Selective Capital Flows, Execution Capability Speaks

The State Bank of Vietnam net-withdrew more than VND 14,000 billion in the session on September 15, 2026, while the overnight interbank interest rate was maintained at 5.2% per year. This development shows that liquidity is being managed cautiously, raising higher demands on the financial capacity and execution efficiency of real estate businesses.

Liquidity managed cautiously

In the session of September 15, the State Bank of Vietnam offered VND 852 billion via the repo channel with 7-day, 14-day, and 91-day tenors. The entire volume won the bid at an interest rate of 4.5% per year.

At the same time, VND 15,118 billion matured with no treasury bills issued. Accordingly, the amount of capital net-withdrawn from the system reached VND 14,266 billion. The outstanding volume on the repo channel after the trading session remained at approximately VND 175,881 billion.

On the interbank market, average VND interest rates increased across most short-term tenors. The overnight interest rate was at 5.2% per year, the one-week tenor at 5.3% per year, and the one-month tenor at 6% per year. This development reflects the ongoing demand for short-term capital, while regulatory authorities continue to balance liquidity, credit growth, and macroeconomic stability.

A single-session net withdrawal is not enough to establish a long-term monetary tightening trend. However, businesses need to closely monitor capital costs, interest rates, exchange rates, and credit accessibility in the final months of the year.

Capital flows prioritize execution capability

Real estate is a sector with large capital demands and prolonged project development cycles. When interest rates remain high, developers’ financial costs increase, while homebuyers’ borrowing capacity and purchasing decisions are also affected.

In this context, capital flows will prioritize businesses with suitable financial foundations, projects thoroughly prepared in terms of legal status, feasible schedules, and products meeting real demand. A developer’s capability is not only evaluated through land fund scale or investment plans, but must be proven by the ability to bring projects into reality, form assets with exploitation value, generate revenue, maintain cash flow, and translate into business results.

This is a value chain that clearly reflects the reputation, quality, and commitment-delivery capacity of businesses in a market period that increasingly emphasizes capital use efficiency.

QP Holdings affirms its development capability

QP Holdings is a reputable and professional real estate developer in Vietnam, affirming its position across three core sectors: Residential Real Estate, Industrial Real Estate, and Financial Investment.

Residential Real Estate plays a strategic pillar role, focusing on methodically planned projects with synchronized utility systems that meet real demand. Industrial Real Estate targets production and logistics demands as well as the capacity to capture FDI capital flows. Financial Investment supports resource allocation, risk management, and the enhancement of capital use efficiency.

Placing “Reputation and Quality” as the foundation for development, QP Holdings stays steadfast in the principle of legal control, implementing projects according to roadmaps and creating long-term valuable assets. Financial resources are translated into progress, product quality, exploitation capability, cash flow, and verifiable business results.

During a period when capital flows are increasingly selective, this direction helps QP Holdings affirm its execution capability and market position, while fulfilling its mission of creating value, accompanying the long-term and sustainable prosperity of customers, partners, and shareholders.