National Housing Organization

What National Housing Organization does

National Housing Organization (N.H.O JSC COMPANY) is a privately held Vietnamese real estate developer founded in 2012 by Singaporean businessman Lawrence Tham, headquartered in Ho Chi Minh City with five regional offices across Vietnam (Ha Long, Hai Phong, Quang Ngai, Long Xuyen) and operations in Siem Reap, Cambodia. The company develops a diversified residential and urban project portfolio spanning social housing, mid-market condominiums, premium apartments, mixed-use urban complexes, integrated townships, and a branded serviced residence (Citadines Central Binh Duong, in partnership with The Ascott Limited). Notable projects include Gem Park (Hai Phong), The Dragon Castle (Ha Long), DreamVille (Siem Reap), Diamond City (Long Xuyen), Kings Town (Ha Long), Promena (HCMC), and social housing developments such as City Tower, Nest Home Đà Nẵng, and the 1st Home series.

N.H.O's underlying technology centers on architectural and community design rather than digital platforms: Korean-standard construction quality, natural cooling ventilation, green landscapes, waste recycling, solar power for common areas, and LEED/EDGE-certified environmental design. Its proprietary "Hi LIFE" resident lifestyle system (incorporating Hi TALENT programs for children, Hi Green environmental initiatives, and Family Center community spaces) is a differentiator that extends beyond physical unit delivery into ongoing resident engagement. Construction is delivered through Alpha Engineering Corporation, with property management handled by Alpha Plus — both affiliated entities that internalize execution and operations margin.

The business model is direct-to-consumer real estate development: N.H.O acquires or partners for land, develops residential and mixed-use projects, and sells units directly to end-buyers through on-site showrooms and regional sales offices without third-party brokerage. Revenue streams are primarily one-time unit sales across price points, ranging from affordable social housing (1st Home series targeting middle-income families) to premium condominiums (Gem Park, The Dragon Castle) commanding higher prices. Customer segments are split between middle-income families (primary), premium/luxury buyers (primary), real estate investors (secondary), and government-supported social housing initiatives. The company's stated goal is to build up to 10,000-20,000 quality homes in Vietnam, and leadership combines the founder Chairman Lawrence Tham with Korean executives (CEO Kim Kyoo Chul, Executive Director Chung You Seok) bringing international design and project management standards.

Name

National Housing Organization

Legal name

N.H.O JSC COMPANY

Website

https://nhojsc.vn

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

N.H.O is a Vietnamese private real estate developer, founded in 2012 in Ho Chi Minh City, building social housing, mid-market and premium residential, mixed-use complexes, and integrated townships across Vietnam and Cambodia, selling directly to end-buyers with Korean-standard construction and community-focused design.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Real Estate Property Managers (53131)

SIC

Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

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

akta.pro secondary industries

Residential Affordable Housing Development & Construction (IMAFABAI), HOA / Condominium Association Management (BPAJAFAH)

Keywords

• Residential real estate development
• Social housing projects
• Urban township development
• Premium condominium projects
• Mixed-use property development

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Property Sales: N.H.O generates primary revenue from developing and selling residential units including social housing apartments, commercial condominiums, townhouses, and villas. The company operates across Vietnam and has expanded into Cambodia with the DreamVille project in Siem Reap.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

National Housing Organization (N.H.O) develops and sells residential real estate in Vietnam and Cambodia, including affordable social housing apartments, premium condominiums, townhouses, villas, integrated urban townships, and serviced apartments. The company sells directly to individual home buyers and investors through physical showrooms, sales offices at project sites, and regional offices across Vietnam, with international expansion via the DreamVille project in Siem Reap, Cambodia. Revenue is generated primarily from one-time residential property sales across both affordable and premium market segments.

