Vinhomes

What Vinhomes does

Vinhomes Joint Stock Company (HOSE: VHM) is Vietnam's largest residential real estate developer and a core operating subsidiary of Vingroup, the country's biggest private conglomerate. Founded as a separate legal entity in 2015 with roots in the Vingroup ecosystem dating back earlier, the company develops, sells, and manages master-planned smart urban developments across more than 30 Vietnamese provinces, including flagship projects Vinhomes Ocean Park (Hanoi), Vinhomes Smart City (Hanoi), Vinhomes Grand Park (Ho Chi Minh City), Vinhomes Star City (Thanh Hoa), Vinhomes Royal Island (Hai Phong), Vinhomes Global Gate (Quang Ninh), and the 2,870-hectare Vinhomes Green Paradise megacity in Can Gio.

Its core technology stack centers on an integrated smart city platform deployed across its developments, comprising four named pillars — Smart Apartments (app- and voice-controlled home automation), Smart Community (resident engagement app), Smart Operations & AI Urban Management (AI/IoT-based district monitoring), and Smart Security (24/7 AI-powered surveillance). The proprietary Vinhomes Online / V-App mobile application unifies resident services, bill payment, and the VPoint loyalty system (1 VPoint = 1,000 VND), connecting residents to Vinmec healthcare, Vinschool education, Vincom retail, Vinpearl hospitality, VinBus/VinFast transport, and VinWonders entertainment within walking distance of each home. The product portfolio also includes condotels, shophouses, serviced apartments, and commercial town centers under the Vincom Collection brand.

Vinhomes generates revenue primarily through one-time residential property sales (Real Estate Development & Sales), with a recurring component from rental and property management fees across its development portfolio. Distribution is hybrid: a nationwide network of 32 strategic agents and 42 exclusive authorized distributors, supplemented by direct-to-consumer sales via market.vinhomes.vn, the Vinhomes Online mobile app, and project-site sales offices. Buyer financing innovations — most notably the 2026 Gold Payment Programme that lets Vietnamese households convert gold hoards into property purchases with a 110% buyback option via VietinBank, plus 0% interest 36-month installments — address affordability constraints in a softening mortgage environment and drive transaction velocity across mass-market, investor, UHNW, and tourism-linked customer segments.

Name

Vinhomes

Legal name

Vinhomes Joint Stock Company

Website

https://vinhomes.vn

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Vinhomes (HOSE: VHM) is Vietnam's largest residential real estate developer and a Vingroup subsidiary, building master-planned AI/IoT-enabled smart cities — including Ocean Park, Smart City, Grand Park, and the 2,870-ha Green Paradise — across 30+ provinces for mass-market to UHNW buyers, with integrated ecosystem services (Vinmec, Vinschool, Vincom, Vinpearl, VinFast).

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Residential Building Construction (23611), Residential Property Managers (531311)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

Keywords

• Residential real estate development
• Master-planned urban communities
• Smart city infrastructure
• Integrated township development
• Property management services

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices11 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Real Estate Development & Sales: Vinhomes generates the majority of its revenue from developing and selling residential properties including apartments, villas, shophouses, and townhouses across its portfolio of urban developments. Core products include Vinhomes Ocean Park, Vinhomes Smart City, Vinhomes Grand Park, Vinhomes Star City, and large-scale megaprojects such as Vinhomes Green Paradise (2,870 ha) and Vinhomes Global Gate. The company also launched innovative financing programs allowing homebuyers to pay with gold (gold-to-cash conversion covering at least 80% of purchase price, with 110% buyback option after 5 years), and traditional installment plans (0% interest for 36 months, then capped 9% for 24 months) to drive sales.
2. Real Estate Rental & Property Management: Vinhomes generates recurring revenue from leasing apartments and office spaces within its urban developments, as well as from property management fees charged to residents and building operations services. Rental listings include units at Vincom Đồng Khởi, Vinhomes Ocean Park (TechnoPark Tower), and Vinhomes Time City (Tower 1-T13 and Century Tower-T14). The company also operates commercial town centers through Vincom Retail.
3. Vinhomes Ecosystem Cross-Selling: Vinhomes drives additional revenue through cross-selling within the broader Vingroup ecosystem, including Vinpearl hospitality services, Vinmec healthcare, VinFast electric vehicles, and Vsmart electronics. Residents receive VPoint loyalty rewards redeemable across the ecosystem, creating recurring engagement and revenue opportunities.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Vinhomes develops, transfers, and manages large-scale master-planned residential real estate projects across Vietnam, offering apartments, villas, shophouses, townhouses, and condotels within integrated smart-city developments that include healthcare, education, retail, hospitality, and entertainment amenities. The company also provides property rental, office leasing, and residential property management services, supported by an AI/IoT smart-city platform and a proprietary resident mobile application.

