Trump International, Vietnam
A $1.5 billion luxury golf and residential complex under development in Hung Yen province, Vietnam, the Trump Organization's first branded project in the country, developed in partnership with Vietnamese entrepreneur Dang Thanh Tam's Kinh Bac City Development Holding Corporation.
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- Established
- 2025
- Location
- Hung Yen province, Vietnam
- Country
- Vietnam
- Partners
- The Trump Organization (branding/licensing partner) and Hung Yen Hospitality, a subsidiary of Dang Thanh Tam's Kinh Bac City Development Holding Corporation
- Investment
- $1.5 billion
- Scope
- A 54-hole golf complex, luxury villas, a resort hotel and a modern urban area, on roughly 1,000 hectares (about 2,500 acres)
- Licensing fee
- $5 million paid by the developer to the Trump Organization, per Donald Trump's June 2025 financial disclosure
- Golf course designer
- Bryson DeChambeau, two-time U.S. Open champion
- Government approval
- Formal investment approval decision signed by Deputy Prime Minister Tran Hong Ha, May 2025
- Trump Organization project director
- Charles James Boyd Bowman
Overview
Trump International, Vietnam is a $1.5 billion luxury golf and residential development under construction in Hung Yen province, roughly 37 miles south of Hanoi — the Trump Organization’s first branded project in Vietnam (Vietnam Investment Review). The project is a licensing partnership between the Trump Organization and Hung Yen Hospitality, a subsidiary of Vietnamese entrepreneur Dang Thanh Tam’s Kinh Bac City Development Holding Corporation. The development spans roughly 1,000 hectares and is planned to include a 54-hole golf complex, luxury villas, a resort hotel and a modern urban area, with the golf course designed by two-time U.S. Open champion Bryson DeChambeau.
Deal origins and structure
Dang Thanh Tam began building a business relationship with Eric Trump in early 2024; his industrial-park company, Kinh Bac City, had benefited from the Trump administration’s first-term trade war as manufacturers relocated from China to Vietnam to avoid tariffs, a background that positioned him favorably for the partnership. The Trump Organization conducted due diligence on Dang before the two sides signed the licensing deal in New York in September 2024. Under the agreement, the developer paid a $5 million licensing fee to the Trump Organization, as disclosed in Donald Trump’s June 2025 financial disclosure (Forbes). A groundbreaking ceremony was held on May 21, 2025, with Eric Trump representing the Trump Organization.
Investment approval and licensing structure
Vietnam’s government formally approved the project’s investment decision in mid-May 2025, signed by Deputy Prime Minister Tran Hong Ha; at that stage, official filings put the development’s footprint at more than 990 hectares (about 2,446 acres) across communes along the Red River in Hung Yen’s Khoai Chau district, organized into eco-residential zones with golf courses, a commercial urban zone, and a green park, with total capital estimated at roughly $1.5 billion and about VND4.1 trillion earmarked specifically for compensation and resettlement (Vietnam News). That approval also specified the golf facility as two courses — one with 36 holes and one with 18 — together making up the “54-hole” complex reported by the Vietnam Investment Review. In June 2026, Hung Yen province leased Kinh Bac City Development Holding Corporation an additional 81 hectares for the project, with reporting at that point describing the total footprint as 888 hectares (Golf Industry Asia).
The $5 million licensing fee is paid by Hung Yen Hospitality Services JSC, a Kinh Bac subsidiary, to DT Marks Vietnam LLC — a company that is 79% owned by DTTM Operation LLC, a Trump trademark-management entity, and 20% owned directly by the Trump family. As of the underlying U.S. federal ethics disclosure, DT Marks Vietnam LLC had recorded $4 million of that fee as received or receivable, with roughly $1 million still pending (The Investor). The Trump Organization has said it receives licensing fees and will operate the club once it is complete, but is not directly responsible for compensation payments to residents affected by the project, which it says are handled by the Vietnamese developer (Asia Times).
Land acquisition and displacement
Asia Times reported in July 2026 that building the project required exhuming more than 3,500 ancestral graves and relocating more than 4,000 families, and that some residents protested the compensation offered as insufficient (Asia Times). This is broadly consistent with the scale of the compensation and resettlement budget disclosed in the project’s May 2025 investment approval, described above.
