On August 19, Vingroup officially broke ground on the Northwest Bac Ninh New Urban Area (Zone 1) – a project with a total investment of over 41 trillion VND, expected to become a new symbol of urban development in the “industrial capital” of the North.
The project is located in Kinh Bac ward, covering an area of approximately 277 hectares, with one side bordering the Cau River. According to the master plan, this will be a modern, synchronized urban area with a 7-year implementation timeline, expected to be completed and operational by 2032.
Of the total area, approximately 60 hectares are dedicated to housing, featuring nearly 3,500 villas, 4-story townhouses, and an apartment system of up to 35 stories. Additionally, the project allocates 9.5 hectares for social housing development, combined with a chain of amenities including offices, service centers, inter-level schools, hospitals, parks, and sports areas. Site clearance costs are estimated at over 1.1 trillion VND.
Following its new orientation, Vingroup is shifting its investment focus toward land banks spanning hundreds to thousands of hectares in suburban areas. The group's “mega-projects” will include a closed ecosystem consisting of housing, commerce, education, healthcare, and entertainment – the model that built Vinhomes' reputation across many provinces.
Notably, Bac Ninh is not the only locality currently “buzzing” with Vingroup's major projects.
In the first half of 2025 alone, the group has successively broken ground on a series of billion-dollar projects in Long An (Vinhomes Green City, over 197 hectares, 1.1 billion USD), Can Gio (Vinhomes Green Paradise, nearly 9 billion USD), Da Nang (Vinpearl Lang Van, nearly 44 trillion VND), and is preparing to break ground on Vinhomes Phuoc Vinh Tay in September with a total capital of 3.5 billion USD.
In Khanh Hoa, the “mega-city” of Cam Lam, with a scale of nearly 10 billion USD, is also in the site clearance preparation stage.
In its report at the 2025 Annual General Meeting of Shareholders, Vingroup set a record revenue target of 300 trillion VND and a profit after tax of 10 trillion VND, with the expectation that the Real Estate segment will grow significantly thanks to the clear recovery of the market.
It is not just Vingroup; Bac Ninh, after merging with Bac Giang to become a “super industrial province,” is becoming a focal point for attracting real estate investment. Early this year, Mr. Do Quang Hien's T&T Group proposed 3 projects with a scale of over 1,000 hectares; Sun Group is researching a riverside tourism-resort complex; while Phu My Hung is seeking land banks to develop urban areas for the international expert community.
The appearance of a series of real estate “giants” shows that Bac Ninh is entering a phase of reshaping its development map, transitioning from an industrial production center to a new growth pole for commerce, services, and high-end real estate.
With the advantage of the Hanoi – Hai Phong – Quang Ninh inter-regional infrastructure and open investment attraction policies, the local market is forecast to boom in the coming years.
Source: CafeLand Electronic Newspaper
