Khang Điền

What Khang Điền does

Khang Điền (Khang Dien Group / KDH) is a Vietnam-headquartered, Ho Chi Minh Stock Exchange–listed real estate developer founded in 2001. Its core product is residential real estate in Ho Chi Minh City: low-rise luxury villas, townhouses, and garden townhouses (Verosa Park, Lucasta, The Venica, The Classia, Gladia by the Waters) and mid-to-high-end apartment complexes (Jamila, Safira, Lovera Vista, The Privia, Gladia Heights), built on an integrated land bank exceeding 500 hectares across East, South, and West HCMC. The company's technology and design backbone is its proprietary 5 iFactors sustainable development framework (iNature, iEntertainment, iWell-being, iConvenience, iSustainability), with the Gladia by the Waters project becoming the first in Vietnam to receive Singapore's BCA Green Mark for Districts certification. Projects are delivered both independently and through joint ventures, most notably with Keppel Land Vietnam (a 30-hectare township and a high-rise phase of 600+ apartments in East HCMC).

The business model is straightforward one-time-sale residential development: Khang Điền acquires cleared land, develops integrated residential communities, and recognizes revenue on handover to individual homebuyers and investors, supported by an in-house sales force, sales galleries, and a multi-bank financing network (VietinBank, BIDV, Vietcombank, OCB, MB). Pricing is unit-based (e.g., The Privia starting from 48 million VND/m²). Distribution combines direct sales with authorized distribution partners, and GTM emphasizes project launch events and digital channels (corporate website, Facebook). The customer base is two-segment: middle-to-upper-class individual homebuyers seeking legally secure, on-time-delivered homes, and real estate investors pursuing appreciation potential in HCMC. With 50+ projects delivered, 20,000+ units handed over, and reported absorption above 90%, the commercial engine is execution-and-trust-led rather than technology-platform-led.

Revenue scale is mid-cap Vietnamese: 2024 revenue of VND 3,279 billion (after-tax profit VND 810 billion, +13% YoY) and 2025 revenue of VND 4,651 billion, with a guided 2026 after-tax profit of VND 1,500–2,500 billion representing 50–150% growth. Capital structure is anchored by institutional ownership from Dragon Capital, VinaCapital, PYN Elite, and Prudential, with charter capital above VND 7,993 billion. The headcount of 251–500 employees, a board led by Chairwoman Mai Trần Thanh Trang and Vice Chairman Lý Điền Sơn, and a multi-year award track record (National Brand 2022 and 2024, PropertyGuru Developer of the Decade 2024, Top 3 Reputable Real Estate Developer for 9 consecutive years through 2026) round out an execution-focused, capital-backed mid-cap developer.

Name

Khang Điền

Legal name

Công Ty Cổ Phần Đầu Tư và Kinh Doanh Nhà Khang Điền

Website

http://www.khangdien.com.vn

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

251–500 employees

Short description

Khang Điền is a Ho Chi Minh City-based, HOSE-listed (ticker KDH) residential real estate developer founded in 2001, building and selling villas, townhouses, and apartments across HCMC through a 500+ hectare land bank and a flagship joint venture with Keppel Land. It serves middle-to-upper-class individual homebuyers and property investors in Vietnam.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Real Estate and Rental and Leasing (53), Land Subdivision (2372)

SIC

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

akta.pro primary industry

Sustainable/Green Building & LEED Consulting (BPAHAKAG)

akta.pro secondary industry

Urban Planning & Master Planning (BPAHAKAD)

Keywords

• Residential real estate development
• Property investment sales
• Villa townhouse construction
• Apartment development projects
• Sustainable urban development

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Real Estate Development and Sales: Khang Điền generates revenue primarily through the development and sale of residential properties including villas, townhouses, and apartments. Revenue is recognized upon project completion and handover to customers. The company has a track record of delivering over 50 projects with absorption rates exceeding 90%.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Khang Điền is a Ho Chi Minh City-based residential real estate developer that plans, builds, and sells integrated urban townships consisting of villas, townhouses, and apartments. The company develops both independently and through joint ventures (notably with Singapore's Keppel Corporation) across East, West, and South HCMC, and delivers projects with complete legal documentation (land use right certificates / sổ hồng). It has delivered over 20,000 homes across 50+ projects since 2001 and operates an integrated land bank of more than 500 hectares.

Product overview

Khang Điền (Khang Dien Group - KDH) is a real estate development company headquartered in Ho Chi Minh City, Vietnam, with over 25 years of experience and a portfolio of 50+ projects delivering more than 20,000 products. Listed on HOSE (ticker: KDH) since 2010 with charter capital exceeding VND 7,993 billion. The company's product portfolio consists of low-rise residential products (luxury villas, townhouses, garden townhouses such as Gladia by the Waters, Lucasta, The Venica, Verosa Park) and high-rise apartment products (The Privia, Lovera Vista, Jamila, Safira, Gladia Heights). Key projects are developed independently or through joint ventures, notably with Singapore-based Keppel Corporation (Keppel Land) for the Gladia township project (30 ha) in East HCMC. The company operates across East, West, and South HCMC, with a land bank exceeding 500 hectares.

Differentiator

Problem solved

Functional benefit

Brands

• Gladia by the Waters: Joint venture project with Keppel - riverside villa and townhouse project spanning 30 hectares in Binh Trung Ward, Thu Duc City, HCMC. Phase 1 launched October 2025 with over 200 villas and townhouses completed.
• Gladia Heights

Quantifiable outcome

• 90%+ absorption rate across projects
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eleven partnerships are on record, tiered flagship and minor.

