VinFast Unit to Acquire Ngoc Hoi Real Estate for $1.20 Billion

MT newswire2026/09/16 11:34

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07:34 AM EDT, 09/16/2026 (MT Newswires) -- VinFast Auto (VFS) said Wednesday that its unit, VinFast Vietnam, has signed agreements to acquire 100% of Ngoc Hoi Real Estate Investment Joint Stock Company for 30.9 trillion Vietnamese dong ($1.20 billion.) Ngoc Hoi holds a 20% economic interest in a consortium developing the Hanoi International Sports Urban Area Project, led by Vinhomes, VinFast said. VinFast said the acquisition is intended to strengthen its financial position and generate additional earnings and cash flows from real estate development. The transaction is expected to close in Q3, the company said. Separately, founder Pham Nhat Vuong will contribute up to $396.7 million to VinFast Vietnam, the company said.

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