Vietnam's Vinhomes Halts Land Acquisition to Focus on Existing Projects

Vinhomes, Vietnam's largest real estate developer, has decided to halt further land acquisition across the country, a move directed by Vingroup Chairman Pham Nhat Vuong. This decision, however, does not signal a withdrawal from the real estate market. Instead, the company intends to concentrate on enhancing the value of its existing projects.

This strategic shift comes as Vinhomes reported a remarkable financial performance in the first quarter of 2026. Revenue surged by 315% year-on-year to VND 65.114 trillion (approximately $2.5 billion USD), with consolidated after-tax profit reaching VND 25.625 trillion ($1 billion USD), an 866% increase compared to the same period in 2025. Handover activities at the Vinhomes Ocean City and Vinhomes Royal Island projects were key drivers of this growth.

Financially, Vinhomes possesses a substantial land bank. As of March 2026, its inventory value exceeded VND 138.990 trillion ($5.4 billion USD), a nearly 6% increase from 2025 and a 2.5-fold rise since the end of 2023. The majority of this inventory consists of properties under construction, valued at VND 117.678 trillion ($4.6 billion USD).

According to Chairman Pham Thieu Hoa, the decision to pause land expansion is based on two primary reasons. Firstly, the company has accumulated sufficient land reserves to sustain development for the next 5-7 years. Secondly, Vinhomes will redirect resources towards developing and improving its current projects, aiming to generate higher value per square meter and contribute to Vietnam's economic growth targets.

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Knowing enough and concentrating even more on creating higher added value content for every square meter of the project.