The Trump Organization is planning a $1 billion Trump Tower in Ho Chi Minh City, Vietnam, with construction potentially starting in 2026, according to a source familiar with the discussions. The skyscraper, proposed to be at least 60 stories tall, would mark the second major project the Trump family business is pursuing in the country.
Eric Trump, Executive Vice President of the Trump Organization, visited Vietnam last week to assess the Thu Thiem site—an emerging financial district—and to attend the groundbreaking ceremony for a separate $1.5 billion golf resort in the north. That golf resort will be developed by Vietnamese firm Kinhbac City, with the Trump Organization handling operations. A similar model is expected for the Trump Tower project, with local firms funding most of the development.
Vietnam is currently engaged in trade negotiations with the U.S. to avoid 46% tariffs, and Prime Minister Pham Minh Chinh has reportedly expedited approvals for related projects. During his visit, Eric Trump met with local officials and emphasized that the Vietnam developments would become "the envy of all of Asia and the world."
Although permits are still pending, the Trump Organization aims to begin construction of the tower next year. The final investment could exceed $1 billion if approval is granted for additional floors. Both the Trump Organization and Kinhbac City declined to comment.
The Trump Organization, known for luxury towers in New York, Chicago, and overseas locations like Turkey and the Philippines, continues to expand its global footprint with this Vietnam venture. The proposed tower aligns with plans to turn Thu Thiem into a key financial hub in Southeast Asia.