Product overview

Vinhomes is Vietnam's largest residential real estate developer operating a diversified ecosystem of urban developments, commercial townships, and lifestyle destinations across the country. Its portfolio is organized around flagship masterplan projects — Vinhomes Ocean Park (Hanoi), Vinhomes Smart City (Hanoi), Vinhomes Grand Park (Ho Chi Minh City), Vinhomes Green City (Long An/HCMC), and Vinhomes Green Paradise (Can Gio/HCMC) — supplemented by commercial and entertainment components (Vincom Collection, Vincom Mega Mall, Grand World, VinWonders, Vinhomes Safari) and resort/condotel products (Vinpearl Condotel). Key differentiating features include smart city infrastructure with AI-powered security and operations management, smart apartment controls via smartphone/voice, and a resident mobile application (V-App) for integrated building and community services. Vinhomes also offers innovative financing tools including a gold-for-property payment programme and interest-subsidized installment plans. Projects span from large-scale ocean-park urban developments in the north to mega ESG-focused coastal megacities in the south, with the portfolio collectively serving hundreds of thousands of residents across 27+ provinces.

Differentiator

Problem solved

Functional benefit

Brands

• Vinhomes Green Paradise: A 2,870-hectare sustainable megacity development in Can Gio, Ho Chi Minh City, featuring ESG++ model with VinWonders, Vinmec hospital, hotels, and golf courses.
• Vinhomes Ocean Park
• Vinhomes Smart City
• Vinhomes Grand Park
• Grand World
• Vinhomes Star City

Products and services

• Vinhomes Ocean Park A 420-hectare flagship smart urban development in eastern Hanoi offering apartments, villas, and shophouses within a master-planned community that includes a seawater lake, Vincom Mega Mall, VinUni university, Vinschool, and VinBus electric bus service. Targets Vietnamese middle-class and upper-middle-class residential buyers seeking integrated live-work-play environments.
• Vinhomes Ocean Park 2 A large-scale coastal urban development featuring the Royal Wave Park wave pool complex, Kinh đô Ánh Sương (Light Capital) plaza, and Silk Path riverside park, targeting year-round festival, shopping, and beach entertainment experiences. Targets residential buyers and tourism-linked property investors in the Hanoi region.
• Vinhomes Ocean Park 3 A premium coastal urban development inspired by world resort destinations, establishing the Fine Living standard with Paradise Bay four-season bay amenities, a VinWonders-designed water park, and Olympic-standard swimming pools. Targets affluent residential buyers seeking resort-style living within the Hanoi Ocean City master plan.
• Vinhomes Smart City Vietnam's first smart megacity located in western Hanoi, built on four pillars (Smart Security, Smart Operations, Smart Community, Smart Apartments) and featuring AI-powered security and operations management, voice/sensor controlled smart apartments, and an intelligent community mobile app. Targets Vietnamese middle-class and affluent residential buyers.
• Vinhomes Grand Park An internationally scaled mega smart city in Thu Duc City, Ho Chi Minh City, built on the four-pillar Smart Security, Smart Operations, Smart Community, and Smart Apartments framework, featuring a 36-hectare central park, Manhattan Glory marina, and 15 themed utility parks. Targets Vietnamese middle-class and upper-middle-class residential buyers in HCMC.
• Vinhomes Green City A large-scale smart township development in the northwest of Ho Chi Minh City / Long An province, positioned as the first integrated township within the Vingroup ecosystem in Long An, featuring an All-in-One modern utility ecosystem and green living spaces. Targets residential buyers seeking affordable integrated living in greater HCMC.
• Vinhomes Green Paradise A 2,870-hectare ESG++-focused coastal megacity and sea-encroachment tourism-urban project in Can Gio, Ho Chi Minh City, featuring a Future Boulevard, VinWonders entertainment complex, Safari park, Vinmec-Cleveland Clinic hospital, IHG-managed hotels, and an 18-hole Tiger Woods golf course. Targets affluent and UHNW Vietnamese and international buyers and tourism-linked property investors. Targeted for substantial completion Q3 2027 with up to 40 million annual visitor capacity.
• Vinhomes Star City A European-style smart city in Thanh Hoa province, following the global 'city within a city' model with distinctive architectural style and luxury utility complex. Targets affluent residential buyers in central Vietnam.
• Vinhomes Royal Island (Thành phố Đảo Hoàng Gia) An 877-hectare island city development on Vu Yen Island, Hai Phong, marketed as Vietnam's first island city at the center of a city. Targets ultra-wealthy and international buyers seeking exclusive trophy island residences.
• Vinhomes Global Gate A mega urban development project in Ha Long, Quang Ninh province, positioned as a coastal tourism-urban megaproject and a 'wonder' development. Targets residential buyers and tourism-linked property investors in northern Vietnam's Ha Long Bay area.
• Vinhomes Gold Payment Programme A five-year buyer financing programme allowing homebuyers to fund property purchases by converting gold holdings to cash covering at least 80% of a property's purchase price, with a 110% buyback option after five years implying a 10% gold yield. Designed to mobilize Vietnam's household gold reserves into the formal real estate market via a trusted intermediary such as VietinBank.
• Vinhomes 0% Interest 36-Month Financing Programme A buyer financing programme offering 0% interest for the first 36 months followed by a capped 9% interest rate for the next 24 months, offered for early investors in select Vinhomes developments such as Boulevard Prime townhouses at Vinhomes Green Paradise. Targets residential buyers seeking flexible financing amid tightening credit conditions.
• Vinhomes Rental and Office Leasing Services Recurring rental and office leasing service offering apartments and office spaces within Vinhomes urban developments, including Vincom Đồng Khởi, Vinhomes Ocean Park TechnoPark Tower, and Vinhomes Time City towers. Targets tenants and businesses seeking premium addresses in Vinhomes master-planned communities.

