AsemconnectVietnam - Revenue from ongoing projects such as Vlasta - Thuy Nguyen (Hai Phong), Vlasta Premier - Phu Thuan (Ho Chi Minh City), and TT39-40 Van Phu urban area (Hanoi) helped Van Phu Real Estate Development Joint Stock Company (stock code: VPI) end the first six months of 2026 with revenue and after-tax profit of VND1,136.8 billion and VND197.18 billion respectively, an increase of 166% and 37% compared to the same period in 2025.

The fruits of choosing sustainable development
The process of spatial restructuring, infrastructure development in large urban areas, and efforts to increase market transparency by management sectors are gradually bringing the real estate market into a new development phase – a phase where the real value of the product becomes the decisive factor for investment capital. According to experts, the supply of products continues to improve thanks to many new policies and infrastructure investments in the first six months of 2026. Conversely, high mortgage interest rates have led to decreased liquidity, making buyers cautious and prioritizing projects with clear legal status that meet their actual housing needs.
This has resulted in a greater concentration of capital in projects with clear legal status, practical development potential, and secure financing options.
Given this situation, the management of Van Phu Real Estate Development Joint Stock Company (stock code: VPI) has chosen to focus resources on construction and legal completion at existing projects. Simultaneously, they are accelerating sales and product handover at three projects: Vlasta - Thuy Nguyen (Hai Phong), Vlasta Premier - Phu Thuan (Ho Chi Minh City), and TT39-40 Van Phu urban area (Hanoi) in the second quarter of 2026, recording significant revenue. In particular, the Vlasta Premier - Phu Thuan project, located near the Nguyen Van Linh, Dao Tri, and Phu My Bridge transportation arteries, connecting to the Phu My Hung urban area, the center of Ho Chi Minh City, and Thu Thiem, has attracted significant interest from both homebuyers and investors. In the first sales phase, 70% of the apartments were successfully sold.
In addition, Van Phu continues to generate revenue from previously launched projects and its accommodation services segment, creating a stable cash flow to maintain regular operations. Among these, the Auko Eco-Wellness Lodges resort project in Quang Tri (formerly Quang Binh) – a product embodying a 'humanistic' philosophy, emphasizing harmony with nature, minimizing environmental impact, and enhancing personal experiences – has attracted a considerable number of guests shortly after its launch.
These factors helped Van Phu end Q2/2026 with consolidated revenue of VND849.4 billion, a 371% increase compared to the same period last year.
The impressive revenue growth in Q2/2026 also helped the company's cumulative profit for the first six months of 2026 increase by 166% compared to the same period last year, equivalent to VND1,136.8 billion.
After deducting the cost of goods sold and other expenses, Van Phu reported after-tax profits for Q2 and the first six months of 2026 at VND170.67 billion and VND197.18 billion respectively, an increase of 2,466% and 37% respectively compared to the same period last year.
Bringing the "human-centered" real estate philosophy into real estate projects
In the last six months of 2026, the real estate market is expected to continue to maintain a strong and more selective state. Dat Xanh Services – FERI forecasts that the new supply is expected to add approximately 33,000 units, bringing the total primary supply to over 100,000 units.
However, demand is projected to remain primarily focused on buyers purchasing for residential purposes and medium- to long-term investment. Therefore, projects with complete legal documentation, integrated infrastructure, suitable product quality, and developed by capable investors will have an advantage.
From a business perspective, a representative from Van Phu also noted that market demand is gradually shifting from developing small-scale projects to creating large-scale mega-projects and super-cities, connected to integrated infrastructure, public transportation, and modern living spaces.
Accordingly, housing not only meets the need for "settling down and establishing a career," but also aims to create comprehensive living values for customers. Therefore, every project developed by Van Phu is based on the philosophy of "human-centered living," meaning putting people at the center.
In Van Phu's projects, urban spaces are designed to encourage interaction, with shared amenities, community activities, architecture linked to art and culture, and integrated technological solutions to support residents' health.
Initially, the company will focus its resources on accelerating construction progress, completing legal procedures, and boosting sales at eligible projects such as Vlasta Premier – Phu Thuan (Ho Chi Minh City), Vlasta Premier – Phu Hoi (Hue), Vlasta – Thuy Nguyen (Hai Phong), etc.
In addition, optimizing operating cash flow through improved management and business operations at the Oakwood Residence Hanoi, Lasong Hotel & Villas Sam Son, Grandeur Palace - Giang Vo, and Auko Eco-Wellness Lodges (formerly Quang Binh) projects is also a top priority for the management.
In fact, the company's leadership's directions and aspirations are partly reflected in the fact that the value of long-term inventory and work-in-progress assets as of June 30, 2026, is 25.83% and 8.03% higher than at the beginning of the year, respectively, at VND6,600.3 billion and VND 3,128.5 billion.
In particular, the value of inventory has increased sharply because the company is focusing its resources on increasing land reserves for the development of several projects, including: Nha Be, Binh Chanh, and Vung Tau (Ho Chi Minh City); Dai Phuoc Tourist Urban Area (Dong Nai)... The common point of these projects is that they are all located in central locations in provinces and cities that have seen many positive socio-economic changes in recent years. Therefore, representatives of Van Phu are completely confident that the company has sufficient land reserves to develop new products, thereby creating a source of revenue for the next 3 years.
Besides the projects currently underway, the BT project for the section from Pham Van Dong Street to the Go Dua - National Highway 1 intersection (Thu Duc Ward), connecting Ring Road 2 with Ho Chi Minh City's infrastructure, is being gradually resolved. By the end of June 2026, the company had received 2 out of 5 reciprocal land plots in the center of Ho Chi Minh City to implement investment, construction, and business to recover capital. This also represents a significant additional source of income for businesses amidst continuously rising land prices.
Source: VITIC/Bao Tai chinh – Dau tu