In 2018, Vinhomes, a brand of Vingroup, has still persisted its first rank in the list of the most valuable real estate brands in Vietnam.
With strong investment appetite, Vinhomes’ market capital hit 296 trillion dong ($13 billion) on the Ho Chi Minh City Stock Exchange, marked it the second-most valuable listed Vietnamese company after its own parent, Vingroup, at 324 trillion dong.
As a part of business expansion plan of Vingroup, on 19th May 2018, President Ho’s birthday anniversary, it opened Vincom Plaza, in Hue City, Viet Nam. Currently, some other massive projects are under completion progress, such as Vinhomes Green Bay, Vinhomes Metropolis, etc.
In 2017, the company experienced a sharp growth with nearly 14,000 apartments, villas and commercial building handed over to clients, the minutes of the annual general meeting of shareholders of Vinhomes reported. These projects contributed to the significantly increased rate of the giant and its holding company. In 2017 consolidated income statement recorded that Vingroup achieved more than 89,3 trillion dong in revenue and nearly 5,7 trillion dong in profit.
In the future, the affiliated company of Vingroup will continue to deploy their plans, especially eight high-value projects. The most prominent plan is Vinhomes Central Park at No. 722, Dien Bien Phu street, Binh Thanh district, HCM city which covers an area of 40ha with the 18 blocks, 100 villas, an international hospital and a combination school. The total investment is 30,722 billion dong. The project has been in operation except Landmark 81 building.
Besides, Vingroup has been raising fresh capital for low-income housing under the brand “Vincity” established in 2016, helping Vingroup’s product to cover the market with Vinhome, Vinpearl and Vincom. If the construction progress is on schedule, the first units of Vincity will be launched in late 2018, providing 200,000 to 300,000 units to the market by 2020. The cost of each apartment is about 700 million dong, which is suitable for lower and middle class in Vietnam. Although the furnishing is at the medium level, it still assures the convenience and modern life for buyers.
“Low-income housing is the most promising segment for Vinhome as the demand is increasing while the market currently lacks of major providers”, Le Anh Tuan, head of research at Vietnam Dragon Capital said.
Source: Nikkei, Dantri, CafeF