Vinaconex Urban and Housing Development Investment

Name

Vinaconex Urban and Housing Development Investment

Legal name

Công ty Cổ phần Đầu tư Phát triển Nhà và Đô thị VINAHUD

Website

http://www.vinahud.com.vn

Company type

Public

Founded year

2007

Operating status

Operating

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Residential Building Construction (23611), Land Subdivision (23721), Commercial and Institutional Building Construction (23622)

SIC

Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB), Office & Corporate Building Construction (IMAFACAA), Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

Keywords

• Real estate development
• Resort property investment
• Urban housing projects
• Project management consulting
• Construction services

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Investment and Business: Vinahud invests in and develops real estate projects across Vietnam, ranging from resort real estate to metropolitan urban areas. Revenue is generated through the sale of residential units, villas, apartments, and resort properties. Key projects include Grand Mercure Hoi An (resort villas and hotel rooms), Thung Ca Golf & Resort (500 ha), Vien Nam ecological urban area (Hoa Binh), and various urban development projects in Hanoi.
2. Project Management Consultancy: Vinahud provides project management consultancy services for real estate and construction projects. With over 14 years of experience in project management, the company offers consulting for urban area developments, high-rise buildings, and apartment complexes. This represents a recurring professional services revenue stream.
3. Construction: Vinahud directly constructs urban areas, high-rise buildings, and apartment projects. The company leverages expert employees with rich experience in construction management. Projects include the VINAHUD headquarters building at Trung Yen 9 Street, office and residential area at 536A Minh Khai, and mixed-use complexes.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

VINAHUD develops, invests in, and constructs real estate projects across Vietnam, including premium resort properties, urban housing developments, and commercial office buildings. The company also provides project management consultancy and construction services for real estate projects, with over 14 years of industry experience. Its integrated portfolio spans resort villas, apartments, mixed-use urban areas, golf resorts, and green energy urban developments in Hanoi, Da Nang, Quang Nam, Hoa Binh, and Phu Yen.

Product overview

VINAHUD is a real estate investment and development company operating a multi-segment portfolio organized around three core services: Real Estate Investment and Business, Project Management Consultancy, and Construction. The product portfolio includes flagship resort projects like Grand Mercure Hoi An (luxury beach resort with 118 villas and 785 hotel rooms), urban developments such as Trung Hoa-Nhan Chinh (24.4 ha mixed-use), Dong Nam Tran Duy Hung (2.96 ha residential complex), and Tuy Hoa-Phu Yen Green Energy Urban Area (130 ha), as well as Thung Ca Golf & Resort (500 ha golf and resort in Hoa Binh). The company also develops commercial properties including the Vinahud Building (19-storey office headquarters) and mixed-use projects like the HH House Cluster in Da Nang (1,300 billion VND investment). The three core services function as integrated offerings where consultancy supports project development and construction delivers the built products.

Differentiator

Problem solved

Functional benefit

Products and services

• Grand Mercure Hoi An International five-star resort complex in Quang Nam province featuring 118 villas and 785 sea-view hotel rooms (392 hotel rooms and 393 tourist apartments), developed in partnership with Accor Group for hotel management. Target audience includes high-net-worth resort property investors and leisure travelers.
• Tuy Hoa - Phu Yen Green Energy Urban Area A 130-hectare green energy urban development in Phu Yen province featuring 305 shophouses, 292 adjacent lots, 309 semi-detached villas, and 217 single villas with modern commercial townhouse amenities. Targeted at residential buyers and investors in central Vietnam.
• Thung Ca Golf & Resort A 500-hectare resort development in Hoa Binh province featuring a 1.9 million m2 golf course, 72 model streets, 28 European-style villages, 44 shophouses, 226 villas, and over 1,550 resort rooms. Targets golf enthusiasts and resort property investors.
• HH House Cluster at Lot B3, Tran Thi Ly, Da Nang A mixed-use development in Da Nang with one connecting basement and five blocks ranging from 17 to 29 floors, including 992 service-business apartments, with a total investment of 1,300 billion VND. Targeted at urban residential and serviced apartment buyers.
• Vinahud Building - Trung Yen 9 Street A 19-storey commercial office building on 1.3 hectares in Cau Giay District, Hanoi, serving as the headquarters of VINAHUD and offering office leasing to commercial tenants.
• Trung Hoa - Nhan Chinh New Urban Area A 24.4-hectare urban development in Cau Giay and Thanh Xuan districts of Hanoi, featuring 17- to 34-storey apartment buildings along with schools, commercial areas, and services for urban residents.
• Dong Nam Tran Duy Hung New Urban Area A 2.96-hectare urban development in Cau Giay District, Hanoi, comprising four buildings ranging from 25 to 29 floors plus three basement levels. Targets middle to upper-middle income urban housing buyers.
• Real Estate Investment and Business Core business segment focused on investing in and developing real estate projects across Vietnam, ranging from resort real estate to metropolitan urban areas, as part of the company's long-term development strategy.
• Project Management Consultancy Professional project management consultancy services with over 14 years of experience managing real estate and construction projects in Vietnam, supporting urban area developments, high-rise buildings, and apartment complexes.
• Construction Services Direct construction services for urban areas, high-rise buildings, and apartment complexes delivered by expert construction management teams with experience in complex projects.

