Land prices in Ho Chi Minh City increased dozens of times with the new price list; Vincom Retail maintains net profit of trillions

That's some outstanding real estate information last week.

Ho Chi Minh City rebuilt the land price list, many areas increased prices dozens of times

Ho Chi Minh City Department of Natural Resources and Environment is collecting comments on a draft decision to adjust Decision No. 02/2020/QD-UBND on land price list in the area.

The new spreadsheet is expected to apply from August 1 to December 8, 31. After that, the agencies will summarize and evaluate the economic and social impacts to continue adjusting the land price list applicable from January 12 to December 2024, 1.

With the new land price list, Le Loi Street will have a land price of up to 810 million VND/m2, an increase of 5 times compared to the current price. Photo: Le Toan

In the draft, it is expected that in the last 5 months of 2024, Dong Khoi, Nguyen Hue and Le Loi streets will have a new land price of about 810 million VND/m2, an increase of 5 times compared to the previously regulated level.

Some neighboring areas such as Ton Duc Thang street (section from Me Minh Square to Nguyen Tat Thanh bridge) also have land prices up to 528 million VND, an increase of 422,4 million/m2 compared to the current price frame. Pham Hong Thai Street has a land price of 418 million VND/m2, an increase of 334,4 million VND/m2 compared to before.

In the city. In Thu Duc, the current land price frame only stipulates prices ranging from 5 - 7 million VND/m2, with some places over 20 million VND/m2. However, the numbers have now skyrocketed. For example, on Tran Nao street, this place is expected to have a land price of up to 149 million VND/m2, a sharp increase from 13 - 22 million VND/m2 according to the old calculation method.

Even roads located in the "rich area" of Thao Dien ward previously only had land prices of about 7,8 million VND/m2. Currently, the price calculated according to the land price list has increased to 88 - 120 million VND/m2.

Hanoi applies a new land price adjustment coefficient 

From July 29, 7, Hanoi will apply new regulations in Decision No. 2024/45/QD-UBND on land price adjustment coefficients in 2024 for cases where coefficients are applied according to the provisions of law. the law.

Specifically, the price adjustment coefficient for agricultural land, forestry land, and land with water surface for aquaculture is 1,0.

The agricultural land price adjustment coefficient (including garden land and ponds adjacent to residential land) serves as the basis for determining the difference between the land use fee for the new purpose and the agricultural land use fee. : K = 1,0.

The price adjustment coefficient for non-agricultural production and business land and commercial and service land in the group of districts of Hoan Kiem, Ba Dinh, Dong Da, Hai Ba Trung are 1,40 and 1,70 respectively; in Cau Giay, Thanh Xuan, Tay Ho district group is 1,35 and 1,60; In the group of districts of Long Bien, Hoang Mai, Ha Dong, Bac Tu Liem, Nam Tu Liem are 1,28 and 1,50...

In addition, the land price adjustment coefficient serves as a basis for collecting land use fees for households and individuals whose land use rights are recognized by the State, allowing change of land use purpose for residential land areas. exceeding the limit prescribed in Clause 3, Article 3 of Decree No. 45/2014/ND-CP.

Accordingly, the coefficient in Hoan Kiem, Ba Dinh, Dong Da, Hai Ba Trung districts is 2,00. Cau Giay, Thanh Xuan, Tay Ho districts are 1,75. Long Bien, Hoang Mai, Ha Dong, Bac Tu Liem, Nam Tu Liem districts are 1,70...

In cases where several land locations are auctioned for land use rights in the same area or route, the profitability characteristics and land use coefficients (construction density, building height, etc.) are different from those. The average level of the region, route, and city. Hanoi assigns the People's Committees of districts and towns to be responsible for reviewing and reporting to the Department of Finance to synthesize, develop and advise on adjusting the issued land price adjustment coefficient according to regulations.

Hanoi is looking for investors for two urban areas in Thanh Tri district

According to the notice seeking investors from the Department of Planning and Investment of the City. Hanoi, new urban area C3-1 has a scale of more than 27 hectares located in Dai Ang commune, Thanh Tri district. The current status of the land is mainly agricultural land for growing rice, irrigation canals and a portion of residential land (excluding the planned road area and existing school).

The project is expected to provide 580 low-rise apartments (villas, townhouses) 4-5 floors high, two 17-storey apartment towers and an 8-storey social housing building with more than 520 apartments. The population size is nearly 6.800 people. The total investment capital of this project is nearly 4.500 billion VND.

In addition, the City Department of Planning and Investment. Hanoi is also looking for investors for Lien Ninh new urban area in Lien Ninh commune, Thanh Tri district, with a scale of more than 30 hectares. 

The land for the project implementation is agricultural land of households and individuals assigned according to Decree 64 of the Government, field ditches and cemeteries managed by the People's Committees of Lien Ninh, Ngoc Hoi and Ngu Hiep communes. .

The project is expected to provide the market with more than 270 villas, townhouses, 4-5 floors high and a 30-storey social housing building with more than 800 units. The population size is about 4.500 people. Total project investment capital is nearly 3.200 billion VND.

