In a recent update, KB Securities Vietnam (KBSV) highlights that Nam Long Joint Stock Company (NLG) is poised for sustained growth, driven by infrastructure development and the trend of urban migration to suburban areas.
Nam Long maintains its leadership in mid-range and affordable housing with its flagship brands Ehome, Valora, and Flora. The company boasts a substantial land bank of 680 hectares.
In the first nine months of the year, NLG reported revenue of VND 3,940 billion, a 376% increase year-on-year. Real estate transfer revenue reached VND 3,768 billion (up 455%), attributed to (1) deliveries at Nam Long II Central Lake (Can Tho), (2) the final phase of Akari City, and (3) projects at Southgate and Izumi City. Net profit surged to VND 621 billion, nearly seven times higher than the previous year.
For 2025, KBSV forecasts a 47% sales growth to VND 7,675 billion, driven by projects in South Gate, Mizuki Park, Can Tho, and Izumi City. This projection is based on the anticipated launch of Izumi City and strong demand for low-rise properties in provinces like Long An and Can Tho.
Benefiting from Infrastructure Development and Suburban Urbanization
According to KBSV analysts, NLG’s major projects in Dong Nai and Long An are expected to benefit significantly from improved transportation infrastructure and the shift towards suburban living. The Long Thanh International Airport in Dong Nai, a national priority, is slated for partial operation in 2026.
To maximize the airport’s phase 1 impact, a robust transportation network is essential. “Thus, Dong Nai’s infrastructure is likely to accelerate next year, boosting the real estate market alongside regional development. Additionally, the trend of moving to suburban areas is becoming increasingly prominent,” the report states.
Batdongsan.com.vn reports that in Q3/2025, real estate interest in provinces near major cities like Hanoi and Ho Chi Minh City remained robust.
Furthermore, the government and local authorities are expediting satellite city planning and development to alleviate central urban pressures. Long An is gaining attention, with major developers like Vinhomes and EcoPark launching projects in the area.
NLG shares are currently trading at VND 34,850 per share (as of December 10).
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