Vingroup signed a memorandum of understanding on a 6,300-hectare urban area, replacing 300,000 vehicles.

On October 25, Vingroup and the Kinshasa city government signed a memorandum of understanding to cooperate in researching and implementing a 6,300-hectare riverside metropolis on the south bank of the Congo River, north of N'djili International Airport, and to develop a green transport system to replace more than 300,000 gasoline-powered vehicles with electric vehicles. The plan includes a network of electric buses, electric taxis and charging station infrastructure; the city has committed to allocating land for the construction of charging infrastructure.

Mr. Daniel Bumba Lubaki, Governor of Kinshasa City (right) and Ms. Le Thi Thu Thuy, Vice President of Vingroup at the signing ceremony of the memorandum of understanding. Photo: Vingroup

Price movements and data release

The document signed on October 25 did not disclose the total investment, the selling price of real estate products or the price range for electric transport services. Therefore, there is no data on price movements to compare by week, month or year. The confirmed quantitative data currently includes: the scale of 6,300 hectares and the plan to replace more than 300,000 gasoline-powered vehicles in Kinshasa; the city committed to allocating land for charging infrastructure.

Policy drivers and scope of cooperation

Under the agreement, the two sides will expand green transport cooperation: developing electric buses, electric taxis and charging station infrastructure operated by VinFast and GSM. VinFast is expected to provide vehicles for the plan to replace more than 300,000 gasoline-powered vehicles; at the same time, research and deploy electric buses and BRT routes. Vingroup representatives said the city will provide free land to implement the project, aiming to create a modern urban center and improve the quality of life in Kinshasa.

Kinshasa market history and context comparison

Kinshasa is the capital and largest city of the Democratic Republic of Congo with a population of around 17 million, a political , economic and cultural hub and one of the fastest growing urban areas in Africa. The signing on October 25 marks the start of a large-scale cooperation on real estate and electrification of local transport. The plan to replace more than 300,000 gasoline-powered vehicles shows the focus on green transformation in urban infrastructure.

Implementation trends: short and medium term

In the short term, the main activities are feasibility studies, detailed planning and legal and land preparation for the 6,300-hectare urban area, along with technical assessments for charging networks and electric vehicles. In the medium term, if approved, the cooperation is expected to prioritize the following pillars: piloting electric buses and electric taxis, defining BRT routes, expanding charging infrastructure according to the city's land allocation commitment, and gradually replacing the gasoline-powered vehicle fleet.

Expected impacts on real estate and green transport

For real estate, the 6,300-hectare scale covers a variety of sub-areas: houses, villas, apartments, hospitals, schools, commercial centers, hotels, entertainment areas and future administrative agencies, which can increase the demand for technical infrastructure and urban services. In the green transportation sector, the electrification plan of over 300,000 vehicles forms a market for electric vehicles, charging services, e-bus and e-taxi operations and related infrastructure technical standards.

Statements from government and businesses

Mr. Daniel Bumba Lubaki, Governor of Kinshasa, highly appreciated Vingroup's urban development experience in Vietnam and internationally: "This cooperation will open a turning point, towards a modern and sustainable urban area for the people of Kinshasa," he said. Vingroup Vice President Le Thi Thu Thuy commented that the project helps promote sustainable development goals, infrastructure connectivity and electrified transportation in Congo.

Factors to Watch

Total investment, planning and land approval progress for the 6,300 ha area.
Roadmap to replace more than 300,000 gasoline-powered vehicles, phase 1 scale.
Technical standards, planning and coverage of electric charging infrastructure.
Pilot plan and operation of BRT, e-bus, e-taxi routes.
VinFast and GSM's vehicle operation and supply model.

Business context

Vingroup is the largest private multi-industry corporation in Vietnam, operating in the fields of industry - technology, trade - services, infrastructure, energy and charity. The Group was ranked by Time Magazine as one of the top 1,000 global outstanding companies for its contribution to innovation, sustainable development and international influence.

Source: https://baolamdong.vn/vingroup-ky-ghi-nho-do-thi-6300-ha-thay-300000-xe-397716.html