Real estate companies seek solutions to reduce reliance on credit financing.

VTV.vn - Amidst changes in lending policies, real estate businesses are increasing capital mobilization through M&A, bonds, and focusing on the real housing segment.

In 2025, real estate credit is estimated to increase by approximately 22%, the highest rate in the last five years, significantly higher than the overall credit growth rate of the economy . In this context, the banking sector has sent a message that real estate is not a priority area for lending and will become more selective and differentiated. Faced with these changes in credit policy, real estate businesses are seeking to mobilize resources outside of banks and changing strategies to ensure their growth targets and plans are met.

It is evident that with bank credit increasingly focused on the demand for real estate purchases, the real estate market will enter a more sustainable development phase. From the perspective of businesses, as the door to credit narrows, they are also seeking "wider doors" to secure resources for growth.

According to the report, raising capital through bonds, M&A cooperation to attract international investment... are solutions that help businesses avoid dependence on fluctuations in credit policies, and in the long term, this is essential for more sustainable market development.

Instead of continuing to borrow capital, many developers are choosing to raise funds through mergers and acquisitions. One company recently opted to transfer 49% of its shares to a foreign partner to increase resources for developing affordable housing – a segment that the government is encouraging and banks prioritize lending to homebuyers.

Mr. Chu Chee Kwang, Chairman of Nam Long ADC, stated: "The participation of our Japanese partner as a strategic shareholder not only provides additional capital but, more importantly, transfers advanced Japanese management standards and construction technologies. This enables us to improve management efficiency and enhance the quality of affordable housing, contributing to addressing the significant social welfare needs in Vietnam."

The trend of prioritizing credit for actual housing needs is forcing real estate businesses to change their strategies, increase transparency, and diversify their sources of capital mobilization.

Besides mergers and acquisitions, fundraising through bonds has also become active again. From the beginning of May until now, the bond market has seen 6 new issuances, 4 of which were from real estate companies.

Earlier in April, according to statistics from MBS Securities, real estate companies also led the bond market, accounting for nearly 60% of the value of new issuances, equivalent to VND 30,400 billion.

Mr. Phung Xuan Minh - Chairman of SaiGonRatings said: "In reality, raising capital is very difficult, and there are many reasons for this. The bond market has the advantage of long-term maturity and flexibility in borrowing and fundraising, so private placements are relatively favorable."

According to experts, for sustainable development, businesses not only need to diversify their funding sources but also restructure and change their investment strategies in line with policy directions. Accordingly, social housing, rental housing, and affordable housing are segments being encouraged for investment. These segments offer high liquidity, making it easier for businesses to raise capital from customers, and are also preferred by banks.

"We see that for social housing, the government is requiring businesses to develop around 15%, so we are also trying to offer appropriate profit margins and reduce intermediate distribution stages to ensure the most affordable prices for consumers," said Mr. Tran Van Hieu, General Director of OBC Holdings.

Dr. Nguyen Duc Kien, former Vice Chairman of the National Assembly 's Economic Committee, commented: "The policy orientation from now until 2045 remains unchanged, as stated by the General Secretary and President. Therefore, businesses must transform themselves in that direction and prepare to enter the market. The State only sets the rules of the game and provides initial support."

Looking at the long term, given current market and policy pressures, real estate businesses seeking sustainable access to capital must prioritize greater transparency, better governance, and more efficient capital utilization.

Source: https://vtv.vn/bat-dong-san-tim-giai-phap-giam-phu-thuoc-von-tin-dung-100260528161449631.htm