Trump Organization expands global footprint with $1.5 billion project in Vietnam

The Trump Organization is making a bold foray into Vietnam's real estate market with the recent approval of a US$1.5 billion urban complex project in Hưng Yên Province, signaling a significant expansion of its international portfolio.

The approval comes amid growing interest from the US conglomerate to deepen its ties with the Vietnamese market, as the company looks to capitalize on emerging opportunities in the region, Caliber.Az reports via Vietnamese media.

This week, the organization will hold two crucial meetings with Ho Chi Minh City (HCM City) leadership to further discuss its investment plans. On May 19, Charles James Boyd Bowman, Director of the Trump International Hưng Yên project, is scheduled to meet with Vice Chairman Võ Văn Hoan of the HCM City People’s Committee, marking a pivotal step in the organization’s ongoing efforts to engage local authorities and explore future ventures in the country.

A second session, set for May 22, will see Eric Trump, Executive Vice President of the Trump Organization and the son of US President Donald Trump, meet with city officials to discuss plans for the proposed Trump Tower in Thủ Thiêm, a prominent urban development area in HCM City. The discussions are expected to focus on the selection of potential locations for the tower, as well as the finer details of the project.

This new initiative follows the Trump Organization’s successful proposal for an expansive mixed-use development project in Hưng Yên, which spans over 990 hectares and is designed to host nearly 30,000 residents. The project will feature luxury residential areas, eco-friendly golf courses, and high-end hospitality facilities, positioning it as a premium destination within the region.

The Hưng Yên project, with a total estimated investment of around VNĐ39.8 trillion (approximately $1.53 billion), is slated to include expenses related to compensation and resettlement. The development is scheduled to break ground in the second quarter of 2025, with a projected completion date set for 2029.

This strategic move into Vietnam’s real estate market reflects the Trump Organization’s growing interest in global expansion, especially in rapidly developing economies like Vietnam, where demand for upscale residential and commercial properties continues to rise. The planned urban complex in Hưng Yên and the potential Trump Tower in HCM City are expected to strengthen the organization’s presence in Southeast Asia, tapping into the region’s burgeoning real estate sector.

By Vafa Guliyeva