Quantifiable outcome

• Achieved 106.2% of 2022 after-tax profit plan (21.198 billion VND vs. 19.969 billion VND target)
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• Cenland (Century Land JSC)coreChannel Partner/ Reseller/ Distributor · 24 February 2022Cenland signed a strategic cooperation agreement with Vinahud to become the exclusive marketing and distribution partner for three projects: Vien Nam ecological urban area (Ky Son, Hoa Binh), Parahills project (Cao Phong, Hoa Binh), and Tien Phong Flower Village project (Me Linh). Cenland has over 20 years of real estate experience, 5,000+ brokerage specialists, and tens of thousands of agents. 2021 revenue reached 5,756 billion VND with 450 billion VND after-tax profit.
• FECON Joint Stock CompanyminorImplementation/ SI/ Consulting Partner · 28 November 2021FECON Joint Stock Company serves as the general contractor for the construction of the Grand Mercure Hoi An project, overseeing the building and construction process.
• Apave Asia Pacific Co., Ltd.minorImplementation/ SI/ Consulting Partner · 28 November 2021Apave Asia Pacific Co., Ltd. serves as the project management and supervision consultant for the Grand Mercure Hoi An project, providing quality assurance and compliance oversight during construction.
• BCG Land Joint Stock CompanycoreStrategic or Co-development Partner · 27 August 2021Vinahud and BCG Land signed a three-party strategic cooperation agreement (with TRACODI) to develop projects from Central Vietnam to Northern Vietnam. BCG Land, a key member of Bamboo Capital Group, focuses on resort real estate and luxury apartments in prime locations. Notable projects include King Crown Village, King Crown Infinity, Radisson Blu Hoi An, and Hoi An D'or.
• TRACODI (Transport and Industry Development Investment JSC)coreImplementation/ SI/ Consulting Partner · 27 August 2021TRACODI serves as the General Contractor overseeing construction for the three-party partnership with Vinahud and BCG Land. TRACODI was established in 1990 and listed on HOSE on May 26, 2017 (ticker TCD). Main segments include infrastructure construction, civil and industrial construction, quarrying, trade, labor export, and water treatment technology (MET). Total assets of 6,857.8 billion VND with charter capital of 872,091,520,000 VND.
• Accor GroupcoreStrategic or Co-development Partner · 27 April 2021Accor Group serves as the operational management organization for the Grand Mercure Hoi An resort, managing 118 villas and 785 rooms (392 hotel rooms and 393 tourist apartments). Accor brings a global distribution system and a 51-million-member loyalty program to the project. The resort was expected to begin operations in Q1 2023. Accor selected Grand Mercure Hoi An as a 'starlight' in its premium line for strategic development in famous tourist destinations.
• Huni ArchitectescoreStrategic or Co-development Partner · 27 April 2021Huni Architectes was selected as the planning and design partner for the Grand Mercure Hoi An project, responsible for creating the luxury resort space with 100% sea-view apartments and high-end amenities. The architectural design combines Italian features with Indochinese style elements.
• NetNamcoreTechnology or Integration · 27 April 2021NetNam was chosen as the strategic technology partner for Grand Mercure Hoi An, providing consulting and designing technology systems related to hotel and resort operations. NetNam directly participates in implementing and maintaining critical systems including network infrastructure and internet service management systems.
• NewstarHomescoreChannel Partner/ Reseller/ Distributor · 27 April 2021NewstarHomes, a member of NewstarGroup, was selected as the consulting partner for marketing management and sales management for the Grand Mercure Hoi An project, leveraging its longstanding experience and market reputation.

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Vinhomes: Vinhomes (HOSE: VHM) is Vietnam's largest real estate developer and the dominant listed player in residential and urban development. Comparable to Vinahud across residential, mixed-use, and resort segments but at vastly larger scale and with stronger brand recognition.
• Hoa Binh Construction Group: Hoa Binh Construction (HOSE: HBC) is one of Vietnam's largest general contractors serving commercial, residential, and industrial projects. Comparable to Vinahud as a contractor-builder with capability overlap in Vinahud's in-house construction segment.

Direct peers

• Novaland: Novaland (HOSE: NVL) is a major Vietnamese real estate developer with strong exposure to resort, hospitality, and mid-to-high-end residential projects across Vietnam. Highly comparable to Vinahud in product mix, particularly resort real estate and urban developments.
• BCG Land: BCG Land is a Bamboo Capital Group subsidiary developing resort real estate and luxury apartments in prime Vietnamese locations (King Crown Village, Radisson Blu Hoi An). It is both a Vinahud strategic partner and a direct competitor in Hoi An resort real estate.
• Nam Long Group: Nam Long (HOSE: NLG) is a Vietnamese residential developer focused on mid-market apartments, townhouses, and integrated urban areas. Comparable to Vinahud in urban residential and integrated development product type and target customer segments.
• Khang Dien House: Khang Dien House (HOSE: KDH) develops residential and urban housing projects in Ho Chi Minh City and surrounding areas. Comparable to Vinahud in mid-market residential development model and project-based revenue recognition.
• Phat Dat Real Estate: Phat Dat (HOSE: PDR) is a Vietnamese real estate developer with growing exposure to residential, hospitality, and industrial real estate. Comparable to Vinahud as a mid-cap developer pursuing aggressive project pipelines in multiple Vietnamese geographies.
• Dat Xanh Group: Dat Xanh (HOSE: DXG) operates across real estate brokerage, development, and services in Vietnam. Comparable to Vinahud in combining brokerage/distribution with in-house project development, particularly in residential and integrated urban areas.

Emerging players

• Sunshine Group: Sunshine Group is a fast-growing Vietnamese developer focused on luxury residential and resort properties. Comparable to Vinahud in pursuing premium-segment urban and resort real estate projects targeting upper-middle and high-net-worth buyers.

Regional players

• FECON: FECON (HOSE: FCN) is a Vietnamese foundation and civil engineering contractor that serves as general contractor on Vinahud's Grand Mercure Hoi An project. Comparable as a peer in the broader Vietnamese construction services market and infrastructure development space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 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 Vinaconex Urban and Housing Development Investment