Government backing and other regulatory developments
Vietnamese officials have publicly and repeatedly backed the project: Asia Times reported that President To Lam, the finance ministry and the Hung Yen People’s Committee have all endorsed it, and that the Ministries of Defense and Public Security have issued guidance on security-related matters, including foreign property sales. On March 18, 2025, Prime Minister Pham Minh Chinh met with the Trump Organization’s project director, Charles James Boyd Bowman, and pressed for the project’s completion to be accelerated; officials were reported to be targeting a faster, unofficial completion date of around March 2027, timed to Vietnam’s hosting of the APEC summit — a target distinct from the Q2 2029 completion date set out in the official investment approval (VietNamNet).
Separately, Hung Yen’s Department of Construction announced in early 2026 that foreign buyers may purchase homes in the development, subject to limits: up to 250 low-rise houses (excluding 12 villas restricted under Ministry of Public Security guidance), and no more than 30% of the apartments in any one building in one designated sub-zone (VietNamNet).
What this profile does not claim
This profile does not reconcile the project’s inconsistently reported land area — roughly 990 hectares at the time of formal investment approval in May 2025 versus 888 hectares in mid-2026 reporting after an additional land lease — or the differing figures given for Kinh Bac City Development Holding Corporation’s exact ownership stake (85% in one account, 95%/99% in another); both discrepancies are presented as each outlet reported them (see openItems). It presents both the officially approved Q2 2029 completion date and a separately reported, unofficial push for completion by around March 2027 without asserting which is more likely to hold. It does not independently verify claims, found only in Wikipedia and not corroborated by any independent source this profile’s author could fetch and read, about the identity of additional financing partners beyond Kinh Bac and the Trump Organization or about any personal background of Trump Organization project personnel — those leads were not added here for lack of independent verification. Beyond what the sources cited above report, this profile does not assess the project’s broader environmental, legal or political context in Vietnam.
Timeline
- 2024 (early)
- Dang Thanh Tam begins developing a business relationship with Eric Trump.
- 2024-09
- The Trump Organization and Dang's company sign the licensing deal in New York, after the Trump Organization conducts due diligence on Dang.
- 2025-05-21
- A groundbreaking ceremony is held for the project in Hung Yen province, with Eric Trump representing the Trump Organization.
- 2025-03-18
- Prime Minister Pham Minh Chinh meets with Trump Organization project director Charles James Boyd Bowman; Vietnamese officials push to accelerate the project's construction timeline.
- 2025-05-16
- Vietnam's government issues the formal investment approval decision for the project, signed by Deputy Prime Minister Tran Hong Ha, putting its officially recorded footprint at more than 990 hectares (about 2,446 acres).
- 2026-06
- Hung Yen province leases an additional 81 hectares to Kinh Bac City Development Holding Corporation for the project, bringing its reported footprint to 888 hectares.
What we could not verify
These claims came up in research and could not be confirmed. They are recorded here rather than published as fact or quietly dropped. If you hold a source that settles one, please tell us.
- Forbes describes the project as spanning "nearly 2,500 acres" with two golf courses, while the Vietnam Investment Review describes it as 1,000 hectares (about 2,470 acres) with a single 54-hole golf complex. Vietnam News's account of the May 2025 investment approval resolves the apparent golf-course conflict: it describes "a 240-hectare golf facility with two courses (36 and 18 holes)" — two courses totaling 54 holes, consistent with both Forbes's "two golf courses" and the VIR's "54-hole" figure. The project's land area, however, remains inconsistently reported over time: Vietnam News put the officially approved footprint at "more than 990 hectares" in May 2025 (close to Forbes's and the VIR's figures), while Golf Industry Asia reported in June 2026 that an additional 81-hectare lease brought the total to 888 hectares — a smaller figure than the original approval despite the added land, which this profile does not attempt to reconcile.
- Expected completion was reported as the second quarter of 2029 by the Vietnam Investment Review; this is now independently corroborated as the project's officially approved timeline by Vietnam News, The Investor and VietNamNet, all describing the same Q2 2025-to-Q2 2029 implementation schedule from the investment decision. However, VietNamNet separately reported that Vietnamese officials, at a March 2025 meeting with the Trump Organization's project director, were pushing for a faster, unofficial completion target of around March 2027 "in time for" Vietnam's hosting of the APEC summit. This profile presents both the officially approved Q2 2029 date and the reported acceleration target without asserting which will prove accurate.
