On November 28, the Board of Directors of VISC approved the intention to register for the purchase of a 989.5m² commercial floor on the second level of the King Palace mixed-use building. This development, located at 108 Nguyen Trai, Thanh Xuan District, Hanoi, encompasses commercial spaces, services, offices, a hotel, apartments, and residential units for sale. The project is led by Sakura Real Estate JSC (Sakura Real) as the primary developer.
The resolution outlines a projected purchase price of 120 billion VND, with VISC depositing 60 billion VND, equivalent to 50% of the total value. This deposit will be executed once the project meets the necessary conditions for sale approval.
The company indicated that the registration process will commence in late 2025. The commercial floor is intended to serve as the company’s new headquarters and primary office space. This move signals VISC‘s strategic plan to relocate from its current headquarters situated on the 1st and 8th floors of Tower B in the Song Da Building, Pham Hung Road, Tu Liem District, Hanoi.
The King Palace residential complex is strategically positioned on a 6,973m² plot, featuring two towers: A and B. Tower A’s apartments were launched in 2018 and handed over to residents starting in 2021, while Tower B is currently under construction.
Tower B under construction – Source: Dai Bieu Nhan Dan, November 13, 2025
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The project is part of the ecosystem of affiliated entities.
Established on September 23, 2009, Sakura Real’s founding shareholders include Alpha Nam Real Estate JSC, Hoang Tu LLC, and Mr. Nguyen Tuan Hai. Initially headquartered at 47 Vu Trong Phung, Thanh Xuan Trung Ward, Thanh Xuan District, Hanoi, Sakura Real relocated to 108 Nguyen Trai in 2018, coinciding with the launch and sale of the King Palace project.
Throughout its operations, Sakura Real has experienced notable fluctuations in its chartered capital. The company increased its capital from 200 billion VND to 210 billion VND in January 2018 and further to 400 billion VND in March 2020. However, it rapidly reduced its capital in 2023, decreasing it to 90 billion VND in June and 70 billion VND in December. Subsequently, the capital was raised to 350 billion VND in July 2024.
As of the latest update in August 2025, Mr. Ho Ngoc Hai serves as both the CEO and legal representative of Sakura Real.
In December 2024, Thang Long Investment Group JSC (HNX: TIG) invested in 28 million shares, representing 80% of Sakura Real’s chartered capital, totaling 840 billion VND. This acquisition transformed Sakura Real into a subsidiary, integrated into TIG’s consolidated financial statements. Notably, TIG is also a strategic shareholder of VISC, underscoring that the securities company’s decision to relocate to King Palace is part of a deliberate strategy.
Thanglong Invest Group Expands into Real Estate with Over 1.8 Trillion VND Investment Plan
According to VISC‘s website, the company was founded on October 15, 2007, with a statutory capital of 150 billion VND. Its founding shareholders include TIG, SCB, PVFC, VCCI Invest, Vinachem, Vinapaco, Vinafood1, Lilama, and Cienco4. Originally named Vietnam Industrial and Commercial Securities JSC (VICS), the company underwent significant changes over the years.
In October 2009, an extraordinary shareholders’ meeting approved the listing of shares on the HNX and increased the chartered capital to over 300 billion VND. By December 2009, VICS officially listed on the HNX under the stock code VIG.
During 2021-2022, TIG participated as a strategic investor, successfully restructuring and assuming management control. The company was renamed Vietnam Financial Investment Securities JSC (VISC), with its capital increased to over 451 billion VND.
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Currently, the company is chaired by Mr. Nguyen Phuc Long, recognized as the founder and developer of TIG and several other organizations, including the Vietnam Economic and Securities Electronic Magazine, HDE Holdings, and Hyundai VN Co. Ltd.
According to VISC‘s 2025 semi-annual report, Mr. Nguyen Phuc Long serves not only as the Chairman of the Board but also as the Chairman of TIG, a Board Member of Thang Long Phu Tho Investment JSC (TIG holds 94.3% of the capital), and notably as the Vice Chairman of Sakura Real.
Regarding VISC‘s financial performance, in Q3 2025, the company reported a net profit of nearly 17 billion VND, an 11-fold increase compared to the same period last year. This growth was attributed to the recovery of the stock market, which positively impacted the proprietary trading segment. The company also recorded over 13 billion VND in revenue from securities investment advisory contracts.
Despite this, the company incurred a cumulative loss of nearly 4 billion VND in the first nine months of 2025, influenced by less favorable results in the first half of the year. In contrast, the company achieved a net profit of over 23 billion VND in the same period the previous year.
| VISC Reports Mixed Financial Results in the First Three Quarters of 2025 |
– 4:58 PM, December 1, 2025
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