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Biggest Real Estate Developers in Vietnam

Posted by Harry Nguyen on 04/15/2024
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Location is the most important thing when investing in real estate. However, another equally important factor that investors pay attention to when looking for real estate is the developer. Understanding real estate developers’ information, investors can choose and win when buying real estate in off-plan projects or presale apartments. Therefore, for foreign investors looking to buy apartments in Vietnam, they may be interested in the biggest real estate developers in Vietnam.

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Vinhomes (VinGroup)

vinhomes 2024 logo

Choosing the top real estate developer in Vietnam isn’t a tough call—it’s Vinhomes, hands down. They’ve been ruling the real estate scene in the country for the past decades. With projects scattered across most provinces and cities, Vinhomes always stands out as the highlight of the region. It’s part of the VinGroup, a massive conglomerate with a finger in many pies: Vinhomes for residential real estate, Vincom Retail for commercial real estate (which they’ve sold), VinFast for electric cars, VinSchool for international education, and Vinmec for medical services.

Vinhomes hit the ground running with resounding success in Hanoi, starting with projects like Vincom Ba Trieu in 2003, followed by Royal City in 2010 and Times City in 2011. Since then, they’ve been snapping up prime land across the city and leaving their mark with high-end projects like Vinhomes Metropolis, Vinhomes Riverside, and Vinhomes Skylake. With a highly disciplined team and solid financial backing, Vinhomes has cemented its reputation as a top-tier real estate company, earning the trust and love of the Vietnamese people.

vinhomes top developer in vietnam

Whether it’s Vinhomes or Vincom (the commercial real estate arm of VinGroup), their presence is felt nationwide, often reshaping the pricing dynamics of entire areas. From 2010 to 2015, owning a Vinhomes property was a mark of prestige. They’ve since expanded their portfolio to include more affordable projects like Vinhomes Smart City in the west of Hanoi and Vinhomes Ocean Park in the east.

After conquering the Northern market, Vinhomes set its sights on the South. In 2016, they launched the Vinhomes Central Park project in Binh Thanh district, Ho Chi Minh City, which was a smash hit. The iconic Landmark 81 tower became a symbol of the entire city. They’ve followed up with other successful ventures like Vinhomes Golden River and Vinhomes Grand Park.

Vinhomes’s apartments are now for sale

CapitaLand Development

capitaland 2024 logo

CapitaLand is certainly a familiar name to many domestic and foreign investors. As an international real estate developer, it boasts a presence in numerous countries and cities worldwide, with its headquarters located in Singapore. Currently, CapitaLand has projects spanning across 260 cities in 40 countries. Renowned for its high-end real estate portfolio, CapitaLand Development (CLD) has achieved success even in challenging markets like China and Europe.

In Vietnam, CapitaLand has been active since 1994, primarily focusing on the hotel industry. Notable hotels under its belt include Meritus Westlake (now Pan Pacific after a change in ownership), Somerset West Lake, and Hanoi Tower. CapitaLand Development’s foray into apartment projects began with The Vista in 2008, completed in 2011. Subsequently, they have launched several other upscale apartment projects such as Vista Verde, Feliz en Vista, D1Mension, d’Edge Thao Dien, D2eight, De La Sol, DEFINE, and ZENITY, all of which have garnered attention from affluent buyers.

capitaland top developer in vietnam

In the Hanoi apartment market, CapitaLand initially focused on projects located on the outskirts of the city, such as Mulberry Land and Seasons Avenue. Their flagship inner-city project, Heritage Westlake, set a market benchmark with prices ranging from about 5,000 to 6,000 USD per square meter at launch. Offering luxurious apartments with West Lake views and top-notch amenities from brands like Gaggenau, Gessi, Poggenpohl, Smeg, and Villeroy & Boch, Heritage Westlake epitomizes high-end living.

In 2024, CapitaLand introduces a new landmark project called Lumi Hanoi, comprising a complex of nine apartment buildings. Strategically located in the western part of Hanoi along the urban development axis flanking Thang Long Avenue, Lumi Hanoi aims to redefine contemporary urban living in the capital city.

CapitaLand’s apartments are now for sale

Masterise Homes

masterise homes logo 2024

Masterise Homes, formerly known as Thao Dien Investment, was established in 2007. In an era where prime urban land is increasingly scarce, Masterise Group holds a strategic advantage with its ownership of coveted land parcels, setting it apart from many real estate giants. Despite its relatively recent establishment, the group has made waves by focusing on the high-end housing market and expanding its presence internationally in hotel management and operation real estate.

In 2021, Masterise Group made headlines with the launch of apartments for sale at the Grand Marina Saigon project, priced between 15,000 and 16,000 USD per square meter. This exceeded the market norm for super luxury apartments in Ho Chi Minh City, which was around 3,000 USD per square meter at the time. At a sales event in Hong Kong in March, the starting price for apartments at Grand Marina Saigon even soared to an unprecedented 18,000 USD per square meter in Vietnam. While branded apartments had made appearances in Vietnam since 2006, it was Masterise Homes that truly transformed the luxury real estate market.

masterise home top developer in vietnam

In the Hanoi market, Masterise made waves with its acquisition of The Grand Hang Bai project, which stands as the priciest apartment building in the city, priced at 25,000 USD per square meter. In 2023, through collaboration with real estate giant Vinhomes, Masterise Homes achieved success with the Masteri West Heights project at Vinhomes Smart City and Vinhomes Waterfront at Vinhomes Ocean Park. Continuing its streak in 2024, the developer made headlines once again with the opening of the A2 Lumiere Evergreen apartment building for sale in Vinhomes Smart City, priced between 3,000 and 3,300 USD per square meter.

Masterise Homes’s apartments are now for sale

Above is a list of the three largest real estate developers in Vietnam (updated for 2024). Apart from these major players, there are several other prominent developers such as Sun Group, Ecopark, Van Phu Invest, and Phu My Hung. Should you have any inquiries regarding developers in Vietnam, please feel free to reach out to us for further information. If you believe any other names should be included in the list of prestigious developers in Vietnam, please don’t hesitate to inform us. Or check out apartments for sale in Hanoi now.

This article reflects the author’s personal viewpoint, drawing from their experience and understanding of the real estate industry. It does not aim to endorse any particular real estate developer, nor does it assert the capabilities, brand, or reputation of the developers discussed within.

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