Quantifiable outcome

• Net income of 25.6 trillion dong in Q1 2026, approximately 10x year-over-year increase
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered core, flagship and minor.

• IHG Hotels & ResortscoreStrategic or Co-development Partner · 24 April 2026IHG Hotels & Resorts entered a strategic partnership with Vinhomes Green Paradise Can Gio to develop four international hotels with more than 1,000 rooms in Ho Chi Minh City's coastal Can Gio district. The portfolio includes InterContinental Saigon Can Gio (400 rooms, opening 2030), Crowne Plaza Saigon Can Gio (400 rooms, opening 2030), Holiday Inn Express Saigon Can Gio (130 rooms, opening 2028), and Garner Hotel Saigon Can Gio (130 rooms, opening 2028). This marks the debut of both Holiday Inn Express and Garner brands in Vietnam. Vinpearl, a member of Vingroup, will manage and execute the collaboration.
• Cleveland Clinic (via Vinmec partnership)coreStrategic or Co-development PartnerVinmec (Vingroup's healthcare arm) partnered with Cleveland Clinic to bring world-class medical services to Vinhomes Green Paradise Can Gio. The Vinmec-Cleveland Clinic hospital partnership represents a core component of the Green Bay project's healthcare infrastructure within the ESG++ megacity development. Cleveland Clinic provides international medical expertise and standards to the development's healthcare services.
• New7Wonders FoundationflagshipStrategic or Co-development PartnerVinhomes Green Paradise Can Gio became the first official participant in New7Wonders' '7 Wonders of Future Cities' global campaign, recognizing it as a model future city development. New7Wonders Director Jean-Paul de la Fuente conducted an on-site visit and formally recognized the project's integrated ecosystem pillars across education, healthcare, commerce, entertainment, employment, and retirement services as meeting the campaign's criteria for defining urban icons of the 21st century.
• On Global HoldingsminorStrategic or Co-development PartnerVinpearl Horse Academy (Vinpearl Vũ Yên) and On Global Holdings signed a comprehensive cooperation agreement to bring breakthrough experiences to customers while promoting international-standard equestrian culture. The partnership aims to develop Vinpearl Horse Academy into a world-class equestrian institution.
• Central Retail VietnamminorStrategic or Co-development PartnerVincom Retail (Vingroup's retail real estate arm) and Central Retail Vietnam signed a Memorandum of Understanding (MoU) to bring the GO! supermarket chain to Vincom centers nationwide. The first location under this partnership is Vincom Plaza Dan Phuong in western Hanoi. The partnership expands retail amenities within Vinhomes urban developments.
• VietinBankcoreImplementation/ SI/ Consulting PartnerVietinBank is referenced as a potential trusted intermediary for Vinhomes' gold purchase financing program, which allows homebuyers to convert gold holdings to cash to fund property purchases. The gold program requires a trusted intermediary such as VietinBank to facilitate the gold-to-cash conversion at scale for the 5-year program covering at least 80% of property purchase prices.
• Telangana Government (India)flagshipStrategic or Co-development PartnerVingroup signed a Memorandum of Understanding with the Telangana government committing $3 billion for a multi-sector ecosystem spanning approximately 2,500 hectares, including Vinhomes Smart City for ~200,000 residents, a 350-hectare VinWonders theme park and safari, a 500MW solar farm, and electric mobility projects using VinFast vehicles. This is part of Vingroup's broader $5 billion India investment commitment ($500 million for VinFast Tamil Nadu plant + $3 billion Telangana + additional commitments).

