Key facts
- VinFast Vietnam will acquire 100% of Ngoc Hoi Real Estate Investment.
- Ngoc Hoi Real Estate Investment has a 20% economic interest in the Hanoi International Sports Urban Area project.
- The acquisition is valued at $1.2 billion.
- The deal aims to diversify VinFast's cash flow and support its EV strategy.
- Vinhomes will be the lead developer for the Hanoi International Sports Urban Area project.
Vietnamese electric vehicle maker VinFast announced on Wednesday, September 16, 2026, plans to acquire a property firm from its founder for $1.2 billion to bolster its finances. VinFast Vietnam, a unit of Nasdaq-listed VinFast Auto, signed agreements to acquire 100% of Ngoc Hoi Real Estate Investment. Ngoc Hoi holds a 20% economic interest in the investor consortium behind the Hanoi International Sports Urban Area, a $35 billion mega-project also known as Vinhomes Global Sportia Hanoi.
Vinhomes, the property development arm of VinFast parent Vingroup, will lead the project. VinFast stated that entering the project early will allow it to capture substantial value and provide additional, sustainable revenue and cash flow to support its EV strategy. The company also aims to integrate electric transport into the urban development from the outset.
Separately, on Tuesday, September 15, 2026, Italy’s state-owned export credit agency SACE announced a $200 million financing facility for VinFast Vietnam for general corporate purposes, including investments and research and development.
The Hanoi International Sports Urban Area project spans nearly 9,200 hectares and includes infrastructure, residential, commercial, entertainment facilities, and a large sports complex. The development features the VinFast-Trong Dong Stadium, which the company claims is the world's largest with a seating capacity of 135,000.