- Sources also disagree on Kinh Bac City Development Holding Corporation's exact ownership stake in the project: Golf Industry Asia reports Kinh Bac holds an 85% stake, while Asia Times reports that Kinh Bac's project subsidiary is 95%-owned by Kinh Bac and contributed 99% of the operating company's charter capital. This profile does not attempt to reconcile the two figures.
Sources
8 sources (3 tier 1, 5 tier 2), each opened and read against the claim it supports. Every source is independent of the subject; no first-party material is cited. See the source policy.
Forbes's reporting on the deal's origins and structure, and the Vietnam Investment Review's reporting on the project's scope and groundbreaking, were both fetched and read in full, as were Vietnam News's reporting on the formal investment approval, Golf Industry Asia's reporting on a subsequent land-lease expansion, The Investor's reporting on the licensing-fee corporate structure (drawn from a U.S. federal ethics disclosure), Asia Times's reporting on land acquisition and displacement, and VietNamNet's reporting on foreign ownership rules and on government efforts to accelerate completion. All are independent of the Trump Organization and of Dang Thanh Tam's companies. Several report differing figures for the project's exact acreage, ownership percentages and completion timeline, presented below as each outlet reported them rather than resolved by guesswork.
- Trump Saved This Vietnamese Real Estate Mogul's Fortune. Now They Are Opening A Golf Resort Together Supports: The deal's structure and partners, the $5 million licensing fee per Trump's financial disclosure, the September 2024 deal signing, the May 2025 groundbreaking, and background on Dang Thanh Tam's business relationship with Eric Trump.
- Construction begins on $1.5 billion Trump Organization golf complex in Hung Yen Supports: The $1.5 billion investment figure, the project's location and scope (54-hole golf complex, villas, resort, urban area), the partner companies, and the expected 2029 completion date.
- Trump resort rises on Vietnam graveyard as US links grow Supports: The scale of land acquisition and displacement (exhumation of more than 3,500 graves and relocation of more than 4,000 families, with compensation protests), the Trump Organization's stated position that it is not directly responsible for compensation payments, the reported 95%/99% Kinh Bac ownership figures, and the list of Vietnamese government bodies that have publicly backed the project.
- Trump Group's $1.5 billion project in Hung Yen approved for investment Supports: The formal investment approval decision signed by Deputy Prime Minister Tran Hong Ha, the officially recorded ~990-hectare footprint, the four-zone project layout, the 36-and-18-hole golf facility (resolving the Forbes/VIR golf-course discrepancy), the VND4.1 trillion compensation and resettlement allocation, and the Q2 2025-Q2 2029 implementation schedule.
- $1.5 Billion Trump International Hung Yen Golf and Residential Complex Expands with Additional Land Supports: The additional 81-hectare land lease bringing the project's footprint to 888 hectares, the two-golf-course (36-hole and 18-hole) structure, and Kinh Bac's reported 85% stake in the project.
- Trump family to receive $5 mln in license fees for mega golf course development in Vietnam Supports: The corporate structure of the $5 million licensing fee (paid by Hung Yen Hospitality Services JSC to DT Marks Vietnam LLC, which is 79% owned by the Trump Organization's trademark-management arm DTTM Operation LLC and 20% owned directly by the Trump family), and the $4 million recorded as received or receivable against that fee as of the underlying federal ethics disclosure.
- Foreigners permitted to buy homes at Trump International Hung Yen Supports: The Hung Yen Department of Construction's rules permitting foreign buyers to purchase up to 250 low-rise houses (excluding 12 villas restricted under Ministry of Public Security guidance) and up to 30% of apartments per building in one sub-zone.
- Vietnam pushes for early completion of Trump Organization's $1.5 billion project Supports: The March 18, 2025 meeting between Prime Minister Pham Minh Chinh and Trump Organization project director Charles James Boyd Bowman, and the reported unofficial target of completing the project by around March 2027 in time for Vietnam's hosting of the APEC summit.
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