Signing of Billion Dollar Project Implementation, DBFS Reaffirms Its Pioneering Position

On September 20 in Ho Chi Minh City, TC Tower and DBFS officially signed a cooperation agreement to launch Phase 1 of a premium commercial housing project in Tan Phu District. According to the agreement, DBFS will be responsible for conducting research, preparation, and implementing the legal procedures for the project. Once TC Tower completes the process of obtaining approval from the parent company TCM’s General Assembly of Shareholders, the two parties will continue to sign contracts related to construction and product distribution.

The signing ceremony was attended by senior leaders of both sides. From left to right: Mr. Thomas - CSO of Eland Southeast Asia, ISD Director of TCM; Ms. Nguyễn Minh Hảo - CFO of Eland Southeast Asia; Mr. Trần Như Tùng - Chairman of the Members’ Council of TC Tower; Mr. Lê Hào - CEO of DBFS; Mr. Đỗ Thái Danh - QS & Investment Director; Mr. Phạm Viết Khai - Project Executive Director.

The project is located in Tan Phu District, on a central axis with convenient connectivity to key infrastructure such as Metro Line No.2 (Bến Thành - Tham Lương) and the Tham Lương - Bến Cát - Nước Lên Canal renovation project. The area is also surrounded by major amenities including Aeon Mall, Tan Son Nhat International Airport, as well as a diverse system of education, healthcare, and entertainment facilities, which will enhance the project’s long-term value.

Mr. Lê Hào - CEO of DBFS, shared: “The year 2024 marks the recovery of the real estate market as the legal framework becomes clearer and customer confidence gradually returns. This is the right time to kick off strategic projects.”

Echoing this view, Mr. Trần Như Tùng - Chairman of TCM and Chairman of the Members’ Council of TC Tower - emphasized that Tan Phu District currently lacks well-planned projects, and with TC Tower’s land bank combined with DBFS’s comprehensive development expertise, the project is set to become a new landmark, delivering quality housing supply to the market.

DBFS, formerly known as Dat Xanh E&C, was founded in 2021 with the model of a “comprehensive project developer”, offering end-to-end solutions from market research, product design, marketing, sales, customer service to construction and handover. With this model, landowners can successfully develop projects without requiring a full in-house development team.

Having separated from Dat Xanh Group, DBFS is now part of the Victory Group ecosystem, which brings together robust capabilities in finance, project development, general contracting, and real estate leasing in Ho Chi Minh City. Leveraging this ecosystem, DBFS aims to establish itself as a reputable real estate developer brand. This year, DBFS plans to sign six additional medium and large scale projects in Ho Chi Minh City, Binh Duong, Binh Phuoc, Binh Thuan, Can Tho, and Nghe An. One of its flagship projects is Cara River Park in Can Tho - a luxury condominium development that is shaping the new urban landscape of the Mekong Delta.

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