Press Review: Viglacera CEO – Will study developing reasonably priced commercial housing
In addition to social housing, Viglacera’s General Director Nguyen Anh Tuan said the enterprise wants to develop reasonably priced commercial housing, targeting the real demand of the market.
On April 25, Viglacera Corporation (VGC) held its annual meeting with more than 35 shareholders attending, representing over 89% of voting shares.
In the context of volatility and high interest rates, many shareholders questioned the priority investment orientation for the two core segments: residential real estate and industrial parks. “Interest rates continue to rise, which projects will Viglacera prioritize for investment?”, a shareholder asked.
Responding, Mr. Nguyen Anh Tuan, General Director of Viglacera, acknowledged that the real estate market this year is experiencing unusual and rapidly changing developments, but the enterprise continues to focus on segments serving real housing demand.
“Build houses at reasonable prices so that people will actually buy”, he said, adding that last year, Viglacera’s social housing business segment exceeded the plan by 37%, “whatever was put on the market was sold out, even in provinces”.
By the end of 2025, Viglacera had completed 8,000 social housing and worker housing units. This year, the company plans to commence the Tien Duong social housing project (construction phase), a mixed-use housing area at Dang Xa 2 Urban Area and a new sub-zone at Dong Van IV worker housing area.
In addition to social housing, Mr. Tuan said Viglacera will study developing reasonably priced commercial housing. This segment is being designed with a more open mechanism compared to social housing. Accordingly, buyers will be expanded to the middle-income group, without strict limitations on housing conditions and income as in social housing.
“Market demand is like a pyramid, in which the lower-middle income group accounts for 70–80% of the market share. Viglacera will target segments suitable for this group”, Mr. Tuan said.
Besides housing, industrial park real estate continues to be identified by Viglacera as a growth pillar. This year, the company plans to lease about 125 hectares of industrial land, of which 22 hectares were already ordered by customers in the first quarter alone. Many industrial park projects will be implemented soon, including Tay Pho Yen (500 ha), Phu Ninh phase 1 (150 ha), Hung Yen Industrial Park No.1 (217 ha)…
Regarding the plan to divest State capital at Viglacera, a shareholder asked when this roadmap would be completed. Currently, the State ownership ratio at Viglacera remains at 38%.
Deputy Minister of Construction Nguyen Van Sinh said the Ministry will choose an appropriate time to complete the divestment after handling issues related to valuation. The Ministry has reported to the Prime Minister and proposed completing the divestment roadmap in the period 2026–2030.
This year, Viglacera sets a record-high consolidated revenue target of VND 15,300 billion, up 15% compared to 2025. Consolidated profit before tax is expected to decrease by 17% to VND 1,820 billion. The expected dividend payout ratio is 10% in cash.
