DIC Corp, established in the early 1990s and headquartered in Vung Tau, is a pioneer in coastal real estate development. Over time, the company expanded into finance and tourism. Its long-standing presence has allowed DIC to amass a diverse and rare portfolio of projects in the region.
After more than 30 years, DIC owns over 800 hectares of land in Vung Tau. Many of these projects are strategically located on prime streets like 3 Thang 2 and Thuy Van. However, some areas are still pending legal completion or land clearance, posing significant challenges to project timelines.
The Cap Saint Jacques Complex on Thuy Van Street is one of DIC’s flagship projects, featuring a hotel, apartments, and a shopping center with an investment of nearly VND 3.6 trillion. This development solidifies DIC’s position in luxury beach tourism and hospitality.
The Aurora Conference Center, part of the Cap Saint Jacques Complex, is a major convention hub in Vung Tau. It caters to MICE tourism (Meetings, Incentives, Conferences, and Exhibitions), supporting the local service industry. This segment attracts high-spending visitors but is seasonal and dependent on corporate event schedules.
DIC Solar City, a 90-hectare urban development in North Vung Tau, has received approval for technical infrastructure investment. However, only a portion of the land has been cleared, and detailed 1/500 planning adjustments are ongoing, delaying full-scale construction.
DIC Chi Linh City, a nearly 100-hectare urban project, is central to DIC’s Vung Tau strategy. It includes residential and high-rise apartment zones, once attracting a significant population. However, after nearly 30 years, delays have left thousands of households in planning limbo.
Vung Tau Gateway, featuring two 30-story towers and over 1,500 apartments, is an architectural landmark in North Vung Tau. However, post-launch, the building has shown signs of deterioration, including broken windows and low occupancy rates.
Vung Tau Centre Point, located at the intersection of 2 Thang 9 and Nguyen Huu Canh, comprises two towers over 20 stories. Market prices range from VND 40 to 45 million per square meter. Despite its prime location, construction delays have led to uneven handover timelines.
At the junction of Nguyen Huu Canh and 2 Thang 9, DIC developed three projects: Vung Tau Centre Point, Emera, and Silver. Emera, a 7,000m² apartment complex with over 500 units, stands over 20 stories tall. Concentrating multiple projects in one area has boosted community formation but strained construction timelines and internal infrastructure.
Seaview Apartment, one of DIC’s earliest projects in Vung Tau, remains popular due to its central location and sea views. While its design and amenities are dated, it marks a significant milestone in DIC’s early urban development efforts.
Pullman Vung Tau Hotel, with an investment of over VND 1.7 trillion, occupies nearly 3 hectares and features 350 rooms and a convention center. Average room rates range from VND 2 to 2.5 million per night. Occupancy relies heavily on conference and exhibition attendees.
Over 30 years, DIC Corp has left a significant mark on Vung Tau through its extensive land holdings and urban development expertise. However, the company faces new competitive pressures and a legacy of slow growth. To maintain its market leadership, DIC must accelerate project execution, resolve legal bottlenecks, and enhance operational quality.
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