Phu My Hung Development Co., Ltd. reported an after-tax profit of approximately 2,945 billion VND for 2025, marking a 41% increase from the previous year. This figure represents the company's highest profit in the past three years, translating to an average daily profit of over 8 billion VND.

Although the company did not provide a specific explanation for the profit fluctuation, this growth coincides with the launch of several major real estate projects. In Northern Vietnam, Phu My Hung introduced Hong Hac City, its first urban area project in the region, spanning over 197 hectares with a total investment of nearly one billion USD. Concurrently, in its key hub of Southern Ho Chi Minh City, the company launched The Sculptura apartment project and introduced The Regency project.

This significant growth in 2025 boosted cumulative profit to over 15,075 billion VND, an increase of approximately 40% compared to the end of the previous year. Consequently, equity also grew by nearly 54%, reaching approximately 18,554 billion VND.

By the end of last year, Phu My Hung's total liabilities stood at approximately 20,864 billion VND, a slight increase from the same period. Within its financial borrowings, bank loans surged by nearly 77% to 7,112 billion VND. However, debt from bond issuance decreased by over 31% to 5,472 billion VND.

Phu My Hung issued six bond lots between 2019 and 2021, with five lots currently outstanding, maturing sequentially from this year to 2027. Three of these lots, totaling 2,000 billion VND, were domestically offered with interest rates ranging from 7.15-8.8% per year. The remaining funds, 225 million USD, were raised in foreign currency with issuance interest rates of 2-2.58% per year.

Visitors viewing the model of Hong Hac City project. Photo: Tung Dinh

Established in 5/1993, Phu My Hung Development Co., Ltd. is a joint venture between Tan Thuan Industrial Promotion Company Limited (IPC) and Phu My Hung Asia Holdings (formerly CT&D Group, Taiwan). Tan Thuan IPC contributes 30% of the capital, with the remainder being foreign capital.

The company gained renown as the developer of the Phu My Hung Urban Area in Southern Ho Chi Minh City, a prominent project that transformed a swampy area into a bustling urban center. Its vision was to create a multi-functional urban area, serving as a hub for finance, commerce, services, industry, science, culture, education, residency, and entertainment, thereby driving the development of the city's southern and southeastern regions. In 2008, the Ministry of Construction and the Ho Chi Minh City People's Committee recognized it as a "model urban area" of Vietnam.

The developer also constructed the 10-lane Nguyen Van Linh Boulevard, which became a vital transportation artery for the city's southern area. Along this boulevard, Phu My Hung was tasked with developing five urban clusters covering a total area of 774 hectares. Today, the urban area is famous for Ban Nguyet Lake, Crescent Mall, and numerous delivered residential projects, including Garden Plaza, Riverpark Residence, The Panorama, and The Peak Midtown.

This year, Phu My Hung plans to launch more units at The Regency and Hong Hac City. The company is also expanding its operations to Thu Dau Mot, in the former Binh Duong province, with the Harmonie project, targeting young customers.

Tat Dat