After Vingroup, T&T, and Eurowindow’s Entry, Vietnam’s Former Largest Province Seeks New Owner for Billion-Dollar Urban Project

The Department of Finance of Nghe An Province has recently announced the list of investors for the Urban and Commercial Service Area Project in Bac Thung, Nam Dan Commune. The project boasts a total investment of over 1.1 trillion VND.

Spanning more than 33 hectares, the project includes 3-story townhouses, 4-story mixed-use commercial buildings, and 7-9 story commercial complexes. Additionally, it features cultural centers, schools, and technical infrastructure to accommodate approximately 3,000 residents.

According to the plan, the project will be implemented over 7 years, with a 50-year operational period. This initiative is part of Nghe An Province’s urban development strategy. Under the adjusted master plan for Nam Dan Town by 2035, approved in December 2022, Nam Dan is set to become a political, administrative, economic, and tourism hub within the “tourism triangle” of Vinh – Cua Lo – Kim Lien.

Recently, major real estate companies like Vingroup, T&T, and Eurowindow have been investing heavily in Nghe An. For instance, T&T Group has submitted a proposal to the People’s Committee of Nghe An Province, the Department of Agriculture and Environment, and Hung Nguyen and Lam Thanh Communes to develop a 237-hectare urban area in the Southwest of Vinh City (formerly known as Khu đô thị Tây Nam TP. Vinh).

This project is expected to have a total investment of up to 33.7 trillion VND, with implementation scheduled from 2025 to 2030 through an investor selection tender. T&T has requested the provincial government to finalize procedures for the company or its subsidiaries to prepare investment approval dossiers and expedite the tender process. The Nghe An People’s Committee has tasked the Department of Agriculture and Environment and relevant communes with reviewing and reporting on T&T’s proposal.

Beyond T&T, Vingroup, through Vinhomes, is also eyeing Nghe An with plans to research and develop a 200–300 hectare urban area across three wards in Vinh City: Hung Dung, Hung Loc, and Hung Hoa. This project aligns with the 2021–2030 master plan and vision to 2050.

Previously, Vingroup has successfully executed several projects in Nghe An, including the Cua Hoi Entertainment Complex, the renovation of Zone B – Quang Trung Apartment in Vinh City, and the Vinpearl Cua Hoi resort complex featuring hotels, entertainment, and villas.

Alongside these giants, Eurowindow is also developing urban projects in Vinh City, with notable developments such as Eurowindow Sport Garden, Eurowindow Central Avenue, and Nghi Lien Urban Area.