M&As in real estate on a strong footing

Figures from the Vietnam Association of Realtors stated that Vietnam's real estate M&A market recorded strong growth in 2025, marking a positive shift after a prolonged downturn, with cumulative transaction value reaching approximately $2.5 billion.

- By Bich Ngoc

The real estate and hospitality sector continues to lead merger and acquisition activity, with seven recorded deals and a total disclosed value of over $446 million so far this year.

According to the Monthly Deal Digest released on March 11 by Grant Thornton Vietnam and Capital IQ, the real estate and hospitality sectors accounted for 26 per cent of the total merger and acquisition (M&A) numbers, and 81 per cent of total value of all sectors.

Most transactions in the sector revolved around corporate restructuring and the transfer of component projects.

Among those are in residential development, the only deal related to foreign investor was the Diamond Realty Investment La Pura (Mitsubishi Group, Japan) in February acquired the entire stake in Thien Long High-Rise Real Estate Investment and Development, the developer of the Thuan An 1 project in Binh Duong with the initial payment value of approximately $73 million.

The rest of the deals belong to domestic investors. Everland An Giang in January acquired Sub-zone 7.1 of the Dai Phuoc Ecotourism Urban Area from DIC Corp for more than $18.8 million. Within the same venture, TNT Phu Hoa purchased sub-zones 1-3 in a deal valued at over $94.8 million.

Meanwhile, also in January, First Real approved a resolution to fully divest from Bach Dang Trading Services Hotel through the transfer of 10 million shares, equivalent to 22.22 per cent of its charter capital.

With an expected minimum transfer value of $11.5 million, First Real will exit the Bach Dang Complex, a luxury real estate complex located on a nearly 6,900sq.m site along the Han River in Danang city.

In the hotel sector, ASB HPL North Asia of Singapore spent $38 million to acquire the entire Hotel Perle D'Orient Cat Ba project from Truong Binh Minh.