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8 of 11 delivered
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Vingroup (Vinhomes JSC) & Nomura Real Estate Development
8 of 11 sub-zones delivered · 3 upcoming 2027
Vietnam's only 877-hectare island city — 36-hole golf, VinWonders with safari, Vincom Mega Mall, Royal Marina, and 29.5-ha equestrian academy, all on one private island 5 minutes from Hải Phòng center.
Vietnam's first island city spanning 877 hectares on Vũ Yên Island, Hải Phòng. Co-developed by Vinhomes and Japan's Nomura Real Estate, with select zones designed by architect Kengo Kuma. Comprises 11 themed residential zones with 8,324 low-rise units at 22.5% construction density, leaving 60% green space. Anchored by a 36-hole Vinpearl Golf championship course, VinWonders theme park with safari, Vincom Mega Mall, and Royal Marina — on a private island connected to Hải Phòng center via Royal Bridge in 5 minutes.
Better for long-term living than for investing.
A low-density island township for affluent homeowners and long-hold investors who do not need a Hà Nội commute, with Vinschool, VinWonders, Vincom Mega Mall and a 36-hole golf course already operating. The trade-offs are thin everyday services and medical access outside the leisure core, partial pink-book coverage, and about 15,000 approved high-rise units next door that weigh on exit liquidity.
Homeowner: A good fit for affluent homeowners who want a self-contained, low-density island rather than a commute-driven address. Vinschool, VinWonders, Vincom Mega Mall and a 36-hole golf course are already operating, and pink books are being issued sub-zone by sub-zone. The trade-offs are 100 km to Hà Nội, thin everyday services and medical access outside the leisure core, and a premium price level of roughly 95M VND/m² with few local comparables.
Investor: The investment case rests on Vinhomes' sponsorship and Hải Phòng's industrial growth, not on yield. Rent evidence is thin and implies low-single-digit gross yields on 9-70B VND tickets, and about 15,000 high-rise units approved on adjacent land add a future supply tier. The opened Royal Bridge and the Thủy Nguyên second-CBD plan support demand, but exit liquidity at these ticket sizes is unproven.
| Market range | 80 triệu – 120 triệu/m² |
| Unit price | 7 tỷ – 70 tỷ |
| Rent | 20 triệu – 75 triệu/mo |
| Launch price | 85 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| Vinhomes Royal Island | 95 triệu/m² | — |
| Vinhomes Riverside (Hà Nội) | Established Hà Nội villa benchmark — compare current listings directly | Mature, commutable to the capital, versus a newer island township 100 km away |
| Ecopark (Hưng Yên) | Different price tier — verify current comps before relying on a gap | Large green township on the Hà Nội–Hải Phòng corridor, closer to Hà Nội, without an island or golf setting |
Typical pricing is about 95M VND/m² (villa asks roughly 80-120M VND/m²), but these are first snapshots with no prior comparison, so no price direction can be called yet.
| Developer | Vingroup (Vinhomes JSC) & Nomura Real Estate Development |
| Status | 8 of 11 delivered |
| Completion | 2027 |
| Total Units | 8324 |
| Launch Date | 2024-03 |
| Handover | 2024-11 |
| Construction Permit | Approved |
| Pink Book | Partial |
| Legal Notes | Full legal documents in place including land use rights, construction permit, and investment permit. Perpetual freehold ownership for Vietnamese nationals; pink books issued at handover. 8 of 11 sub-zones delivered with progressive pink-book issuance: Tài Lộc and Miyabi (Nov 2024), Đảo Vua (Jun 2025), Golf Land and Quý Tộc (Sep 2025), Komorebi (Oct 2025), Đảo Thiên Đường (Nov 2025), and Hoàng Gia (Q1 2026). Royal Riverside, Hoàng Thành, and Kinh Đô remain under construction with pink books pending. In March 2026, Vingroup won the auction for an additional 47.2 ha at Vũ Yên (4,841B VND) for a future 32-block apartment expansion (~15,000 units) under a separate 50-year residential land assignment. Cầu Vũ Yên 2 (third bridge) remains at city-requested feasibility study stage with no confirmed groundbreaking date or funding commitment as of June 2026. No adverse legal actions found. Oct 2026 refresh: searches on pink books, handover and Vũ Yên 2 bridge surfaced no newer sourced updates; per-zone status above is unchanged. |
Vinhomes Royal Island
| CBD (peak) | 17 min |
| CBD (off-peak) | 16 min |
| Airport (peak) | 35 min |
| Airport (off-peak) | 31 min |
Affluent Vietnamese families, golf enthusiasts, and a growing Korean and Japanese expat community drawn by Hải Phòng's industrial zones and the Nomura-designed sub-zones. Planned capacity is about 33,500 residents across 8,324 low-rise units.
