New Developments at the 289 Kinh Dương Vương 'Golden Land' Site in Ho Chi Minh City

New developments at the 289 Kinh Dương Vương land plot in An Lạc Ward, Tân Bình District—on Ho Chi Minh City’s western gateway corridor—have drawn attention as the project appears under different brand names. A sign at the site lists The Westique Residence, while the developer’s official website refers to the project as The Kingdora. CTCP Bất động sản Bản Việt (VCRE) presents the development as a premium flagship along the Kinh Dương Vương axis.

Land transfer and ownership changes

On 26 January 2024, the Board of BV Bank approved the transfer of land-use rights at 289 Kinh Dương Vương, An Lạc Ward, Tân Bình District (old). The transaction was carried out in the first half of 2024.

Bank reports indicate the original value of the land-use rights fell by about 225 billion đồng in the first half of 2024 due to asset liquidation. BV Bank recorded a liquidation asset receivable of 225 billion đồng from TD ICONIC, with the balance having no residual by the end of 2023. The bank stated the receivable was settled by the time of the 2024 audit.

In a November 2025 report by the Ho Chi Minh City Department of Agriculture and Environment, the TD ICONIC-led The Kingdora project at 289 KDV was identified as the developer.

The land area of 2,145.7 square meters has changed hands multiple times: from individuals who resided there to subsequent transfers in 2016, then to BV Bank in 2018, and finally to TD ICONIC in June 2024.

Investment policy approval and project parameters

Less than a year later, in August 2025, the People’s Committee of Ho Chi Minh City approved the investment policy for the Kingdora project with TD ICONIC.

• Maximum building density: 40%
• Land-use coefficient: 6
• Total approved investment: nearly 425.3 billion đồng
• Project duration: 50 years from the date of investment approval
• Equity contribution by TD ICONIC: 20% in cash (more than 85 billion đồng)
• Financing structure: about 213 billion đồng via loans from financial institutions and 127.6 billion đồng via customer mobilization

Master plan approval and unit count

In November 2025, An Lạc Ward approved a 1/500 master plan for the project. The plan covers about 2,126 square meters (slightly smaller than the land’s actual area).

• Total floor area: 9,992 square meters
• Floor-area ratio: 4.7
• Planned apartments: 95
• Building height: 70 meters (15 floors above ground)
• Projected population: 239

Signage for The Westique Residence currently advertises 99 units, compared with the 95 units stated in the 1/500 master plan.

Location and connectivity

The site is on the Kinh Dương Vương axis and has multi-directional access to District 6, District 5, and central District 1 via Võ Văn Kiệt Avenue, with a fast link to the southern area via Nguyễn Văn Linh Avenue. The article notes that due to inner-city land scarcity, acquiring a clean site for a housing project is not easy.

Developer profile and corporate updates

TD ICONIC was established in December 2022 in Bình Thạnh District, specializing in real estate. Initial charter capital was 30 billion đồng. In April 2024, just over two months after BV Bank’s land-transfer decision, the company increased charter capital to 120 billion đồng. In mid-2024, after BV Bank transferred the land, the legal representative changed to Trần Tuấn Anh (born 1992) and remains in that position.

VCRE’s other projects and corporate information

In the housing segment, besides Kingdora, VCRE says it is developing The Vedette, though limited information is available. VCRE states The Vedette is located at the gateway to Saigon near a metro station and the high-tech park, with easy access to Tân Sơn Nhất International Airport and major routes.

In the leisure segment, VCRE previously acquired The Shells project in Phú Quốc from Trần Thái and is currently promoting Nobu Đà Nẵng.

VCRE was founded in 2007 and currently has a charter capital of 325 billion đồng. Võ Thành Lâm serves as CEO and legal representative.