The Trump International Hung Yen complex can sell a maximum of 250 low-rise units and 30% of total apartments to foreign buyers, according to local authorities.
Vietnam housing laws allow foreigners to buy a certain portion of residential projects, but each needs express approval.
The $1.5-billion project in Hung Yen Province, which includes two golf courses and several residential areas, is located 40 kilometers to the southeast of Hanoi. Construction began last year on an area of 888 hectares.
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Trump Tower, managed by The Trump Organization, in New York City, U.S., April 10, 2018. Photo by Reuters |
It is developed by the Hung Yen Investment and Development Corp owned by major real estate developer Kinh Bac City in partnership with The Trump Organization, a private company owned by U.S. President Donald Trump and run by his son Eric.
Hung Yen has been one of the fastest-growing real estate markets in recent years, particularly in the housing segment. It has seen many developments by major companies such as Vingroup, Masterise, MIK Group, Sunshine, and Xuan Cau.
One Housing, a property brokerage backed by Techcombank, estimates that the Van Giang area of Hung Yen alone could see more than 18,000 new apartments offered for sale in 2026.
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