The company said its board has approved participation in the project, Cam Lam new urban area, with a 35% capital contribution.

The development will be implemented by a consortium led by Vinhomes, alongside Phat Dat Real Estate Development Corporation (HoSE: PDR), Truong Loc Real Estate Investment and Development, Green Urban Construction and Trading, and Phu Tho Land.

Last June, provincial authorities approved Vinhomes to lead the consortium for the project development.

Spanning more than 10,350 hectares, the Cam Lam project covers large parts of Cam Lam commune and sections of Cam Ranh town, including Cam Duc town and multiple surrounding communes.

It is designed as a large integrated urban complex with more than 58,000 villas and townhouses, nearly 9,800 apartments, about 33,000 social housing units, and roughly 58,500 residential land plots. It will feature a 36-hole golf course and supporting commercial, public, and social infrastructure.

The development is expected to accommodate around 584,000 people. Construction is scheduled to run from 2025 to 2037, with an operating term of 50 years from the date of land allocation or lease approval.

The project comes as Vinhomes continues to post strong financial results despite persistent headwinds in Vietnam’s property market.

In 2025, the developer reported consolidated net revenue of VND154.1 trillion ($5.93 billion), while consolidated net profit climbed to a record VND42.11 trillion ($1.62 billion), up 30% and 20% year-on-year, respectively.

The strong performance was driven mainly by on-schedule and ahead-of-plan handovers at its large-scale developments.