Vingroup, formerly known as Vincom, is the largest listed real estate developer in Viet Nam by market capitalization. The group develops commercial, residential and hospitality projects in major cities in Viet Nam. In December 2011, it entered into a merger contract with Vinpearl to merge Vinpearl into Vincom to form Vingroup, creating Viet Nam's largest listed property group based on market capitalization and charter capital and to improve the competitiveness of the group worldwide.