Vingroup, one of Vietnam's largest private enterprises, has embarked on a transformative project in Ho Chi Minh City, investing more than $2.2 billion into the International University Urban Area, also known as Vinhomes SaiGon Park. This project, spanning over 1,000 hectares, has been inactive for almost 20 years but is now set to be revitalized following Vingroup's acquisition of controlling interest in the project.

The urban area is strategically located at the northwestern gateway of Ho Chi Minh City, adjacent to major transportation routes including National Highway 22 and Ring Road 3. The project is designed to accommodate more than 135,000 residents, including around 60,000 students and faculty members, creating a modern educational and urban hub.

Construction activities have already begun, with rapid progress reported on various site preparations, including land leveling and internal road development. The site is bustling with machinery and construction vehicles, indicating a strong commitment to meet the ambitious timeline for completion.

Once operational, the International University Urban Area will feature residential areas, educational facilities, green spaces, and other amenities, promoting a sustainable living and learning environment. This initiative is expected to alleviate population pressure and traffic congestion in central Ho Chi Minh City, enhancing the overall quality of life for its future residents.

Vingroup's investment is seen as a significant step towards reviving long-stalled urban projects in Vietnam, reflecting the company's ongoing commitment to contributing to the nation's development and addressing housing needs for students and educators.