Vietnam’s International Financial Centre in HCMC: The 898-Hectare Boundary and What It Means for Thu Thiem Property
On 17 August 2026, the operating agency of the Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC), together with its counterpart in Da Nang, opened an online membership registration and recognition system for 2026–2027. Roughly six months after the centre launched on 11 February 2026, it reports about US$20 billion in committed capital. For anyone buying property nearby, the useful questions are not about which tower will be tallest. They are: where does the 898-hectare boundary actually run, who is allowed in so far, and where will the people working there live.
VIFC-HCMC 2026
Table of Contents
What the Financial Centre Actually Is
The Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) is a geographically defined zone in which registered member organisations operate under a dedicated framework for international finance rather than the general one. It launched on 11 February 2026.
Three numbers to hold onto: the boundary covers roughly 898 hectares, the core zone is 9.2 hectares in Thu Thiem, and about US$20 billion in committed capital has been recorded in the first six months. In the Global Financial Centres Index 39 (2026), Ho Chi Minh City ranked 84th of 120 centres, up 11 places and third in Southeast Asia.
The detail most coverage skips: this is not a building. It is a policy zone spread across several wards, and Thu Thiem holds the core. That single fact determines how the property impact should be read further down.
Where the 898-Hectare Boundary Runs
The boundary spans three areas, per the operating agency’s published scope:
| Area | Role in the centre | Property read |
|---|---|---|
| Thu Thiem ward (An Khanh) — most of the area | Holds the 9.2-hectare core; VIFC-HCMC headquarters expected to relocate here after 2027 | Where prime riverside apartment and townhouse stock still exists; the clearest long-run impact |
| Ben Thanh ward — part of the ward | Existing office and financial-services fabric | Effectively built out; new residential supply is rare and priced accordingly |
| Sai Gon ward — part of the ward | Existing office and financial-services fabric | Same picture — refurbishment rather than new build |
In short: the two downtown wards supply the offices that already exist, while Thu Thiem is where the centre still has room to grow. That is why every serious property discussion about VIFC ends up on the eastern side of the river rather than in the old District 1.
The 898-hectare boundary and office supply inside VIFC-HCMC. Graphic: Realtique — figures from the VIFC-HCMC operating agency and CBRE research
17 August 2026: The Portal Opened, But Not To Everyone
At SIHUB in Ho Chi Minh City, the VIFC-HCMC operating agency and its Da Nang counterpart launched the 2026–2027 membership registration and recognition system on the vifc.gov.vn portal. Companies can now file, track, update and terminate membership applications entirely online. It comes with Decision 01/Q&Đ-CQ&ĐH of 11 August 2026, which standardised 31 forms — 20 for businesses and 11 for administrative bodies. Nguyen Hong Van, Deputy Chairman of the VIFC-HCMC operating agency, said the system is intended to cut time and cost for investors while keeping the process transparent.
⚠️ The caveat that matters: in this first phase the portal applies to organisations operating in sectors outside banking and financial services. Banks and financial institutions continue under a separate licensing route. So 17 August is not the date international banks began registering online, and any pitch that frames it that way is overstating it.
US$20 Billion or US$9 Billion? Two Numbers, Two Different Things
Both figures circulated in the same week, and they do not contradict each other — they measure different things:
- ~US$20 billion in committed capital — the cumulative commitment from domestic and foreign investors and partners, roughly six months after the 11 February 2026 launch.
- Over US$9 billion in registered capital — from 13 founding and strategic members, a much narrower group. Over the same period, more than 500 businesses had registered as applicants.
Committed capital is not disbursed capital. This is the gap to keep in mind when reading any VIFC number at this stage. Commitment signals intent; what actually moves residential pricing is the number of people turning up to work and the office floorspace genuinely absorbed — which is the next section.
An investment promotion conference on 11 August 2026 drew more than 250 delegates, domestic and international.
What This Actually Changes for a Foreign Buyer
Start with the honest answer to the question most foreign buyers ask first: VIFC status does not change the foreign ownership rules. The 30% cap per apartment building, the eligible-project list, and the 50-year renewable ownership term all still apply exactly as before. If you want that framework in detail, see our guide to Vietnam’s 30% foreign ownership quota. Anyone implying the financial centre creates a special ownership carve-out for foreigners is selling something.
What does change is demand. According to CBRE research published on 12 August 2026, the area inside the VIFC boundary currently holds 765,144 sqm of office space across 33 buildings. Roughly 165,229 sqm of Grade-A space is due between 2026 and 2028, and total supply is projected to exceed 1.09 million sqm by 2030. Demand is forecast to come from IT and software, financial services, and multinational Global Capability Centres.
