VEGA CITY JOINT STOCK COMPANY

VEGA CITY JOINT STOCK COMPANY is a private joint stock company operating in Vietnam’s high-end tourism and resort real estate segment, under the Vietnamese name CÔNG TY CỔ PHẦN VEGA CITY. The company was established in December 2011, has maintained operations for over 14 years, and remains active. Its tax code (Business ID/TIN) is 4201401023, and its head office is located in Bai Tien Area, Duong De Hamlet, Vinh Hoa Ward, Nha Trang City, Khanh Hoa Province, Vietnam, a prime coastal location closely associated with large-scale resort developments.

VEGA CITY JOINT STOCK COMPANY is the project owner and developer of the integrated resort complex “Vega City Nha Trang”, positioning itself at the intersection of hospitality, leisure, and destination real estate. Its registered business activities cover short-term accommodation, coastal and inland passenger transport, restaurants and food services, event and convention organization, and selected auxiliary financial service activities. This structure reflects a long-term strategy centered on creating a multi-functional tourism ecosystem rather than a single hotel operation.

Financially, the company recorded a breakout year in 2023, marking the transition from the development phase to revenue generation. Total assets reached approximately USD 373.6 million, while net sales surged to USD 87.8 million, compared with minimal revenue in prior years. Profit after tax rose sharply to USD 5.48 million, and owner’s equity strengthened to USD 81.1 million, indicating improving capital efficiency as core assets became operational. Despite a decline in working capital, the overall balance sheet remains asset-heavy, consistent with large-scale resort investments.

In terms of governance, the company is led by Chairman Kieu H. D., with Deputy Chairman Do T. A. supporting strategic and operational oversight. VEGA CITY maintains a relatively lean workforce of around 100 employees, relying heavily on project-based partners and service operators typical of integrated resort models. Overall, VEGA CITY JOINT STOCK COMPANY represents a capital-intensive but increasingly cash-generative tourism developer, making it a relevant subject for investors, lenders, and counterparties assessing exposure to Vietnam’s premium coastal resort market.