Early afternoon of November 6, Mr. Donald Trump declared victory.

At the end of the session on November 6, KBC shares of Kinh Bac Urban Development Corporation increased by the ceiling price by 1,850 VND, to 28,850 VND/share with the remaining ceiling price buy orders remaining at more than 1.5 million units, while the remaining sell orders were empty.

Some other industrial real estate stocks also increased dramatically, such as VGC of Viglacera, SZC of Sonadezi Chau Duc, SIP of Saigon VRG Investment Joint Stock Company... VGC, SZC, SIP all increased to the ceiling.

Kinh Bac Urban Development (KBC) shares of tycoon Dang Thanh Tam have increased explosively in the context of investors expecting that Vietnam's industrial real estate industry will benefit significantly when Mr. Trump is elected US president.

Foreign direct investment (FDI) flows are likely to flow strongly into Vietnam following economic policies, including the tax policies that Mr. Trump has pledged to impose on many countries.

FDI capital flows, which have been flowing strongly into Vietnam for many years, are likely to increase during Mr. Trump's new term, thereby promoting the development of industrial real estate groups.

KBC shares may have also surged due to investors' expectations for a cooperation agreement between the Vietnamese industrial real estate giant and The Trump Organization - the corporation of Mr. Donald Trump - to cooperate and invest in a hotel, golf course, and residential complex worth about 1.5 billion USD in Hung Yen.

KBCTrump 2024SepKBC.gif
Mr. Dang Thanh Tam's KBC has an agreement with The Trump Organization - the corporation of Mr. Donald Trump's family - to invest in a 1.5 billion USD project in Hung Yen. Photo: KBC

On October 8, Kinh Bac Urban Development announced that Donald Trump's group will develop a hotel, golf course and residential project through a cooperation agreement with Hung Yen Hotel Services JSC - a subsidiary of KBC.

The complex includes a 54-hole Vvip golf course system, a synchronized resort system and a villa system providing the highest quality services according to the highest standards of the Trump Organization to serve special events. In addition, there is a system of hotels, urban complexes and modern housing.

KBC once quoted Mr. Eric Trump - Executive Vice President at Trump Organization, the third son of Mr. Donald Trump, affirming: "Vietnam possesses outstanding potential in the high-end hotel and entertainment industry."

Mr. Dang Thanh Tam said that Mr. Trump's family has always been a pioneer in setting the highest standards for the hotel industry and KBC looks forward to this potential cooperation.

Trump Organization is a multi-industry private corporation owned by Donald Trump's family. The corporation operates in many fields, including real estate, hotels, golf courses, entertainment, asset management, etc. This is one of the leading corporations in the field of investing in high-end real estate, hotels and golf courses, with many large-scale projects in many countries such as: UAE, Indonesia, Oman, Korea, Philippines, India...

The group was founded in 1927, initially operating mainly in the field of construction and real estate development in New York. When taking over in 1971, Mr. Donald Trump expanded his operations into many other fields, including hotels, golf courses, entertainment, property management, brokerage, marketing...

According to the financial report of the third quarter of 2024, Mr. Tam's company earned a large profit from industrial park business. After-tax profit reached nearly 202 billion VND, a sharp increase compared to 18.5 billion VND in the same period last year. KBC is also holding a large amount of money.

By the end of September, KBC's cash and cash equivalents were over VND7,652 billion, with the majority being short-term deposits with terms of 1-3 months, interest rates of 1.6%-4.5%/year. In addition, over VND1,862 billion was trading securities.

The amount of cash, deposits and large business securities amounted to more than 9,500 billion, an increase of nearly 7,000 billion compared to the beginning of the year, which is the basis for KBC to carry out upcoming major projects, including the project with Trump Organization.

By the evening of November 6 (Vietnam time), many international newspapers reported that Mr. Trump had won more than the minimum number of electoral votes to become the 47th president of the United States.

Donald Trump declares victory: Gold price plummets, Bitcoin, USD soar. Speaking for the first time since the election ended, Donald Trump declared that he "made history". Gold price plummeted, while Bitcoin and USD skyrocketed.