The company disclosed the proposed adjustment last Friday. Vinhomes represents the investor consortium, which also includes Ngoc Hoi Real Estate Investment JSC, Ngoc Quy Investment and Trading Development LLC, and Future Investment Research and Development JSC.

Under a board resolution, the project’s estimated investment capital will rise from VND925.65 trillion to over VND1,225 trillion ($47.85 billion). The final investment figure will be determined by the competent state authorities, Vinhomes said.

The consortium’s capital structure will remain unchanged. Investors will contribute at least 15% of the total investment, with Vinhomes accounting for 35% of the consortium’s equity contribution. The remaining 85% will be raised from other sources.

The proposed increase comes as the project moves forward with its fundraising plans. Hanoi’s Department of Construction said in an October 23 notice that the investor consortium was eligible to raise VND237 trillion ($9.26 billion) for residential construction.

As of October 7, the developer had issued VND37 trillion ($1.45 billion) worth of bonds, including VND11 trillion ($429.61 million) earmarked for the housing component, according to the department.

In addition to the residential funding, the consortium plans to raise another VND138 trillion ($5.39 billion) for non-residential real estate developments. The capital will be mobilized through contributions, investment and business cooperation, partnerships, and joint ventures with organizations and individuals.

Partners will be entitled to profit-sharing, while the fundraising period will run in line with the project’s implementation schedule, through Q4/2030.

The Hanoi international sports urban area, formerly known as the Olympic sports urban area, spans nearly 9,000 hectares across 11 communes on the capital’s southern outskirts. It is divided into four sub-zones.

Zone A covers approximately 1,858 hectares and is planned as a transit-oriented development (TOD). Zone B, the largest section at around 3,000 hectares, will be centered on the VinFast-Trong Dong Stadium, planned as one of the world’s largest stadiums, alongside other sports competition facilities.

Upon completion, the project is expected to provide the infrastructure needed to host major continental and international sporting events, including the Asian Games and the Olympic Games.