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Novaland: One of Vietnam's largest residential real estate developers (formerly known as Novaland Investment Group), competing directly with Vinhomes in the mid-to-upper-market condominium and township segment across Ho Chi Minh City. Operates major projects like Aqua City, NovaWorld, and The Grand Manhattan, providing a comparable business model in the same domestic market.
• Dat Xanh Group: Vietnamese residential developer with significant mid-market and affordable housing presence in Ho Chi Minh City and surrounding provinces. Competes with Vinhomes across the middle-income buyer segment and shares the project-based, large-masterplan development model in the same domestic geography.
• Phu Long Real Estate: Vietnamese developer focused on integrated townships and residential projects including Phu Long Riverpark and Dragon Riverside City. Comparable to Vinhomes for its emphasis on master-planned, amenity-rich developments in Vietnam's urban centres.
• Sun Group: Vietnamese conglomerate with major resort and integrated township developments (Sun World, Sun Grand City, Premier Village) competing directly with Vinhomes' resort and condotel products. Comparable on large-scale destination development, master-planning capabilities, and premium positioning in Vietnam.

Broad incumbents

• Keppel Land (Vietnam): Singapore-based Keppel Corporation's real estate arm operates premium residential developments in Vietnam (e.g., Estella, Empire City) and competes with Vinhomes in the upper-middle to luxury segment of Ho Chi Minh City. As a regional incumbent, it brings international design standards to projects comparable to Vinhomes' high-end product lines.
• CapitaLand (Vietnam): Singapore-listed real estate group with a significant Vietnam residential and integrated development portfolio (e.g., Vinhomes Grand Park co-investments, Feliz en Vista). Operates in the same premium urban condominium space as Vinhomes and offers comparable integrated development expertise.
• Country Garden (Country Garden Holdings): One of China's largest residential developers with operations spanning Malaysia, Indonesia, and other Southeast Asian markets. Comparable as a large-scale township and master-planned community developer operating adjacent geographies and sharing the integrated mega-project model that Vinhomes applies in Vietnam.

Regional players

• Hanoiland: Hanoi-focused Vietnamese residential developer whose geographic concentration in the capital makes it a regional peer to Vinhomes' northern portfolio (Ocean Park, Smart City). Competes in the mid-market Hanoi condominium segment with similar apartment and township products.

Emerging players

• Phat Dat Real Estate: Emerging Vietnamese residential developer with a growing portfolio of urban projects in Ho Chi Minh City, including The Tropicana and Astral City. Competes with Vinhomes in the upper-middle market segment while scaling its masterplanned community ambitions.

Others

• Surbana Jurong: Singapore-based urban development and infrastructure consultancy with extensive Southeast Asia master-planning experience. While not a direct competitor, it represents an adjacent ecosystem participant in smart-city planning and large-scale urban design services that align with Vinhomes' integrated development strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/vinhomes.vn
• Xx.com/vinhomesr
• LinkedInlinkedin.com/company/vinhomesvn

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vinhomes