Hoang Quan joins hands with Novaland to build social housing, currently piloting in Binh Thuan

Hoàng Quân - Ảnh 1. — This year, Hoang Quan aims to supply the market with 5,000 social housing units - Photo: HQ

At the annual general meeting of shareholders held on May 10, Mr. Truong Anh Tuan - Chairman of the Board of Directors of Hoang Quan Real Estate Consulting - Trading - Services Joint Stock Company (HQC) - said that this enterprise has signed an agreement with Novaland in 2024 to build social housing, in order to implement the social housing program that Novaland has committed to the Government.

According to Mr. Tuan, the two sides are actively searching for land to jointly implement and have currently piloted a project of about 10 hectares in Binh Thuan .

Revealing the progress of the 198ha project in Binh Thuan in cooperation with Hai Phat, Mr. Tuan said that both Hoang Quan and Hai Phat have agreed to temporarily suspend the project. However, the two sides will still maintain their connection and seek new cooperation opportunities in the future.

Sharing about the recent decline in Hoang Quan's stock price, Mr. Tuan admitted that there was a paradox between capital increase and stock price decline due to market impact. In the early stages of listing, the stock price of the whole market increased sharply, but then decreased, causing the company's stock to be affected.

"The current stock price of around VND3,000/share reflects the company's true situation, even though the market value is not equal to the book value," said Mr. Tuan.

Assessing the impact of reciprocal taxes on this enterprise, Mr. Tuan said that the development of industrial real estate of this enterprise has encountered difficulties recently due to US-China trade tensions and reciprocal taxes, causing FDI capital flows into Vietnam to slow down. However, this enterprise hopes that the negotiation process will reach an acceptable tax rate.

"Even in the context of high taxes, China can still continue to be a major investor in Vietnam's industrial parks due to the need to shift production. Hoang Quan is waiting for the results of upcoming negotiations to make a strategic decision. If the new industrial park is implemented effectively, it is expected to bring in revenue of VND1,000 billion and profit of about VND70 billion in this year's plan," Mr. Tuan shared.

According to Hoang Quan Real Estate, up to now, this enterprise has completed and put into use 10,000 social housing units in Ho Chi Minh City, Binh Thuan and Khanh Hoa .

In 2025, HQC and its member companies will continue to provide the market with 5,000 social housing units from key projects including Golden City (Tay Ninh) with 1,642 apartments, 629 apartments of HQC Tan Huong project (Tien Giang), Tra Vinh new urban area with 1,251 townhouses and 13.5ha urban area Nam Phan Thiet with 955 townhouses and 261 apartments, social housing area in Binh Minh (Vinh Long) with 300 townhouses.

Hoang Quan wants to issue 50 million shares to convert debt

This year, Hoang Quan set a business plan target of 2025 with revenue of 1,000 billion VND, after-tax profit of 70 billion VND. Currently, Hoang Quan Real Estate recorded revenue of 345.7 billion VND in 2025, up 7% over the same period and completing 17% of the yearly plan. After-tax profit reached 33.8 billion VND, up 550% over the same period and completing 34% of the 2024 plan.

Hoang Quan also plans to issue an additional 50 million individual shares to convert debt, the issuance price is 10,000 VND/share, the total issuance value is 500 billion VND. According to Hoang Quan, this issuance is to convert debt, contributing to improving the financial situation through reducing costs and increasing charter capital.

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Source: https://tuoitre.vn/hoang-quan-bat-tay-novaland-lam-nha-o-xa-hoi-hien-thi-diem-tai-binh-thuan-2025051014182948.htm