Vinpearl (VPL) Receives Approval to Sell 2,400+ Units at VND 44 Trillion Làng Vân Project

Overview

Da Nang’s Department of Construction has granted Vinpearl (VPL) approval to sell over 2,400 future residential units at its Làng Vân eco-tourism and urban resort complex, a project with a total investment value of nearly VND 44 trillion. This regulatory milestone allows VPL, the project’s investor, to begin marketing a significant portion of the development’s housing inventory. The approval is a crucial step for monetizing one of Vinpearl’s largest ongoing projects in central Vietnam.

Key Facts

• Da Nang’s Department of Construction issued the sales approval on April 13.
• A total of 2,437 future residential units at the Làng Vân project are approved for sale.
• The total project investment is nearly VND 44 trillion (approximately USD 1.8 billion).
• The project covers a land area of 506.9 hectares in Hải Vân ward, Da Nang.
• Construction officially commenced in June 2025.
• The development plan spans five years from the approval of the investment policy adjustment.
• The project is a mixed-use complex combining commercial services, eco-tourism, and low-density residential areas.

What Happened

On April 13, Da Nang’s Department of Construction issued an official opinion confirming that 2,437 future residential units at the Làng Vân project meet the conditions for business introduction under Article 24 of the 2023 Real Estate Business Law. According to the department’s statement, the approval followed a review of documents and input from relevant agencies. The department emphasized that the investor, Vinpearl, bears full responsibility for the completeness, accuracy, and honesty of project information and must ensure all real estate products meet full legal conditions before sales commence.

The Làng Vân project, an eco-tourism and urban resort complex, officially broke ground in June 2025 with a total investment of nearly VND 44 trillion. The development plan outlines a five-year timeline from the approval of the investment policy adjustment. The first phase (years one to two) focuses on completing preparatory procedures, while the subsequent phase (years two to five) involves construction, handover, and operational launch.

Market Context

Vinpearl (VPL) is listed on the Ho Chi Minh City Stock Exchange (HOSE). The stock closed unchanged at VND 80 on April 14 with a volume of 302,700 shares. This regulatory approval provides a tangible catalyst for VPL, which operates in the tourism and entertainment sector. The news comes as Vietnam’s real estate and tourism markets show signs of recovery, with major integrated resort developments in coastal cities like Da Nang being closely watched for execution and sales traction.

Strategic Significance

The approval to sell future units at Làng Vân represents a critical inflection point for Vinpearl’s capital recycling and project financing strategy. By unlocking pre-sales for a VND 44 trillion project, VPL can generate upfront cash flow to fund construction, reducing reliance on external debt. The project’s scale and mixed-use nature—combining tourism, commercial, and residential components—aligns with Vinpearl’s strategy to develop large-scale, integrated destinations that capture multiple revenue streams and enhance destination stickiness in a competitive coastal tourism market.

What to Watch

• Initial sales velocity and pricing achieved for the approved 2,437 units.
• Subsequent construction milestones and progress reports against the five-year timeline.
• Updates on the broader project financing plan and any potential capital raises.
• Quarterly financial results from VPL to gauge revenue recognition from Làng Vân pre-sales.
• Further regulatory approvals for other phases or components of the Làng Vân complex.