Product overview

National Housing Organization (N.H.O) is a Vietnamese real estate developer offering a diverse portfolio of residential and urban development projects across Vietnam and Cambodia. The company's product portfolio includes social housing developments (Nest Home, 1st Home series, City Tower), market-rate residential apartments (Gem Park, The Dragon Castle, Promena, Sky 9, Luxury Residence, Imperial Place), mixed-use urban complexes (Diamond City, An Phú Sinh), integrated townships (DreamVille in Cambodia, Kings Town), and serviced apartments (Citadines Central Bình Dương). Projects range from affordable social housing to luxury developments, with focus on sustainable design, community amenities, and integration of Vietnamese and Korean development standards.

Differentiator

Problem solved

Functional benefit

Products and services

• Gem Park Luxury residential complex in Hai Phong featuring neoclassical architecture with modern design, comprising 4 towers (Diamond A/B, Sapphire, Ruby) with 1–3 bedroom apartments. Includes a 10,000 m² outdoor park and 5,000 m² indoor facilities for premium condominium buyers.
• The Dragon Castle Premium apartment complex in Ha Long comprising 3 towers (Jinju, Bada, San) with Korean-standard design, resort-style amenities, and panoramic views of Ha Long Bay for premium buyers.
• DreamVille First all-in-one destination township in Siem Reap, Cambodia spanning 35.4 hectares with garden houses, villas, condominiums, hotels, hospitals, markets, and schools. Nearly 20 hectares are dedicated to amenities and green parks. Targets Cambodian and regional buyers seeking integrated mixed-use living.
• Diamond City Large-scale integrated urban development in Long Xuyen, An Giang spanning 49 hectares with townhouses, apartments, a commercial center, riverside parks, swimming pools, and squares. 70% of the area borders the Hau River. Serves middle-income families and investors.
• Mekong District Modern urban district within the Diamond City project in Long Xuyen featuring shop houses, townhouses, villas, a commercial center, riverside park, plaza, swimming pool, schools, hotel, and healthcare center for urban living buyers.
• Promena Residential project in District 9, Ho Chi Minh City inspired by the 'promenade' concept, offering a peaceful retreat near a 300-hectare golf course with city and nature harmony. Features 15 floors with 108 apartments for premium buyers.
• Imperial Place European classic living environment in Binh Tan District, Ho Chi Minh City with 20 floors and 1,115 apartments. Amenities include a swimming pool, gym, playgrounds, gardens, jogging track, and shops.
• City Tower Social housing project in Thuan An, Binh Duong with 18 floors and 527 apartments, built 2015–2017. Received LEED and EDGE Homes certifications for sustainability performance.
• Sky 9 Residential project in District 9, Ho Chi Minh City with 19 floors and 1,361 apartments, built 2015–2018. Amenities include a saltwater pool, gym, badminton court, BBQ garden, and playground.
• Kings Town Townhouse project in Ha Long with 147 units, built 2017–2021. Features include a supermarket, BBQ garden, pool, school, badminton court, playground, and green park.
• An Phú Sinh Urban area in Quang Ngai spanning 429,075 m² with 3,677 units combining townhouses and villas. Amenities include a swimming pool, tennis court, and park for families and investors.
• 1st Home Bình Hòa First social housing project in the An Giang industrial zone area with 889 units combining low-rise and high-rise buildings for industrial workers and middle-income families.
• 1st Home An Giang First modern residential community in Long Xuyen city with 495 apartments across 9 floors, built 2014–2016 following Korean standards for middle-income families.
• 1st Home Thạnh Lộc Social housing project in An Phu Dong, Ho Chi Minh City with 489 units across 14 floors, built 2013–2015 for working-class families.
• Citadines Central Bình Dương Serviced apartment project developed by N.H.O and The Ascott Limited with 204 units across 19 floors. Features international brand standards with pool, gym, workspace, and 24/7 services for business travelers and expatriates.
• Luxury Residence Residential project on National Highway 13 in Binh Duong with 221 units, built 2016–2018. Units are designed to maximize natural light and ventilation for families seeking quality mid-market housing.
• Nest Home 9-floor social housing complex in Son Tra District, Da Nang with 420 apartments, built 2012–2014. Located amid green gardens with safe walking paths for middle-income families.

Quantifiable outcome

• 3,702 social housing units built supporting disadvantaged families
• +1 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and major.

