Tien Phuoc

What Tien Phuoc does

Tien Phuoc (Công ty Cổ phần Bất động sản Tiến Phước) is a privately held Vietnamese real estate investment and development firm headquartered in Ho Chi Minh City, founded on October 10, 1992, and operating three verticals: real estate, healthcare, and infrastructure. The real estate portfolio is anchored by the Senturia sub-brand of master-planned residential communities (Senturia Vườn Lài, Senturia Nam Sai Gon, Senturia Q9 Central Point, Senturia An Phú) and co-developed flagship projects including The Estella (with Keppel Land), Palm City, and Empire City (with Keppel Land, Gaw Capital, and Tran Thai). The healthcare vertical operates through American International Hospital (AIH), a 120-bed, 10-story facility in District 2 that achieved JCI accreditation in November 2022 and holds collaborations with Johns Hopkins Medicine International and Raffles Hospital Singapore. The infrastructure vertical includes urban-area development (Nam Rach Chiec Urban Area) and adjacent road construction. Hospitality exposure comes via Le Méridien Saigon, a 350-room five-star hotel in District 1 managed by Marriott International under a Starwood-era agreement.

The company generates revenue through one-time property sales across residential and commercial developments (Senturia projects, The Estella, Palm City, Empire City, Greenfield Villas, Tien Phuoc Building), recurring inpatient and outpatient services at AIH, recurring hotel operations at Le Méridien Saigon, and infrastructure development fees under government and JV agreements. Pricing is project-specific, with HCMC residential average selling prices reportedly in the VND 140–280 million per m² range; no public price list exists. GTM is sales-led through on-site sales galleries across four HCMC offices, augmented by event-driven launches, webinars, and bilingual digital marketing. Tien Phuoc serves high-net-worth individual homebuyers, corporate office tenants, premium healthcare consumers (including expatriates and medical tourists), and resettlement-housing beneficiaries via its JV with Keppel Land and Tran Thai. Annual revenue is reported at approximately $5 million USD (per 2022 APEA materials), with ~250 employees, four offices across HCMC, and leadership under General Director Nguyen Thi My Phuong. The company is privately held, has no public listing, and has no disclosed parent company.

Name

Tien Phuoc

Legal name

Công ty Cổ phần Bất động sản Tiến Phước

Website

https://tienphuoc.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

51–100 employees

Short description

Tien Phuoc is a privately held Vietnamese real estate developer founded in 1992 and headquartered in Ho Chi Minh City, operating across three verticals: residential and commercial real estate (Senturia brand, The Estella, Palm City, Empire City), healthcare via the JCI-accredited American International Hospital (AIH), and infrastructure. It serves HNW homebuyers, corporate tenants, premium healthcare patients, and resettlement-housing beneficiaries, with JV partners including Keppel Land and Gaw Capital.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), General Medical and Surgical Hospitals (6221), Commercial and Institutional Building Construction (236220), Nonresidential Building Construction (2362)

SIC

Services-Hospitals (8060), Hotels & Motels (7011), Investors, Nec (6799)

akta.pro primary industry

Healthcare Facility Construction (Hospitals, Clinics, Labs) (IMAFACAD)

akta.pro secondary industry

Integrated Full-Service Hotel Complexes (Mixed-Use) (THAGAAAL)

Keywords

• Real estate development
• Residential property sales
• Healthcare hospital services
• Commercial property leasing
• Infrastructure investment

