Vinhomes Chairman Outlines Real Estate Market Outlook for 2026

Entering 2026, Vietnam’s real estate market is expected to move into a selective recovery phase, with a shift toward green, sustainable, transparent, and more disciplined development. In its 2025 annual report, Vinhomes (ticker: VHM) said the market outlook will be shaped by ongoing efforts to remove legal bottlenecks and facilitate supply, while the business environment will still face legal and financial challenges that require companies to maintain high adaptability.

Market outlook: selective recovery and demand for green urban products

Vinhomes’ Chairman of the Board, Pham Thieu Hoa, said the market will enter a selective recovery phase driven by green, sustainable, transparent, and tighter discipline in development. He added that real demand and urban products meeting green living standards—along with well-planned projects—will remain the core drivers of the market.

Vinhomes said it will continue improving existing projects, expand its portfolio of key projects, and prioritize development of model urban areas in Hanoi, Ha Long, Da Nang, Khanh Hoa, and other strategic provinces nationwide.

2025 highlights: new launches and strong financial performance

Earlier in 2025, Vinhomes launched four large-scale projects in strategic locations: Vinhomes Golden City (Hai Phong), Vinhomes Wonder City (Hanoi), Vinhomes Green City (Tay Ninh), and Vinhomes Green Paradise (Ho Chi Minh City).

Vinhomes described 2025 as a milestone year, reporting strong business results. The value of newly signed contracts (sales) reached 205,300 billion dong, while sales not yet handed over totaled 186,400 billion dong, indicating steady absorption in major urban hubs.

Total consolidated revenue approached a near-record of 183,100 billion dong, up 29% year-on-year and above the annual target. After-tax profit reached 43,300 billion dong, supported by timely handovers at large-scale projects including Vinhomes Royal Island and the Vinhomes Ocean Park series 2 and 3 within the Ocean City complex.

Financing: bond issuance to strengthen the financial base

In addition to operating performance, Vinhomes issued bond tranches totaling 31,540 billion dong in 2025, supporting its financial base and long-term development plans.

2026 plan and shareholder proposals

At the upcoming 2026 shareholders meeting, Vinhomes is expected to present its 2026 business plan with a revenue target of 250,000 billion dong and after-tax profit of 50,000 billion dong. This would represent increases of 63% and 16%, respectively, compared with the previous year.

On profit distribution, Vinhomes plans to pay cash dividends at 60% of charter capital (VĐL), equivalent to 6,000 dong per share, totaling nearly 25,000 billion dong. The company will also pay a 100% stock dividend by issuing an additional 4.1 billion shares, raising charter capital to over 80,000 billion dong, with implementation planned for 2026.

Furthermore, the Board of Directors will propose adding energy and logistics activities, specifically electricity production, transmission and distribution, as well as rail-based freight and passenger transport.