According to Reuters, the Trump Organization has signed an agreement with a subsidiary of Kinh Bac Urban Development Corporation (KBC) to develop a 1.5 billion USD five-star hotel and international golf course complex in Hung Yen, scheduled to break ground in May 2025. The project includes three 18-hole golf courses and a residential complex, making it the largest Trump project in East Asia. The first two golf courses are expected to be operational by mid-2027. In trading on March 31, 2025, KBC shares rose 4%, reaching 31,100 VND/share, the highest since mid-2024. Kinh Bac expects revenues of 10 trillion VND and a post-tax profit of 3.2 trillion VND in 2025, significantly higher than 2024. However, KBC did not meet its revenue and profit plans in 2023 and 2024.
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