S&I Rating’s report indicates a surge in real estate supply in the 2026-2027 period due to new infrastructure projects and the emergence of satellite cities larger than 500 hectares. Currently, 27 billion-dollar projects have entered the market, covering an area of 40,826 hectares and totaling an investment of 3,062,311 billion dong. Vingroup and Sun Group lead the way with numerous large-scale projects. Notably, Vingroup holds the Olympic Sports Complex in Hanoi (9,171 hectares, 925,000 billion dong), Hạ Long Xanh in Quảng Ninh (4,119 hectares, 456,639 billion dong), and Cần Giờ (2,870 hectares, 217,000 billion dong). Sun Group is also competitive with the Bà Nà – Suối Mơ resort urban complex (52,000 billion dong) and Đà Nẵng Downtown (nearly 80,000 billion dong). The high capital demand from these projects is expected to create a natural selection process among investors, impacting firms with high leverage.
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