'Mega construction site' of real estate in the South.

Vingroup, Novaland, Nam Long, Phat Dat... are all accelerating the implementation of projects, demonstrating their determination to realize ambitious growth plans.

In late May, construction activity at many real estate projects in the South became significantly more vibrant than in the same period last year. In Dong Nai , Bcons Group recently broke ground on a high-rise mixed-use residential complex in Tam Hiep with a total investment of nearly 4,500 billion VND , expected to provide more than 2,800 apartments to the market.

Not only medium-sized businesses, but also major players in the market are accelerating the pace of project implementation.

Southern real estate tycoons accelerate their pace.

Previously, on May 20th, Nam Long, together with its Japanese partners, held the groundbreaking ceremony for the CCTM1 project within the Mizuki Park urban area in Ho Chi Minh City. The project is being developed as a mixed-use commercial and residential complex, comprising a 20-story tower with 191 apartments, a commercial podium, and internal amenities.

This is the latest project being developed at Mizuki Park, a 26-hectare urban area in the southern part of Ho Chi Minh City.

Simultaneously, Nam Long is also accelerating the development and preparation of additional supply to the market in major urban areas such as Waterpoint ( Tay Ninh ), Izumi City (Dong Nai), and Paragon (Dong Nai).

Mizuki Park urban area by Nam Long in Ho Chi Minh City. Photo: Developer .

While Nam Long is accelerating its housing projects, Vingroup is making its mark with large-scale projects worth tens of thousands to hundreds of thousands of billions of VND. Last April, the group commenced construction of the International University Urban Area (Vinhomes Saigon Park) in Xuan Thoi Son commune, Ho Chi Minh City, with a total investment of approximately 59,000 billion VND . The project is planned for around 135,000 residents and 60,000 students, integrating a large-scale ecosystem of housing, education , commerce, and services.

Just one month after construction began, the developer opened a sales office, unveiled a model of the mega-city, and introduced the first phase, named Global Park.

In Can Gio, Vingroup is also focusing its efforts on developing the Can Gio Green Paradise urban area, a 2,870-hectare project built on reclaimed land. After more than a year of construction, the project has formed many reclaimed areas with thousands of workers working on the construction site every day.

The land plot for the Vinhomes Saigon Park International University Urban Area project in Xuan Thoi Son commune, Ho Chi Minh City. Photo: Quynh Danh.

In the eastern part of Ho Chi Minh City, Masterise Homes continues to accelerate the development of The Global City on a 117-hectare plot of land. Here, Masteri Grand View – the first high-rise apartment subdivision – has been topped out and is entering the finishing stages, preparing for handover this year. Previously, the company also introduced the upscale Sola subdivision (Sun Island), positioned as the new luxury product of this large urban area.

In the Sala urban area, Dai Quang Minh (part of Thaco Group) is accelerating the progress of the Sarene Residence & Commercial Complex project on plot 6.8 in the northern subdivision and the Savila low-rise subdivision in the southern part of the urban area.

Right next to it, SonKim Land is also accelerating construction of The Opusk Residence subdivision within The Metropole Thu Thiem project. At the same time, the company has also announced plans to develop the Thu Thiem railway station complex.

Notably, after a period of focusing on legal matters and financial restructuring, Novaland has shown clear signs of recovery as it simultaneously restarts key projects.

In Dong Nai, the Aqua City project is entering a phase of accelerated construction after many legal obstacles have been removed. The company stated that it is speeding up construction progress in various subdivisions with the goal of completing and handing over thousands of units in the 2026-2027 period.

Meanwhile, in the heart of Ho Chi Minh City, two projects, Victoria Village and The Grand Manhattan, are also entering their final stages of completion and are expected to be handed over this year.

Another notable development comes from Phat Dat. Besides accelerating the progress of projects in the Binh Duong area, the company recently announced that it has officially transferred a deposit of VND 900 billion under a memorandum of cooperation with Lotte Properties HCMC related to the Thu Thiem Eco Smart City project.

This move is seen as a new step in Phat Dat's participation in one of the largest and most strategically located projects in the Thu Thiem new urban area. The Chairman of Phat Dat previously shared that this collaboration is expected to contribute positively to business results in the coming years.

The growth race

The simultaneous acceleration of project implementation by numerous businesses is not a surprising development. After a period of restructuring and resolving legal issues, many investors are entering 2026 with ambitious revenue and profit plans, even reaching the highest levels in many years.

For real estate businesses, business results depend primarily on sales progress and product handover. Therefore, to realize the goals committed to shareholders, developers are forced to accelerate construction progress, bring projects to market early, and increase new supply.

For example, Vinhomes – a real estate company within the Vingroup ecosystem – is one of the businesses that best demonstrates this expectation. At its annual general meeting, the company raised its consolidated revenue target for 2026 to VND 285,000 billion and its after-tax profit target to VND 60,000 billion , significantly higher than the targets announced at the beginning of the year.

According to management, the adjustments were made after the company recorded positive results in the first quarter and found that many projects had created a favorable foundation for accelerated growth in the remaining quarters.

Not only Vinhomes, but Novaland also shows its ambition to make a strong comeback after a prolonged period of difficulty. The company's leadership affirms that it has overcome the most challenging period and is heading towards a new growth cycle with a target of achieving net revenue of over 22,700 billion VND this year, more than three times the results of the previous year.

This plan is based on a series of key projects that are being restarted and accelerated.

Many businesses are showing ambition to make a strong comeback after a prolonged period of difficulty. Photo: Quynh Danh.

Similarly, Phat Dat aims for revenue of VND 8,830 billion and after-tax profit of VND 868 billion , an increase of nearly 70% compared to 2025.

Nam Long is equally ambitious, setting a sales target of VND 23,460 billion in 2026, double that of 2025, primarily driven by key projects such as Paragon, Southgate, Izumi, Mizuki, and a 43-hectare urban area in Can Tho. Expected handover revenue is VND 8,032 billion , a 35% increase, leading to net revenue and net profit of VND 7,630 billion and VND 720 billion respectively.

Although this target was set in anticipation of significant fluctuations in the international market, management stated that they remain confident in achieving or nearing the plan thanks to the progress and positive results in the first quarter. In the coming quarters, major sales launches will continue from key projects.

According to Ms. Do Thi Thu Hang, Senior Director of Consulting and Research at Savills, the real estate market is entering a more intense period of consolidation than ever before. With access to capital becoming increasingly tightly controlled, funds will prioritize projects with high feasibility and developers with strong financial capabilities.

Ms. Hang argued that only businesses with stable cash flow, diversified capital raising capabilities, and strong risk management skills have the resources to maintain project progress and implement customer support policies. Conversely, businesses that rely too heavily on financial leverage will face increasing pressure as raising new capital becomes more difficult.

This also explains why market differentiation is becoming increasingly pronounced. While large enterprises are continuously launching new projects, boosting sales, and expanding land holdings through partnerships or M&A deals, many other businesses are still struggling with cash flow and restructuring. "For this group of businesses, drastic restructuring or accepting exit from the market are unavoidable scenarios," she added.

Source: https://znews.vn/dai-cong-truong-bat-dong-san-phia-nam-post1655719.html