tsq viet nam

Name

tsq viet nam

Legal name

Công ty TNHH MTV TSQ Việt Nam

Website

https://tsq.vn

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development and Sales: TSQ Vietnam generates primary revenue from developing and selling residential properties including apartments (Euroland, Kepler Land), villas (European Vietnamese Community), and commercial units. Revenue is realized through unit sales at project completion.
2. Office and Retail Leasing: TSQ Vietnam operates commercial properties including TSQ Shopping Center and office spaces within their developments, generating recurring rental income. The company partners with IWG for co-working space operations at Hatay Millennium.
3. Service Apartments (TSQ-Stay): TSQ Vietnam operates a chain of 18-26 service apartments targeting young professionals, foreigners, business travelers, and families. Units integrate technology for booking and payment through mobile apps.
4. Education Facilities: TSQ Vietnam develops and operates educational facilities including True North International School, generating revenue through school operations and related services.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

TSQ Vietnam is a real estate investment and development company that develops, builds, and sells residential properties (luxury apartments, villas, shophouses), mixed-use complexes with commercial and office space, and operates education and serviced apartment facilities in Hanoi, Vietnam. Its portfolio includes Kepler Land twin towers, Euroland, Hatay Millennium, TSQ Shopping Center, True North International School, TSQ-Stay serviced apartments, and HQ co-working space. The company also generates recurring revenue from office and retail leasing.

Product overview

TSQ Vietnam is a real estate investment and development company established in November 2006 under TSQ Finance (Poland). The company's portfolio comprises completed residential projects (Euroland Luxury Apartment, European Vietnamese Village), operational mixed-use complexes (Thiên Niên Kỷ Tower, TSQ Shopping Center), an international school (True North School), and ongoing development (Kepler Land dual-tower complex). Adjacent to its core real estate business, TSQ Vietnam has expanded into hospitality and workspace services including the TSQ-Stay serviced apartment chain (app-based booking and management) and the IWG-operated HQ Coworking Space. The company operates as a single-entity investment holding structure with multiple project-level subsidiaries, not as a unified software platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Kepler Land Twin Towers Luxury dual-tower apartment complex at Khu đô thị Mỗ Lao, Hà Đông, Hanoi, featuring HH-01 (41 floors, 680 units) and HH-02 (37 floors, 620 units), commercial center, office spaces, and a smart Building Management System (BMS) with energy-efficient features. Targeted at middle to high-income residential buyers seeking modern amenities.
• Thiên Niên Kỷ Tower (Hatay Millennium) A 44-floor dual-tower mixed-use complex (683 apartments, 3 basement levels) at the Quốc lộ 6 / Chu Văn An intersection in Hà Đông, Hanoi. Includes commercial center, healthcare services, childcare, restaurants, and entertainment facilities. Designed by Bruce Henderson Architects (Australia). IWG manages office leasing under HQ co-working brand.
• Euroland Luxury Apartment (Chung cư cao cấp Euroland) A completed 29-floor dual-tower luxury apartment complex on 8,238 m² at Khu đô thị Mỗ Lao with approximately 600 units (80-125 m² each). Designed by Bruce Henderson Architects (Australia), with structural design by IDT International Group (Australia) and project management by Gleeds (UK). Targeted at premium residential buyers.
• European Vietnamese Village (Làng Việt Kiều Châu Âu) A residential villa community on 78,000 m² at Khu đô thị Mỗ Lao comprising 257 single/duplex villas (150-520 m², 3 floors) and 262 linked houses (86 m², 4 floors). 941 billion VND total investment. Targeted at affluent Vietnamese families including overseas Vietnamese (Việt Kiều) seeking European-style residential living.
• TSQ Shopping Center (Trung tâm thương mại TSQ) A commercial center within the Mỗ Lao Urban Area spanning 15,198 m² with approximately 100 retail units, playgrounds, and landscaped gardens. 240 billion VND investment. Serves retail tenants and provides shopping amenities to surrounding residential developments.
• True North International School (Trường Quốc Tế True North) A K-12 international school campus spanning 14,986 m² with 50+ classrooms, 13 specialized rooms (Music, Art, Online Learning, Science labs, Makerspaces), 4 outdoor sports fields, and a swimming pool. Operated in partnership with True North School. Targeted at expatriate and affluent Vietnamese families.
• TSQ-Stay Serviced Apartments A serviced apartment chain targeting tech-savvy youth, expatriates, business travelers, and families. Offers technology-integrated services including remote booking, laundry, cleaning, dining, and cashless payment via smartphone app. Currently operating 18 units (1-3 bedrooms), expanding to 26 units in 2024.
• HQ Coworking Space (IWG Partnership) Flexible office and co-working space operated under IWG partnership at Thiên Niên Kỷ Tower, Hà Đông. Part of IWG's global network of 3,500+ locations across 120+ countries serving 2.5 million users. 10-year cooperation agreement.
• TSQ Office Space for Rent Office space leasing services within TSQ's mixed-use developments, including managed office spaces in collaboration with IWG (HQ co-working brand). Targeted at corporate tenants seeking office space in Hà Đông district.