The two projects have an operating period of 50 years, with implementation progress from now to 2028 - 2029. Once completed, the two projects will form a new urban area with synchronous technical and social infrastructure, Meet the housing needs of people in the area, create budget revenue from bidding on land use rights.

Long An is looking for investors for two social housing projects in Duc Hoa district

The Department of Planning and Investment of Long An province is inviting interested investors to submit registration documents to implement a 9,53-hectare social housing project in Duc Hoa Dong commune, Duc Hoa district. When completed, the project will be released to the market 2.895 apartments. This is expected will be the settlement of about 7.283 people. The total investment capital of the project is more than 3.708 billion VND.

Also in Duc Hoa Dong commune, Duc Hoa district, the Department of Planning and Investment of Long An province is looking for investors to build a social housing area with an area of ​​about 9,62 hectares with 2.991 apartments. The population size here is 7.505 people. The total investment capital of the project is more than 3.935 billion VND.

Both of the above projects have an operating term of 2 years, calculated from the date the investor decides to allocate land, decides to lease land, or decides to change the purpose of land use. The project implementation schedule is 50 years, from the date of the investor's approval decision.

Vincom Retail still maintains a net profit of trillions in the second quarter of 2024

Vincom Retail Joint Stock Company (VRE) has just released a report finance In the second quarter of 2024, consolidated revenue reached 2.478 billion VND, an increase of 14% over the same period last year.

Among them, rental activities real estate invest and providing related services is still "the goose that lays golden eggs", bringing in nearly 1.940 billion VND, not much different compared to the same period. However, real estate transfer activities bring in twice as much revenue, up to 466 billion VND.

Vincom Retail opened 4 shopping centers in June 6. Photo: VRE

In addition, financial revenue in the second quarter of 2024 also increased by 51%, reaching VND 420 billion. Most of the revenue comes from interest on deposits, loans and deposits.

Finally, Vincom Retail had a net profit of 1.021 billion VND, a slight increase of 2% over the same period. The above achievement marked the 6th consecutive quarter the company has had a profit after tax of over 1.000 billion VND. 

Accumulated in the first 6 months of this year, Vincom Retail recorded net revenue of up to 4.733 billion VND, an increase of 15% over the same period last year. Profit after tax reached VND 2.104 billion, a slight increase of 4%. With the above results, the company has now completed 49% of its revenue target and 47% of its profit target.

As of June 30, 6, the total assets of the enterprise reached nearly 2024 billion VND, an increase of about 52.328% compared to the end of last year. In particular, the company's liabilities increased by 10%, to VND 25 billion. Equity is VND 12.397 billion, an increase of about 39.930%.

The company's inventory has dropped sharply, from VND 639 billion at the end of last year to VND 228 billion at the end of the second quarter of 2024. This is mostly the cost of construction and development of commercial townhouses for sale.

In June 6 alone, Vincom Retail opened 2024 more shopping centers, including 4 new projects: Vincom Mega Mall Grand Park in Ho Chi Minh City (technical opening), Vincom Plaza Dien Bien Phu and Vincom Plaza Ha Giang. At the same time, the business also reopened Vincom Plaza 3/3 in Ho Chi Minh City after a period of renovation.

According to Vincom Retail, these shopping centers all had an occupancy rate of 85 - 92% at the time of opening. Currently, the business has a total of 86 shopping centers in 46/63 provinces and cities nationwide, with more than 1,81 million m2 of retail floor area (GFA) throughout the system.

In addition to the above projects, recent financial reports also show that Vincom Retail is investing in building a series of new projects such as Bac Ninh Hotel, Vincom Plaza Dien Bien, Vincom Plaza Bien Hoa 2, Vincom Plaza Dong Ha Quang Tri. Among them, the Bac Ninh hotel project is spending the most money with 281 billion VND, as of June 30, 6.

Tin Nghia Industrial Park has net profit increasing 5 times in the second quarter of 2024

The financial report for the second quarter of 2024 of Tin Nghia Industrial Park Development Joint Stock Company (TIP) showed a positive picture of the "health" of the business. Accordingly, the company's net revenue reached 40,7 billion VND, an increase of 7% over the same period last year.

This increase comes from revenue from providing services at Tam Phuoc Industrial Park (Dong Nai). This is a consequence of wood businesses - TIP's customers - having orders again and operating more stably.

In addition, the company's financial revenue also skyrocketed to 67 billion VND in the second quarter of 2024, from 5 billion VND the previous year. This revenue source comes from cooperation with Petroleum Investment and Exploitation Joint Stock Company of Phuoc An Port.

In addition, thanks to TIP reducing the ownership ratio of Olympic Coffee Company, the business has reversed its financial investment provisions in this unit. Thereby, the company's financial costs in the second quarter of 2024 have decreased 15 times, to 105 million VND.

After deducting expenses, TIP's profit after tax reached 68 billion VND, an increase of nearly 5 times compared to the same period last year. 

