VinFast Acquires Real Estate Stake to Diversify Revenue

VinFast Vietnam, a unit of Nasdaq-listed VinFast Auto, acquired 100 percent of Ngoc Hoi Real Estate Investment to diversify its revenue streams. This acquisition provides the company with a 20 percent economic interest in the Hanoi International Sports Urban Area, a US$35-billion mega-project also known as Vinhomes Global Sportia Hanoi.

Led by Vinhomes, the 9,200-hectare development includes residential, commercial, and entertainment facilities, including the VinFast-Trong Dong Stadium. VinFast plans to integrate electric transport into the urban planning of the project to create sustainable cash flow for its core automotive operations.

The move occurs alongside a broader shift toward an asset-light business model and the appointment of Pham Nhat Quan Anh as global chief executive. To further support its research and development and general corporate purposes, VinFast recently secured a US$200 million financing facility from Italy's state-owned export credit agency, SACE.