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Vietnam’s large domestic conglomerates, long known for core manufacturing businesses such as steel, consumer goods, confectionery and footwear, are increasingly expanding into real estate. While many have participated in property development for some time, several groups have recently accelerated their moves into industrial real estate and housing.
Hoa Phat Group, Vietnam’s largest steel producer, is intensifying its industrial real estate and housing expansion. The group is focusing resources on Industrial Park No. 6 in Hung Yen, covering more than 230 hectares with capital of over 2.7 trillion VND.
Hoa Phat is also implementing additional industrial parks—Ly Thuong Kiet, Hoang Dieu and Dong Phuc—bringing total industrial park land to over 2,680 hectares by the end of 2025.
Alongside industrial park development, Hoa Phat is expanding into housing. The worker housing and social housing project at Yen My II Industrial Park (Hung Yen) covers 31 hectares, with about 9,000 units scheduled to start in August 2025 and handover expected from 2027.
The company is also expanding Yen My II Industrial Park Phase 2, covering 216 hectares with nearly 2.7 trillion VND.
Tan A Dai Thanh Group, known for stainless steel water tank manufacturing, has also developed into a professional real estate developer. Its Meyhomes Capital Phu Quoc urban area project covers nearly 270 hectares, with total investment of more than 59,000 billion VND. Several subareas, parks and entertainment facilities are already in operation.
In Hung Yen, the group has been approved to invest in the Văn Nhuệ – Hoàng Hoa Thám Industrial Park, covering 199 hectares. In Hanoi, it is developing an urban area along Ring Road 4 in Dan Phuong covering more than 64 hectares, reflecting a shift toward a multi-functional urban developer role. The company is also developing a series of urban areas along Ring Road 4 in Dan Phuong with total planned investment exceeding 24,000 billion VND.
Bitis (Bình Tiên Consumer Goods Co., Ltd.), originally a footwear brand, has moved into real estate by leveraging part of its former factory land. After a period of stagnation, Bitis rebounded following marketing campaigns featuring artists including Sơn Tùng M-TP and Soobin Hoàng Sơn.
Recently, Bitis broke ground on a TOD shopping center in Hanoi’s Hà Đông district with more than 83,500 square meters of gross floor area, including five floors above ground and two basements. The project is located near Yen Nghĩa metro station.
The 11-hectare land at Yen Nghĩa is planned for a residential-commercial-service complex with total investment exceeding 5,200 billion VND. In the south, Bitis also holds development land for about 800 apartments in Ho Chi Minh City, alongside tourism projects in Sa Pa.
KIDO Group is taking a more cautious approach to real estate by entering the sector through land banks accumulated from member companies. Its focus includes the Lavenue project at 8-12 Lê Duẩn (Ho Chi Minh City), as well as plans such as Whale Bay and Central Tower.
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