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development & Sales: Tiến Phước develops and sells residential and commercial properties including villas, townhouses, apartments, and office buildings across Vietnam. Revenue is generated through property sales at project launch and throughout development cycles. Key projects include Senturia brand (Vuon Lai, Nam Sai Gon, Q9 Central Point), The Estella, Palm City, Empire City, Greenfield Villas, and Tien Phuoc Building office space.
2. Healthcare Services (AIH): American International Hospital (AIH) generates revenue through inpatient and outpatient medical services, specialist consultations, surgical procedures, and diagnostic services. AIH holds JCI accreditation and collaborates with Johns Hopkins Medicine International and Raffles Hospital Singapore for specialized care, enhancing its premium positioning.
3. Hospitality (Le Méridien Saigon): Le Méridien Saigon hotel operations generate revenue through room bookings (350 rooms), F&B services, event venues, and lifestyle amenities (gym, saltwater pool, restaurants and bars). Managed under Starwood Hotels & Resorts (Marriott) branding agreement.
4. Infrastructure Investment & Development: Tiến Phước participates in infrastructure projects including the Nam Rach Chiec Urban Area development, road construction (Song Hành parallel road along TP.HCM – Long Thành – Dầu Giây expressway), and sustainable infrastructure solutions. Revenue from infrastructure is tied to development agreements and government contracts.
5. Annual Revenue: Tiến Phước maintains annual revenue of approximately 5 million USD, according to the company's APEA 2022 recognition materials.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Tien Phuoc develops, invests in, and sells residential and commercial real estate properties in Vietnam, including the Senturia branded master-planned communities, luxury apartments, villas, townhouses, and office buildings. The company also owns and operates the American International Hospital (AIH), a JCI-accredited hospital in Ho Chi Minh City, and the Le Méridien Saigon five-star hotel managed by Marriott. Infrastructure investments include urban development projects and sustainable infrastructure solutions.

Product overview

Tien Phuoc is a Vietnamese real estate investor and developer operating across three core verticals: Real Estate, Healthcare, and Infrastructure. The real estate portfolio includes the Senturia sub-brand of residential products (townhouses, villas, apartments) — covering projects such as Senturia Vườn Lài, Senturia Nam Sai Gon, Long Truong Urban Zone, Greenfield Villas, and others — alongside joint ventures with Keppel Land on projects like The Estella, Palm City, and Empire City. The company also owns and operates the American International Hospital (AIH), Vietnam's first hospital built to American standards, in its healthcare vertical. The hospitality segment includes the Le Méridien Saigon hotel managed by Starwood Hotels & Resorts. Tien Phuoc acts as both developer and co-investor, partnering with international firms (Keppel Land, Gaw Capital) across its projects.

Differentiator

Problem solved

Functional benefit

Brands

• Senturia: High-end chained residential brand featuring townhouses, villas, and apartments in master-planned communities with Mediterranean-inspired architecture. Includes projects such as Senturia Vuon Lai, Senturia Nam Sai Gon, Senturia Q9 Central Point, and Senturia An Phú.
• Senturia by Tien Phuoc

Products and services

• Senturia Vườn Lài

Quantifiable outcome

• The Estella received BCA Green Mark Gold Award (Singapore) and Best Condominium Development in Vietnam – South East Asia Property Awards 2011
• +4 more outcomes

