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РусскийSunshine Group — developer of Noble Palace and Sunshine Sky City
Sunshine Group is a listed real estate group developing high-end apartment and low-rise projects in Hanoi and Ho Chi Minh City. At the end of 2026, the group expanded its land bank with the Bac Thang Long urban area and part of the Starlake Tay Ho Tay project.
Sunshine Group is a real estate group listed on HNX, developing high-end apartment and low-rise lines called Noble Palace and Noble Crystal in Hanoi and Sunshine Sky City in Ho Chi Minh City. At the end of September 2026, the group's consolidated total assets were nearly 121,000 billion VND. If you are interested in high-end property in Tay Ho, Long Bien or north of the Red River, this is a developer worth following.
About Sunshine Group
- Legal entity: Sunshine Group Joint Stock Company, ticker KSF on HNX, headquartered in Hanoi. The Chairman of the Board is Mr Do Anh Tuan.
- Ecosystem: Sunshine Homes Development JSC is the group's project development company. In April 2025, Sunshine Homes shareholders approved a plan to merge Sunshine Homes into Sunshine Group. In October 2026, Sunshine Homes appointed Mr Dinh Chi Hieu as General Director.
- Financial scale: in the first 9 months of 2026, consolidated profit before tax exceeded 5,900 billion VND. As at 30 September 2026, total assets were nearly 121,000 billion VND and equity exceeded 23,200 billion VND; advances from buyers exceeded 32,000 billion VND.
Sunshine Group projects under development
Noble Palace, Noble Crystal — Hanoi
The high-end line comprises Noble Palace Tay Ho, Noble Palace Long Bien, Noble Palace Tay Thang Long, Noble Crystal Tay Ho and Noble Crystal Long Bien. At the end of October 2026, handover of the low-rise Noble Palace projects was being accelerated.
Sunshine Sky City — Ho Chi Minh City
A retail, services and apartment complex. Towers S2, S3 and S4 are completing their final stages (October 2026).
Bac Thang Long multi-purpose urban area — Hanoi
On 30 October 2026, the Hanoi People's Committee approved the investment policy for the Bac Thang Long urban area in Thien Loc and Phuc Thinh communes: a total area of about 465 ha, investment of about 99,788 billion VND and a population of about 97,500, to be built in 2026 – 2032. The investor is a consortium of 5 companies, including Sunshine Group JSC and Hanoi Housing Development and Investment Corporation (Handico). The project is at the compensation and site clearance stage — no products are on sale yet.
Part of the Starlake Tay Ho Tay urban area — Hanoi
On 6 November 2026, the Hanoi People's Committee approved the transfer of part of the Starlake Tay Ho Tay urban area to Xuan La Construction Investment JSC (97% owned by Sunshine Homes). The scale and products of this part of the project have not been announced.
How HPR can help
HPR does not distribute Sunshine Group projects. If you are considering one of the group's products, an HPR consultant can help you compare it with other projects in the same segment, check the project's legal status (especially for projects being completed or with a newly approved investment policy) and calculate your home purchase cash flow against the payment schedule. If you already own an apartment you want to resell or rent out, you can consign it with HPR.
Which Sunshine Group project are you considering? Leave your phone number — an HPR consultant will help you compare projects, check the legal status and work out your cash flow based on your budget.