• Alpha Engineering CorporationcoreImplementation/ SI/ Consulting PartnerVietnam-based construction company providing high-quality, innovative construction services and professional management for N.H.O projects. Alpha Engineering serves as a trusted construction partner delivering quality execution across the project portfolio.
• HandongcoreTechnology or IntegrationKorean engineering company providing comprehensive solutions with superior technical technology meeting international standards. Handong brings Korean engineering expertise and technology to N.H.O developments.
• ADUcoreStrategic or Co-development PartnerDesign firm approaching projects with creative enthusiasm, providing comprehensive design solutions including architecture, interior design, landscape design, and graphic design. ADU contributes to the aesthetic quality of N.H.O projects.
• Shin Yeong (SYPM)majorImplementation/ SI/ Consulting PartnerKorean project management company that has developed into a leading PM/CM (Project Management/Construction Management) firm in Korea through partnerships with world-class project management, construction, and engineering companies.
• Alpha Plus Property ManagementcoreStrategic or Co-development PartnerProperty management company serving as a strategic partner accompanying N.H.O in elevating living standards for residents across N.H.O projects. Alpha Plus manages property operations and resident services.
• The Ascott LimitedmajorStrategic or Co-development PartnerInternational accommodation provider bringing the Citadines brand to the Citadines Central Bình Dương project. The Ascott Limited provides international operational standards for serviced residence operations.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• CapitaLand Development (Vietnam): Singapore-listed regional developer with multiple premium residential developments across Vietnam (DEFV, The Marq, Lumi Hanoi). Comparable as a foreign-affiliated premium residential entrant in Vietnam competing for the same urban middle-class and affluent buyer pool.
• Keppel Land (Vietnam): Singapore-listed regional developer with substantial premium residential projects in Ho Chi Minh City (Estella, Saigon Centre, Riviera Point). Comparable premium positioning with international capital backing; broader portfolio across multiple Asian geographies.
• Vinhomes: Vietnam's largest residential developer (VHM on HOSE), building master-planned Vinhomes townships nationwide. Comparable as a high-volume for-sale residential developer in Vietnam; N.H.O operates at materially smaller scale in the same market segment.

Direct peers

• Nam Long Group: Vietnamese listed developer of mid-market apartments, townhouses (FLCH, EHome product lines) and integrated townships across HCMC, Long An and Binh Duong. Closest comparable to N.H.O's affordable-to-mid-tier social housing + market-rate apartment portfolio.
• Novaland (Nova Real Estate Investment Corporation): One of Vietnam's largest private residential developers (NVL on HOSE), building mid- to premium-tier apartments and townships primarily in HCMC and surrounding provinces. Direct overlap with N.H.O's premium condo (Gem Park, The Dragon Castle) and integrated township (DreamVille) offerings.
• Dat Xanh Group: Vietnam-based developer and brokerage active across mid-tier residential projects in southern Vietnam. Comparable mid-market developer plus indirect channel peer.
• Phu My Hung Corporation: Pioneer of the integrated township model in Vietnam (Phu My Hung City, District 7, HCMC) combining residential, commercial and community amenities. Highly comparable to N.H.O's Diamond City and DreamVille master-planned community approach.
• Phat Dat Real Estate Development: HOSE-listed Vietnamese developer focused on mid- to high-end residential projects (The EverRich, Astral City) in HCMC. Comparable mid-premium positioning and HCMC-centric launch profile.
• Khang Dien House Trading and Investment JSC: HOSE-listed mid-market Vietnamese residential and township developer active in HCMC and Binh Duong. Directly comparable small- to mid-cap developer profile to N.H.O.

Others

• Hong Kong Land / Hongkong Land Asia (Vietnam projects): Singapore/Hong Kong-based premium real estate group with select Vietnam projects (e.g., partnerships in HCMC/Hanoi). Adjacent comparable as foreign premium residential investor in Vietnam and partner rather than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/NHO.OfficialPage
• LinkedInlinkedin.com/company/nhojsc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 National Housing Organization