Land Saigon Shareholders' Meeting: Revenue of 172.36 billion VND and early implementation of Dragon Hill Premier project

On the morning of April 24, Land Saigon held the 2025 Annual General Meeting of Shareholders to approve the 2025 business plan and answer shareholders' questions about the start date of key projects.

In 2025, Land Saigon plans total revenue of VND 172.36 billion, down 4.7% year-on-year, pre-tax profit of VND 2.55 billion, down 29.6% compared to 2024, and will continue not to pay dividends to shareholders.

Regarding investment capital needs, the Company plans to invest VND 928.92 billion in 2025. Of which, VND 692.58 billion is for the Dragon Hill Premier apartment project and VND 236.34 billion is for the commercial center project (Dragon Mall) and Office - Trade - Hotel (Dragon Tower).

For the Dragon Hill Premier apartment project, the Company plans to continue implementing bidding packages including foundation and basement construction; design, supply and installation of equipment for the wastewater treatment system; design, supply and installation of equipment for the swimming pool system; and construction of reinforced concrete frames in November 2025.

The Company said that it is currently implementing the Government ’s policy on removing legal backlog projects to combat waste. Accordingly, the authorities are also urgently focusing on reviewing and removing difficulties and obstacles for the projects.

On March 6, 2025, the Department of Natural Resources and Environment established an inspection team and inspected the current status of the Dragon Riverside City project to report to the City. On March 12, 2025, the Ho Chi Minh City People's Committee issued Decision No. 936/QD-UBND on the establishment of a special working group to review and remove difficulties and obstacles for works and projects in the area.

“The Dragon Riverside City project is also on the list of issues to be considered and resolved, and the Company is also making efforts and actively coordinating with the Departments and Branches to resolve difficulties and obstacles in order to achieve the goal that the project will continue to be implemented in the fourth quarter of 2025 as planned,” emphasized Ms. Tran Thi Minh Tam, Member of the Board of Directors and General Director.

Regarding personnel, the Congress dismissed Mr. Vu Hoai and Ms. Bui Huong Que from the Board of Directors according to their resignation letters. On the contrary, it elected Mr. Vu Trung Truc (born in 1984) and Ms. Nguyen Thi Xuan Hoa (born in 1991) for the 2023-2028 term.

Discussion section:

Ms. Tran Thi Minh Tam, General Director of Land Saigon answered all shareholders' questions.

Legal progress of Dragon Hill Premier project?

We expect to complete the project's legal issues in the fourth quarter of 2025. Because currently, the authorities are focusing on reviewing and removing difficulties for the projects so that they can be implemented soon. On March 6, 2025, the Department of Natural Resources and Environment came to inspect the current status of the project. On March 12, 2025, the City People's Committee issued a decision to establish a special working group to remove difficulties for projects in the city. This project is also on the list of projects to be considered for removal. The company is working hard to cooperate with the committee so that the project can continue to be implemented in the fourth quarter of 2025 as planned.

In particular, the progress in 2024 has not been implemented as planned due to general impacts, agencies and sectors are arranging and perfecting their apparatus, which has affected the project implementation progress.

Estimated selling price of Dragon Hill Premier project?

There are many influencing factors such as land use fee payment and market situation at the time of official opening for sale, so the Company will announce the selling price when there is a specific policy.

The company only has 43.5 billion VND in cash at the end of the first quarter of 2025. How will the company mobilize capital to ensure project implementation in the coming time when the investment capital demand is up to 928.92 billion VND? Why did the company lose money in the first quarter of 2025? Will the company be able to complete the 2025 plan?

The loss recorded in the first quarter of 2025 is mainly due to the balance difference at the time when revenue and expenditure flows are not simultaneous because some revenue sources will be exploited in the last 6 months of the year. The Company is confident that it will complete the plan as presented at the 2025 General Meeting.

Recently, the company has had continuous changes in senior leadership. Is there any instability that causes leaders to continuously resign?

The resignation of the leader is a personal wish. The company confirms that it will not affect the company's operations.

When can shareholders visit the model home?

The company plans to renovate the model home as soon as the project completes legal issues.

Why has the stock price increased so much since the beginning of the year? Is there good news about the company?

Stock prices depend on market supply and demand.

At the end of the Congress, the entire proposal was approved.

Source: https://baodautu.vn/dhdcd-land-saigon-doanh-thu-17236-ty-dong-va-som-trien-khai-du-an-dragon-hill-premier-d272945.html