In the first 6 months of this year, the company's net revenue was about 79 billion VND, up 14% over the same period last year. Profit after tax reached 96 billion VND, an increase of 3,7 times compared to the previous year.

Comparing with the full year business plan, the company has currently achieved 48% of revenue targets and 57% of profit targets.

By the end of the second quarter of 2024, TIP's total assets were VND 2.072 billion, an increase of 4,7% compared to the beginning of the year. Equity reached 1.806 billion VND, a slight increase of 3%.

Liabilities increased by 12%, to 265 billion VND. The strongest increase came from short-term unrealized revenue, increasing from VND 5,6 billion at the beginning of the year to VND 32,5 billion. Most of the above money comes from land rental and infrastructure use fees. 

In addition, the report also revealed that, as of June 30, 6, the company has bank deposits of up to 2024 billion VND. This deposit has a term of 78,4 months and interest rates range from 6 - 2,9%/year.

In addition to the above financial items, the company also invests capital in two affiliated companies, Tin Nghia Security Services Joint Stock Company and Phuoc Tan Company (real estate sector). In addition, TIP also "poured capital" into two other units, Long Khanh Industrial Park Joint Stock Company and Olympic Coffee Joint Stock Company. The total investment amount for all 4 businesses is 419 billion VND.

The company's inventory as of the end of the second quarter of 2024 is VND 146 billion, down 3% over the same period last year. In particular, unfinished production and business costs of the Thanh Phu residential area project (Dong Nai) are the most expensive items, with an amount of up to 59 billion VND. This is a project invested by a subsidiary - Tin Khai Joint Stock Company.

Orienting the company in 2024, TIP management said it will focus on exploiting utility services in Tam Phuoc industrial park. At the same time, businesses will survey and consider investing capital in businesses investing in industrial park infrastructure in the province and the Southeast region that still have land funds and have good development directions...

Nam Long achieved revenue of 456 billion VND thanks to Southgate and Izumi Projects

In the second quarter of 2024, net revenue of Nam Long Investment Joint Stock Company (NLG) reached 252 billion VND, down 3,7 times compared to the same period last year. 

However, Nam Long's financial revenue increased sharply from VND 40 billion in the second quarter of 2023 to VND 249 billion in the last quarter. Of which, the majority of revenue comes from NLG completing the transfer of 25% ownership in Paragon Dai Phuoc Company. The profit from this transaction is worth up to 230 billion VND. 

Ultimately, the company's after-tax profit was about 159 billion VND, down about 45% compared to the same period last year.

Considering the cumulative first 6 months of this year, the company's net revenue is 456 billion VND, down 160% compared to the previous year. In particular, revenue from selling land, apartments, townhouses and villas accounts for 81% of the revenue structure, reaching 371 billion VND. The above amount largely comes from sales activities from key projects Southgate (Long An) and Izumi (Dong Nai).

Profit after tax in the first half of the year only fell to about 94,8 billion VND, down 2,6 times over the same period. 

Previously, NLG set a target of net revenue for the year of 6.657 billion VND, profit after tax of 821 billion VND. Thus, the company is still very far from the set business targets.

As of June 30, 6, NLG's inventory is about VND 2024 billion, an increase of about 19.231% compared to the end of last year. Among them, the projects with the highest value in this category are Izumi (10 billion VND), Waterpoint phase 8.655 (Long An) (1 billion VND), Hoang Nam Akari (HCMC) (3.837 billion VND) …

The financial report also said that by the end of the second quarter of 2024, Nam Long had spent about 23.217 billion VND to build office buildings. In addition, the business spent 13.463 billion VND to build An Thanh market.

In financial investment, the company has "poured" about 1.529 billion VND into affiliated companies and joint ventures such as Paragon Dai Phuoc, NNH Mizuki, Anabuki NL. At the same time, the business is also investing capital in another unit, Hong Phat Financial Investment Company, with an amount of 2,4 billion VND.

Nam Long's total assets are currently about 29.731 billion VND, an increase of 3% compared to the end of last year. Liabilities increased by about 9%, reaching VND 16.425 billion. Equity is VND 13.305 billion, not much changed compared to the end of 2023.

In the previous shareholders' meeting, Nam Long's board of directors said that revenue in 2024 will mainly come from the Akari phase 2 and Southgate projects. Some other projects facing legal problems have also found solutions.

For example, the Izumi project, after many processing efforts, this urban area is expected to be approved for 1/500 planning in December 12 - first quarter of 2024. As for the Paragon project, this urban area has been extended until 2025. NLG will soon submit a new plan for the above project for approval.

In the period 2024 - 2026, the company estimates it can launch 15.000 products to the market. Currently, the enterprise has a land fund of about 681 hectares, enough to develop the project until 2030.

According to the roadmap to 2030, Nam Long will have to complete 14 strategies. In 2024 alone, the company focuses on three important strategies, including investment and investment management, overall finance (including capital mobilization); M&A and growth.