HDC is a property firm in Vung Tau city, a tier-two coastal city in southeast Vietnam. The company owns over 400 ha of low-cost land at convenient locations across Vung Tau but has not yet capitalized on this advantage mostly due to a rather quiet property market in the city. Since the end of 2017, property prices in Vung Tau have started to heat up. Market prices for some HDC land plots have increased by 30% to 60% vs a year ago, per management.