• Keppel Land Vietnam (Keppel Corporation)flagshipStrategic or Co-development Partner · 10 February 2023Strategic joint venture partnership with Singapore-based Keppel Corporation for developing sustainable urban projects in Ho Chi Minh City. The partnership includes two residential projects of 6 hectares and 5.8 hectares in Thu Duc City, and the 30-hectare Gladia by the Waters project in Binh Trung Ward. The Gladia by the Waters project achieved BCA Green Mark for Districts certification, Vietnam's first. The partnership represents Khang Điền's flagship international collaboration for premium integrated urban development.
• VietinBankminorChannel Partner/ Reseller/ DistributorOne of Vietnam's state-owned commercial banks providing financing support and mortgage services for Gladia by the Waters customers. Part of the bank's partner network for real estate financing.
• BIDVminorChannel Partner/ Reseller/ DistributorBank for Investment and Development of Vietnam providing financing support and mortgage services for Khang Điền project customers. One of Vietnam's largest commercial banks by assets.
• VietcombankminorChannel Partner/ Reseller/ DistributorJoint Stock Commercial Bank for Foreign Trade of Vietnam, one of Vietnam's leading banks providing financing support for Khang Điền customers purchasing properties.
• OCB (Orient Commercial Joint Stock Bank)minorChannel Partner/ Reseller/ DistributorOCB provides financing options and mortgage support for customers purchasing Khang Điền properties, offering flexible payment plans.
• MB Bank (Military Commercial Joint Stock Bank)minorChannel Partner/ Reseller/ DistributorMilitary Commercial Joint Stock Bank offers financing solutions for Khang Điền project customers as part of the bank's real estate financing partner network.
• An Phong ConstructionminorImplementation/ SI/ Consulting PartnerConstruction company engaged as a builder for Khang Điền projects, contributing to project execution and quality construction delivery.
• Hòa Bình ConstructionminorImplementation/ SI/ Consulting PartnerHòa Bình Corporation engaged as a contractor for Khang Điền projects, one of Vietnam's leading construction companies.
• CotecconsminorImplementation/ SI/ Consulting PartnerCoteccons Construction JSC, one of Vietnam's major construction companies, serves as builder for Khang Điền developments.
• Ricons ConstructionminorImplementation/ SI/ Consulting PartnerRicons Construction and Real Estate Investment JSC engaged as contractor for Khang Điền projects.
• CoficominorImplementation/ SI/ Consulting PartnerCofico Construction and Architecture JSC provides construction services for Khang Điền projects.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Vinhomes: Vietnam's largest real estate developer (VHM on HOSE), part of Vingroup. Develops large-scale residential master-planned communities and mixed-use urban areas across Vietnam, including HCMC — directly comparable to KDH's residential development focus and land-bank-driven model, though at much larger scale.
• Novaland: Major Vietnamese residential real estate developer (NVL on HOSE) with a portfolio centered on HCMC. Develops apartments, townhouses, and villas for individual homebuyers and investors, making it one of the closest direct peers to KDH in terms of geography, customer segments, and product mix.
• Nam Long Group: Vietnamese real estate developer (NLG on HOSE) focused on mid-tier residential developments (apartments, townhouses, villas) in HCMC and other major cities. Comparable to KDH in target customer segment, product type, and HCMC-centric geographic focus, with a similar JV orientation (including partnerships with Japanese developers).
• Phat Dat Real Estate Development: HCMC-focused residential real estate developer (PDR on HOSE) building apartments, townhouses, and shophouses. Operates in overlapping HCMC districts with a similar mid-to-upper market positioning, making it a close comparable for project economics, customer base, and market dynamics.
• Dat Xanh Group: Vietnamese real estate developer and services group (DXG on HOSE) developing residential projects primarily in HCMC and surrounding provinces. Comparable to KDH in target market, product category, and reliance on direct sales and distribution partner channels.
• Becamex IDC: Vietnamese real estate developer (BCM on HOSE) with major residential, industrial, and urban development projects. While more industrial-focused, Becamex competes for similar land banks, joint venture partners, and government relationships in Vietnam's urbanization-driven property market.
• An Gia Real Estate Investment and Development: HCMC-focused residential developer (AGG on HOSE) building mid-tier apartments and townhouses. Comparable to KDH's mid-tier Jamila/Safira product line and The Privia apartment project, serving similar individual homebuyers and investors.
• Keppel Land (Vietnam): Singapore-based international real estate developer with established operations in Vietnam and KDH's joint venture partner for Gladia by the Waters and Gladia Heights. As a JV partner and direct peer in sustainable urban development in HCMC, it is materially comparable in product category, target segment, and capability profile.
• Masterise Homes: Vietnamese premium real estate developer behind branded residences (Masteri, Lumiere, The Grand) primarily in HCMC. Competes with KDH in the upper-mid and premium segments, particularly in Thu Duc City and East HCMC where KDH's Gladia and The Privia projects are located.

Broad incumbents

• CapitaLand Development (Vietnam): Singapore-based diversified real estate developer with residential projects in HCMC and Hanoi. While a broader Southeast Asian incumbent with multiple asset classes, its Vietnam residential projects (e.g., Vinhomes Grand Park collaborations) compete for the same international-grade, sustainable, master-planned segment where KDH and Keppel operate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/KhangDienHouse
• LinkedInlinkedin.com/company/khang-dien

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

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 Khang Điền