Vinhomes Company: 'Real estate market will recover soon'

The Company's Board of Directors believes that the Government 's drastic solutions and actions will soon help the real estate market recover this year.

At the annual shareholders' meeting held on the morning of April 27, Ms. Nguyen Thu Hang - General Director of Vinhomes Joint Stock Company commented that with the Government's drastic actions, the real estate market will soon recover.

Mr. Nguyen Duc Quang - Deputy General Director of the Company also emphasized that with the Government's efforts to promote and support the real estate market, real estate is also a key industry of the economy , the market is expected to be better in the coming time, thereby positively affecting the company's sales situation.

According to the plan, this year, Vinhomes plans to continue to launch sales of the remaining apartments of the two projects Vinhomes Ocean Park 2 and 3; Vinhomes Ocean Park, Vinhomes Smart City and Vinhomes Grand Park.

The company said it will continue to focus on quality monitoring and speed up construction progress to quickly deliver products to homebuyers on schedule. At the end of 2022, Vinhomes recorded a record undelivered sales of VND107,600 billion.

Regarding project development activities, the company said it will continue to research and launch new green, smart urban projects this year, depending on the market situation.

polyad — Overview of Vinhomes' annual general meeting of shareholders held on the morning of April 27. Photo: *Vinhomes*

At the same time, the real estate giant also flexibly introduced policies to attract residents to move in early, forming densely populated residential communities, aiming to increase the value of real estate and create a good premise for sales.

In addition, developing social housing under the Happy Home brand continues to be one of Vinhomes' development focuses. The company wants to develop modern urban areas, improve the quality of life and change the concept of social housing, contributing to promoting social security and the economy in localities.

In the industrial real estate sector, Vinhomes said it will accelerate legal completion and infrastructure construction to be ready to sign contracts with partners as soon as industrial park and industrial cluster projects come into operation.

In addition, the company also continues to focus on investing to improve the experience of customers and residents, thereby maintaining its reputation as a prestigious real estate investor in Vietnam, creating leading livable urban areas.

With a solid foundation and proactive response spirit, Vinhomes is expected to continue to grow sustainably and complete this year's business targets. Accordingly, Vinhomes plans to achieve revenue of VND100,000 billion this year and after-tax profit of VND30,000 billion.

Reporting at the congress, the Board of Directors of Vinhomes Company said that 2022 is a challenging year for the Vietnamese real estate market. However, Vinhomes has taken appropriate measures to respond to the fluctuations, when it still launched and opened for sale two major projects Vinhomes Ocean Park 2 and Vinhomes Ocean Park 3, bringing the value of newly signed contracts and undelivered sales of Vinhomes in 2022 to a record high.

By the end of 2022, Vinhomes successfully sold nearly 31,000 apartments, villas and commercial townhouses, with a total value of more than VND 128,200 billion, including retail and large-lot sales, up 62% compared to 2021 and exceeding the plan by 7%. Sales not yet handed over for the first time reached VND 107,600 billion, up 105% compared to the end of 2021.

Total consolidated net revenue in 2022 reached VND 62,393 billion, the main contribution was revenue from sales and handover of major projects Vinhomes Ocean Park 2, Vinhomes Ocean Park, Vinhomes Smart City, Vinhomes Grand Park.

Total consolidated net revenue converted, including revenue from Vinhomes' operations, business cooperation contracts and real estate transfers recorded in financial income exceeded the set plan, reaching VND 81,406 billion.

Pre-tax profit in 2022 reached VND 38,643 billion. After-tax profit in 2022 reached VND 29,162 billion, completing 97% of the 2022 plan. In 2022, the company paid over VND 35,830 billion to the State Budget.

Besides business activities, the company has completed and handed over more than 19,000 apartments, villas and commercial townhouses.

In 2022, Vinhomes will participate in the social housing segment with the Happy Home brand, with projects that have broken ground in Thanh Hoa and Quang Tri .

The industrial real estate sector also recorded positive signs last year, in the context of strong investment in transport infrastructure and Vietnam continuing to attract foreign direct investment (FDI).

In addition, Vinhomes cooperated with VMI Real Estate Management and Investment Joint Stock Company to launch the Fantasy Home investment cooperation product, helping small investors easily participate in investing in the low-rise real estate market with Vinhomes products.

In addition, Vinhomes applies strong and extensive technology to all areas of operation, from business, urban area operations to internal management in 2022.

Along with that, the company focuses on sustainable development when launching the Green Living project in 2022, with the goal of implementing long-term solutions towards building green urban areas, green residential communities, contributing to environmental protection.

Last year, Vinhomes continued to be honored as the leading real estate investor in Vietnam according to the BCI Asia Award, and was the only real estate brand in the Top 10 most valuable brands in Vietnam ranked by Brand Finance.

Hoai Phong

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