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At Vinaconex’s 2026 annual general meeting, company leadership outlined plans to participate in the development of the “golden land” site at 277 Nguyen Trai Street by increasing its stake in Giầy Thượng Đình (GTD). Vinaconex intends to acquire about 24% of GTD’s equity in partnership with other investors to develop the project.
Leadership said the site, located in central Hanoi, has high commercial value if converted for residential use. Vinaconex described its involvement in Giầy Thượng Đình as more than a financial investment, positioning it as a strategic step to expand its land bank in a core urban area where supply is increasingly scarce. The company added that if the project proceeds on schedule, it could become a material contributor to Vinaconex’s mid-term earnings.
For GTD, the company will hold its 2026 annual general meeting on May 6, 2026. Based on publicly disclosed materials, GTD will seek shareholder approval to move its manufacturing plant from 277 Nguyen Trai, Khương Đình, Hanoi to the Dong Van Industrial Zone in Duy Hà, Ninh Bình. The relocation is expected to take place from May 2026 to August 2026.
After the plant is moved, GTD plans to develop a mixed-use project on the 36,105 m2 site at 277 Nguyen Trai, Khương Đình. The planned development includes residential, office, commercial components, and an inter-level (multi-tier) school in Khương Đình.
Total investment for the project is estimated at about 9,907 billion VND, excluding interest, land use fees, and land lease costs. Funding will come from the company’s own capital and other legally mobilized funds.
Vinaconex’s disclosed funding plan for the project indicates the use of around 20% own capital, about 1,981.4 billion VND, with the remaining 7,925.6 billion VND financed through loans.
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