In recent years, the real estate market in the North of Vietnam has recorded remarkable growth thanks to improvements in infrastructure, investment attraction policies, and large-scale projects. One of the most important milestones is the $1.5 billion golf resort project of the Trump Organization in Hung Yen. This article analyzes the overall picture of the real estate market in the North, key investment projects, socio-economic impacts as well as future forecasts for this area.

Northern Real Estate Is Changing

The real estate market in Northern Vietnam is undergoing a period of clear transformation, with strong growth in both the scale and quality of investment projects. This development is driven by many combined factors, including significantly improved transport infrastructure, open investment policies, and the interest of domestic and foreign investors.

1. Satellite urban areas and smart cities boom

The North is witnessing the strong development of satellite urban areas and smart cities, especially in Hung Yen, Hai Duong, and Vinh Phuc. A typical example is the Ecopark Hung Yen project, developed according to the smart ecological urban model, legalizing automatic lighting technology, smart waste management, and green living space. This project was honored as the  “Best Sustainable Housing Project in Asia” in 2022[1].

In addition, Hung Yen is also implementing the Trump International Hung Yen project with a total investment of nearly 40,000 billion VND (more than 1.5 billion USD), expected to become a symbol of sustainable and high-class development, connecting the Red River tourism corridor[2].

2. Strong growth in logistics and warehousing real estate

The boom in e-commerce has boosted demand for logistics real estate in the North, especially in areas near seaports and airports such as Hai Phong, Bac Ninh, and Hanoi. According to Savills, by the end of 2023, the total available factory and warehouse area nationwide will reach 15.1 million m², up 31% year-on-year, with an average occupancy rate of 80%[3].

Notably, foreign investors currently account for more than 75% of the market share of modern logistics real estate in Vietnam, demonstrating the great attraction of this sector to FDI capital[4].

3. Strong development of coastal resort real estate

Northern coastal provinces such as Quang Ninh and Hai Phong are becoming attractive destinations for resort real estate investors. In Quang Ninh, projects such as Sun Premier Village Ha Long and Vinhomes Dragon Bay are attracting great attention thanks to their prime locations and high-end amenities[5].

In Hai Phong, the Dragon Hill International Resort project in Do Son with a total investment of more than VND30,000 billion (US$1.2 billion) is being implemented, expected to promote tourism development and the local economy[6].

To illustrate the growing appeal of northern Vietnam’s real estate market, particularly in large-scale developments, the table below highlights some of the most notable FDI-funded projects in recent years. These projects reflect a clear trend in both urban and industrial real estate investment across key provinces.

Trump Organization to develop real estate in Hung Yen

One of the most notable recent developments in Northern Vietnam is the Trump International Hung Yen project. This is the Trump Organization’s first large-scale project in Vietnam, marking a significant milestone in the country’s integration into the global luxury real estate market. Located in Khoai Chau District, Hung Yen Province, the project covers nearly 990 hectares and has a registered investment capital of approximately USD 1.5 billion.

Son of the US President – Eric Trump, Executive Vice President of The Trump Organization in Hung Yen on the afternoon of May 21

Source: Vnexpress.net

Developed by the Trump Organization in partnership with Hung Yen Company – a member of Kinh Bac Urban Development Corporation (KBC), the project was officially approved in early 2024 and commenced site clearance and early infrastructure work in Q2/2024. As of mid-2025, the project is in the infrastructure development phase, including ground leveling, initial road systems, and utility planning. Construction of the first phase — including the golf course and part of the resort villas — is expected to begin in late 2025. Full completion of the entire integrated urban complex is tentatively scheduled for 2030, with key facilities like the golf course and main resort area slated to open to the public by 2027. These communities integrate international schools, hospitals, commercial centers, green parks, and sports complexes, offering a holistic lifestyle for residents and a high standard of urban development.

Such projects are not only enhancing the quality of life in the region but also acting as catalysts for capital inflows, tourism, and sustainable economic growth — reaffirming Northern Vietnam’s position as a rising real estate hotspot in Southeast Asia.

Challenges and Opportunities

Northern Vietnam is experiencing mounting pressure across various real estate segments—including residential, industrial, and resort development—due to increasingly limited land funds and escalating land prices in key growth provinces such as Hung Yen, Bac Ninh, and Hai Phong. In addition, fierce competition between localities and legal risks due to policy changes are also factors that make investors consider carefully before implementing projects[7]. In addition, the issue of environmental protection and sustainable development is becoming increasingly urgent, requiring close coordination between investors and local authorities to ensure long-term development[8].

However, the North still possesses many great opportunities for real estate development as the government and provinces continuously improve the investment environment, simplify administrative procedures, and attract increasingly strong FDI capital. The increasing demand for housing and resorts, along with the trend of developing smart, green urban areas and the emergence of large-scale projects such as Trump International Hung Yen, will contribute to promoting sustainable development and enhancing the position of the Northern real estate market in the near future.

Conclusion

The Trump International Hung Yen project is not only a new symbol for the development of real estate in the North but also a testament to the attractiveness of the Vietnamese market to international investors. According to economic and real estate experts, with the Government’s commitment to continue promoting public investment in transport infrastructure, including new highway projects, overpasses, and urban transport network development, the North will maintain sustainable growth momentum in the real estate sector for many years to come. This not only contributes to improving people’s lives but also consolidates the position of the North on the national and regional economic map.

[1] https://ecoparker.com/tin-tuc-ecopark/ecopark-giai-thuong-2022

[2] https://vietnamnet.vn/en/trump-int-l-hung-yen-hoped-to-foster-local-rapid-sustainable-development-pm-2403628.html

[3] https://en.vietnamplus.vn/real-estate-demand-for-e-commerce-and-logistics-rises-in-vietnam-post306448.vnp

[4] https://www.vietnam-briefing.com/news/vietnams-warehouse-market-foreign-investment-outlook.html/

[5] https://mp-capital.sg/potential-real-estate-areas-in-the-northern-provinces-of-vietnam-investment-destinations-not-to-be-missed/

[6] https://vir.com.vn/vietnams-resort-real-estate-sector-struggles-to-rebound-114433.html

[7] https://cafef.vn/vi-sao-bat-dong-san-cong-nghiep-mien-bac-tro-thanh-thoi-nam-cham-hut-cac-ga-khong-lo-cong-nghe-my-han-ve-lam-to-18824121814434391.chn

[8] https://tuoitrethudo.vn/giai-phap-bao-ve-moi-truong-khu-cong-nghiep-khu-kinh-te-trong-diem-266307.html

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