Quantifiable outcome

• 5 major projects completed/delivered since 2006 with over 1,800 residential units handed over
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• MS Real Holdings (MS Real)coreChannel Partner/ Reseller/ Distributor · 8 May 2025Strategic exclusive partnership for development and distribution of Kepler Land HH-01 apartments. MS Real serves as the exclusive distribution agent for the 680-unit tower, with signing ceremony held May 8, 2025 at InterContinental Hotel.
• Nam Son Invest (Nam Son Invest., JSC)coreChannel Partner/ Reseller/ Distributor · 25 March 2025Exclusive distributor for 620 apartments in Kepler Land HH-02 tower. Company registration number 0109513659, located at Floor 5, CT1, The Pride Complex, An Hung Urban Area, Ha Dong District, Hanoi.
• Nhan Ai International JSC (Cong Ty Co Phan Quoc Te Nhan Ai)minorStrategic or Co-development Partner · 7 June 2024Partnership for developing elderly care facilities at Kepler Land project. Memorandum of understanding signed June 7, 2024 for investment, construction, and operation of elderly care models.
• Dai Nam University (Truong Dai Nam)minorStrategic or Co-development Partner · 6 March 2024Educational cooperation for construction economics and civil engineering programs. TSQ Vietnam supports internship programs, professional skills training, and preferential recruitment of Dai Nam University graduates.
• MB Bank (Military Commercial Joint Stock Bank)coreStrategic or Co-development Partner · 3 October 2023Comprehensive banking partnership including financing for Kepler Land project customers, service provision for TSQ Vietnam operations, and strategic cooperation for future developments. Signing held at MB Bank Head Office 18 Le Van Luong, Hanoi.
• IWG (International Workspace Group)coreStrategic or Co-development Partner · 10 October 2022Partnership for co-working space operations at Hatay Millennium building. IWG manages office leasing operations and holds franchise agreement for 10-year cooperation period. IWG operates 8 brands across 3,500+ locations in 120+ countries serving 2.5 million users.
• Coteccons (Cipax)coreImplementation/ SI/ Consulting Partner · 30 September 2021Main contractor for True North School construction project. Coteccons committed to quality construction, safety, and schedule adherence. Project groundbreaking September 30, 2021 with handover planned Q2/2022.
• True North School (TNS)coreStrategic or Co-development Partner · 30 September 2021Strategic partnership for international K-12 school development within TSQ's Mo Lao urban area. True North School operates the international school facility developed by TSQ Vietnam with 50+ classrooms and 13 specialized rooms.
• Bruce Henderson ArchitectscoreTechnology or IntegrationAustralian architectural firm providing architectural and interior design services for Euroland and Hatay Millennium projects. Designer of Hatay Millennium's silk-inspired facade with interlaced horizontal and vertical structural elements.
• Gleeds (United Kingdom)minorImplementation/ SI/ Consulting PartnerProject management firm directly managing Euroland development project.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Becamex IDC: Vietnamese industrial and urban real estate developer listed on HOSE, focused on industrial parks, townships, and mixed-use developments primarily in Bình Dương province. Comparable in integrated township model combining residential, commercial, and industrial uses, though with a different geographic focus and a heavier industrial-tilt.
• Kinh Bắc City Development (KBC): Vietnamese listed real estate developer with a focus on industrial parks, urban areas, and mixed-use developments primarily in the northern provinces surrounding Hanoi. Comparable in geographic and product adjacency to TSQ's Hanoi operations, particularly the integrated township approach, though with a heavier industrial real estate tilt.

Broad incumbents

• Sun Group: Major Vietnamese conglomerate with large-scale real estate, resort, and infrastructure developments across Vietnam including luxury residential, hospitality, and entertainment complexes. Comparable in delivering premium mixed-use developments with international design and integrated amenities, though at significantly larger scale and broader geography than TSQ.
• Vinhomes: Vietnam's largest residential real estate developer, listed subsidiary of Vingroup. Develops large-scale master-planned urban townships and high-rise apartments across Hanoi and HCMC, with mixed-use ecosystems integrating residential, commercial, education, and healthcare. Highly comparable business model to TSQ but at vastly greater scale, broader geography, and with public-market access.
• Novaland (Nova Group): Major Vietnamese real estate developer with a portfolio of mid-to-high-end residential and mixed-use projects concentrated in HCMC and surrounding provinces. Comparable to TSQ in target customer (mid-to-high-income buyers), product type (apartments, villas, mixed-use complexes), and integrated township development approach, though geographically focused on southern Vietnam.
• Hưng Thịnh Land (Hung Thinh Group): Large Vietnamese real estate developer operating across HCMC and other southern provinces with mid-market residential apartments, commercial centers, and integrated townships. Comparable in product mix and customer segment to TSQ, though broader in geography and not focused on Hanoi's western corridor.

Direct peers

• Nam Long Group: Vietnamese listed real estate developer focused on mid-to-high-end residential townships (EHome, Flora, Valora, Akari branded product lines) and mixed-use developments with Japanese and Singaporean partners. Directly comparable to TSQ Vietnam in product positioning, target buyer profile, mixed-use township model, and Vietnam-focused geographic footprint.
• Phat Dat Real Estate Development: Ho Chi Minh City-headquartered Vietnamese real estate developer listed on HOSE, focused on mid-to-high-end residential and mixed-use projects. Operates similar product (apartments, villas, shophouses) for a comparable target market. Comparable in product mix and development cycle, though geographically distinct from TSQ's Hanoi focus.
• Tập đoàn Bất động sản An Gia (An Gia Real Estate): HCMC-based mid-cap Vietnamese residential developer listed on HOSE, focused on affordable-to-mid-end apartments and mixed-use projects for middle-class buyers. Comparable in product positioning, target customer segment, and apartment-led business model, though geographically focused on southern Vietnam.

Others

• FLC Group: Vietnamese conglomerate with large-scale residential, hospitality, and resort real estate projects. Comparable in the mixed-use residential + hospitality model TSQ is pursuing (TSQ-Stay, IWG partnership), though FLC has experienced significant financial stress in 2022-2023 and is a cautionary parallel for capital-intensive developers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tsq-viet-nam

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 tsq viet nam