The VMI Real Estate Management and Investment Joint Stock Company (now Hưng Long) officially changed its name on September 5, 2025. CEO Phan Thành Long remains in charge, with its headquarters in Hanoi. Founded in 2022 with a charter capital of VND 18 trillion, billionaire Phạm Nhật Vượng owns 90% of the shares. In 2023, Vinhomes transferred all investments in VMI to a partner. Vượng invested in VMI with 243 million VIC shares, valued at about VND 16.2 trillion at market price. Hưng Long is currently the third-largest shareholder of Vingroup, holding VIC shares worth nearly VND 44 trillion. VMI operates by investing in Vinhomes’ real estate, divided into multiple investments known as Fantasy Home. Customers invest through business cooperation contracts, receiving asset rights certificates and profits relative to their investment ratio. VMI is involved in projects such as Vinhomes Ocean Park 3- The Crown, Vinhomes Ocean Park, and Vinhomes Smart City.
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