Named customers8 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

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Raffles Hospital SingaporecoreTechnology or Integration · 19 October 2024On October 19, 2024, AIH and Raffles Hospital Singapore signed a Medical Collaboration Agreement to jointly establish AIH Orthopedic Center and AIH Oncology Center. Raffles specialists provide joint consultations and second opinions, and AIH's laboratory adopts Raffles' External Quality Assurance (EQA) program accredited by the College of American Pathologists (CAP).
• Vietnam National Child Welfare Organization (Quỹ Bảo trợ Trẻ em Việt Nam)minorOthers · 1 October 2022AIH and the Vietnam National Child Welfare Organization partnered on the 'Tiếp sức trẻ sinh non Việt Nam' program, with AIH donating VND 1 million per birth for premature baby support, aligned with the goal to reduce infant mortality to 8/1000 by 2030.
• Operation Smile VietnamminorOthers · 1 January 2022Tiến Phước Group partners with Operation Smile Vietnam to fund free cleft lip and palate surgeries for disadvantaged children. The 'Tròn tiếng cười – Vẹn tưng lai' campaign raised VND 550 million to support 50+ children in 2022.
• Johns Hopkins Medicine International (JHMI)coreTechnology or Integration · 1 July 2018AIH (American International Hospital, a Tiến Phước Group member) has an ongoing collaboration with Johns Hopkins Medicine International since July 2018. JHMI provides consulting in 5 key areas: patient quality and safety, clinical care, clinical operations, infection control, and international patient referrals to Johns Hopkins hospitals in the US. AIH is the only hospital in Vietnam selected by JHMI for this collaboration.
• Starwood Hotels & Resorts (Marriott International)coreChannel Partner/ Reseller/ Distributor · 1 January 2011Starwood Hotels & Resorts (now Marriott International) was appointed as the hospitality management partner for Le Méridien Saigon. Starwood manages hotel operations, global distribution, reservations, and loyalty programs for the 5-star property.
• Keppel Land Co. Ltd.coreStrategic or Co-development Partner · 1 January 2007Tiến Phước and Keppel Land (Singapore) formed a joint venture in 2007 to co-develop The Estella premium apartment project in District 2. The partnership was later expanded to include Palm City, Empire City, and the broader Nam Rach Chiec Urban Area development. Keppel Land brings international development standards, design expertise, and capital to joint projects.
• Nam Rach Chiec Company Ltd.coreStrategic or Co-development Partner · 1 January 2007South Rach Chiec Company Ltd. is a joint venture among Tiến Phước, Tran Thai, and Keppel Land, established and appointed by HCMC People's Committee to develop the Nam Rach Chiec Urban Area. This joint venture develops Palm City and other large-scale projects in District 2.
• Tran Thai Real Estate Co. Ltd.coreStrategic or Co-development PartnerTran Thai is a joint-venture partner in the Empire City project (Thu Thiem New Urban Zone) alongside Tiến Phước and Denver Power Ltd (Gaw Capital). Tran Thai contributes local market expertise and development capabilities to the partnership.
• Ánh Sáng Phương Nam Consulting Construction Joint Stock CompanyminorImplementation/ SI/ Consulting PartnerÁnh Sáng Phương Nam is the architectural design partner for Senturia Nam Sai Gon, providing architectural design services with Mediterranean-inspired, modern, airy designs that are well-received by professionals and customers.

Scale indicators7 records

Recent moves12 records

Expansion highlights7 records

Direct peers

• Novaland: Major Vietnamese real estate developer focused on mid- to high-end residential and mixed-use projects, with heavy HCMC exposure. Comparable scale, product breadth, and geographic concentration to Tien Phuoc.
• Nam Long Group: Listed Vietnamese developer of mid-tier residential, township, and integrated urban projects across the country. Comparable Vietnamese market focus, product mix, and customer segment to Tien Phuoc's Senturia brand.
• Keppel Land: Singapore-based international real estate developer with major Vietnam operations across residential and mixed-use projects. Comparable as both a co-developer (Tien Phuoc's JV partner on The Estella, Palm City, Empire City) and as a competing developer in Vietnam's premium residential market.
• Vinhomes: Vietnam's largest real estate developer and a subsidiary of Vingroup, developing mixed-use residential and integrated townships across Vietnam. Closest comparable in product mix (residential and mixed-use) and Vietnamese market scale.
• Phu My Hung: Established HCMC-based developer of large-scale integrated residential and commercial projects, including the flagship Phu My Hung New City. Comparable HCMC focus and large mixed-use development expertise.
• Khang Dien House: Vietnamese developer focused on residential and township projects primarily in southern Vietnam/HCMC. Comparable product breadth and mid-to-upper residential positioning to Tien Phuoc.
• CapitaLand Development (Vietnam): Singapore-based real estate developer with significant Vietnam operations building residential, retail, and mixed-use projects. Comparable international developer footprint and premium positioning in the Vietnamese market.
• Phat Dat Real Estate Development: Vietnamese real estate developer active in HCMC and surrounding provinces across residential, commercial, and hospitality segments. Comparable product scope and southern Vietnam market focus.

Broad incumbents

• Hoan My Medical Corporation: Vietnam's largest private hospital network operating more than a dozen facilities across the country. Comparable as a multi-facility healthcare operator in Vietnam and the most direct competitor for AIH's premium inpatient services.
• Vinmec: Vingroup-affiliated hospital and clinic chain with international-standard facilities across Vietnam. Comparable premium healthcare positioning and broad Vietnamese footprint relevant to AIH's JCI-accredited, US-standard approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCmQZXK4fvxd5UqHC36UCO9Q/videos
• LinkedInlinkedin.com/company/tien-phuoc-real-estate-joint-stock-company

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries8 records

Funding overview

Funding rounds

Investors

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 Tien Phuoc