That is a tenant profile, not an abstraction: senior professionals on expatriate or senior-local packages, the group that pays a premium for a fifteen-minute commute. For Thu Thiem, that commute radius covers exactly the stock foreign buyers are usually shown — riverside apartments in the core, Palm City, and the An Phu – Nam Rach Chiec corridor.
Pricing context to calibrate against: in Q2 2026 the average Ho Chi Minh City apartment price reached roughly VND 76 million per sqm of net area, up 8% quarter-on-quarter and 16% year-on-year. New launches are clearing above VND 90 million per sqm, with about 80% of new supply priced above VND 120 million per sqm. Q3 2026 new supply is forecast at 10,000–13,000 units.
Thu Thiem peninsula seen from central Ho Chi Minh City — the 9.2-hectare VIFC core sits within this area. Photo: Quynh Tran/VnExpress
The 99-Storey Tower: Where It Actually Stands
The 500-metre tower gets shared as breaking news. It is worth dating properly: the proposals surfaced in March–April 2026 and remain at the planning-consultation stage. Nothing has been approved.
What is proposed: on plot 1.K1.8.HH in An Khanh ward, in the Thu Thiem core, roughly 10,000 sqm of land, 99 floors above ground plus five basement levels, and about 400,000 sqm of floor area — raising the permitted height from a maximum of 30 floors (120m) to around 500m. The programme covers Grade A+ offices, retail, a five-star hotel, a conference centre and expert residences. Two consortia have been named: Sovico–HDBank (~US$1.84bn) and REE–HFIC–VinaCapital (~US$1.15bn, split REE 43% / HFIC 33% / VinaCapital 24%).
If approved and built, it would pass Landmark 81 (461.3m, 81 floors) as Vietnam’s tallest building. “If” is doing heavy lifting in that sentence — and it is not a sound basis for a purchase decision today.
Realtique's View: What to Take From This, and What Not To
1. Read VIFC as a multi-year process, not an event. The headquarters relocation to Thu Thiem is only expected after 2027; office supply reaches the 1.09 million sqm mark around 2030. If you are buying to hold or to live in, you have time to be selective. If you are hoping for a price spike within a few months, this is not that story.
2. Separate policy news from construction news. The membership portal opening on 17 August is a policy step that verifiably happened. The 99-storey tower has not. The two carry very different weight when money is on the table.
3. Do not price an apartment by its distance to the VIFC boundary. The boundary is wide, and most of it sits in downtown wards that were expensive long before any of this. What still separates a good purchase from a poor one is unchanged: project legal status, handover track record, developer quality, remaining foreign quota in the specific building, and real transport connections rather than planned ones. For the practical version of that comparison, see Thu Thiem vs The Global City and our Thu Thiem foreign buyer’s guide.
Frequently Asked Questions
Where is Vietnam’s international financial centre in Ho Chi Minh City?
The VIFC-HCMC boundary covers roughly 898 hectares: most of Thu Thiem ward (An Khanh) plus parts of Ben Thanh ward and Sai Gon ward. The 9.2-hectare core zone is in Thu Thiem, and the operating agency’s headquarters is expected to relocate there after 2027.
Does the financial centre change the rules for foreigners buying property?
No. The 30% foreign ownership cap per apartment building, the approved-project list and the 50-year renewable ownership term are unchanged by VIFC status. The centre affects demand, not eligibility. Treat any claim of a special foreign-ownership carve-out inside the zone with scepticism.
How do companies register as VIFC members?
Since 17 August 2026 the whole process runs online at vifc.gov.vn — registration, recognition, updates and termination. The procedures follow Decision 01/QĐ-CQĐH of 11 August 2026, covering 31 standardised forms (20 for businesses, 11 for administrative bodies). In this first phase it applies to businesses outside banking and financial services; banks and financial institutions follow a separate licensing route.
How much capital has the centre attracted?
About US$20 billion in committed capital roughly six months after the 11 February 2026 launch. A narrower measure shows over US$9 billion in registered capital from 13 founding and strategic members, with more than 500 businesses registered as applicants. Committed capital is not the same as disbursed capital.
Has the 99-storey Thu Thiem tower been approved?
No. The proposal, on plot 1.K1.8.HH in An Khanh ward, dates from March–April 2026 and is still at the planning-consultation stage — raising the permitted height from a maximum of 30 floors (120m) to roughly 500m. It should not be treated as a confirmed part of the district’s future.
⚠️ Please note: boundaries, membership rules and building proposals in this article are compiled from official announcements and press coverage as of 18 August 2026, at a stage where the project is still being implemented and details may be adjusted. Items marked “expected” or “projected” are not final decisions. This is not investment, financial or legal advice — please speak to a Realtique adviser to confirm the current position before making a decision.
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KC Pham
KC Pham advises foreign buyers and overseas Vietnamese on prime residential property in Ho Chi Minh City, with a focus on the eastern corridor around Thu Thiem.
