TRUONG SON LAND CORPORATION

TRUONG SON LAND CORPORATION (CÔNG TY CỔ PHẦN BẤT ĐỘNG SẢN TRƯỜNG SƠN) is one of Vietnam’s long-standing real estate developers with a solid track record in property investment and residential projects. Officially established on January 14, 2008, under Business ID 0305747212, the company is headquartered at 152/1A Nguyen Van Thuong Street, Ward 25, Binh Thanh District, Ho Chi Minh City, and employs approximately 270 staff members.

A Dynamic Force in Real Estate Development

TRUONG SON LAND specializes in real estate investment, trading, and project development, particularly residential and mixed-use properties. Over more than seventeen years of operation, the company has become part of the Him Lam ecosystem, one of Vietnam’s most reputable private real estate groups. Its operations also extend into related fields such as construction, architecture, engineering services, electric power generation, and utilities management, providing an integrated approach to urban development.

Leadership and Ownership

The company is chaired by Mr. Tran V. T., who provides strategic oversight. At the same time, Mr. Nguyen N. T. serves as General Director and Ms. Nguyen T. T. D. as Deputy General Director. This leadership team combines technical experience in real estate management with a strong understanding of Vietnam’s regulatory and financial environment.

Although Him Lam Corporation once held a controlling stake of 94.57 percent, the current shareholder structure has shifted to three individual shareholders, whose detailed ownership information remains confidential. The company operates privately, ensuring agile investment and project development decisions.

Financial Overview and Market Position

TRUONG SON LAND has demonstrated significant financial strength, supported by one of the largest capital bases among private real estate developers. As of December 31, 2023, the company reported total assets of USD 583.22 million and equity of USD 136.72 million, marking a 55.17 percent year-on-year increase in equity despite an overall decline in total assets. Sales reached USD 102.74 million, and profit stood at USD 48.59 million, representing a 50.3 percent decrease from the previous year.

While revenue and profit contracted in 2023 due to market corrections in Vietnam’s property sector, the company’s working capital surged by more than 200 percent to USD 371.27 million, showing robust liquidity and strong internal cash flow management. This liquidity provides the flexibility to continue project financing and sustain large-scale property investments even under tighter credit conditions.

Building Urban Landscapes with Vision

TRUONG SON LAND’s business activities reflect its ambition to shape sustainable, high-quality living environments. The company’s portfolio includes residential developments, commercial complexes, hospitality projects, and infrastructure services such as water treatment, waste management, and gas distribution. This diversification reduces dependence on any single revenue stream and reinforces its reputation as a full-service real estate and infrastructure provider.

Outlook and Strategic Direction

Despite the temporary slowdown in profit, TRUONG SON LAND remains well-positioned to capitalize on Vietnam’s long-term housing and urbanization trends. Its healthy capital structure, liquidity, and close ties to the Him Lam Group provide a strong competitive foundation for growth.

The company is expected to continue investing in integrated urban projects, expand its regional footprint beyond Ho Chi Minh City, and strengthen cooperation with financial and construction partners. These strategies will enable TRUONG SON LAND to remain a trusted developer contributing to Vietnam’s sustainable urban transformation.