M&A Expands Land Bank
Never before has the market been so excited about the news that all 3 real estate-related laws, including the amended Housing Law, the amended Real Estate Business Law, and the amended Land Law, were passed almost simultaneously. The changes in the new laws, though not yet applied, will be a positive sign to overcome the current obstacles of the real estate market.
According to experts, the policy progress not only opens up a new cycle of stable, sustainable, and effective growth but also provides motivation for real estate businesses to thrive.
Westgate complex in Binh Chanh administrative centre
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Considering the expansion of the land bank as a continuous strategy, An Gia constantly seeks opportunities, implements M&A, expands a clean land bank, prioritizes projects that have been approved for investment, suitable for affordable development and fast deployment time. The company is currently in the process of in-depth assessment of two potential land funds in District 8 and Thu Duc (Ho Chi Minh City), with the expected supply of over 4,000 products.
Prior to that, in 2022, the company acquired a 3.2-hectare land fund in Binh Chanh, with an expected supply of about 2,000 apartments. Besides that, the Company is also in the process of completing negotiations to purchase more new land funds to implement low-rise residential projects. The land bank development goals also include accumulation for long-term goals in the future.
According to An Gia representative, the characteristic point of the company’s projects is good location, beautiful design, mid-range price but high-quality accessibility. Therefore, projects such as Westgate (Binh Chanh), The Song (Vung Tau) have welcomed a 90% absorption rate of customers’ interest just a few months after the launch.
Westgate Apartment (Binh Chanh) with affordable prices for young families
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In addition to the plan to expand the land bank, An Gia also constantly cooperates with prestigious partners and financially capable partners from South Korea, the United Kingdom, Japan, and Taiwan to diversify sources of capital. These investors participate in direct capital contribution to projects that An Gia deploys and at the same time become large shareholders with An Gia to realize the strategic development of medium-priced and affordable housing projects.
The Dragon Year’s big plan
In 2024, An Gia will transfer its management and business strategy from “cautious and responsive” to “proactive and adaptive” to successfully adapt to any unfavorable market fluctuations. At the same time, continue to focus on 2 core competencies: project development capability and sales, customer care capability.
The company plans to launch The Wind Riverside project (Binh Duong) – which has been granted a credit limit of VND 2,000 billion, with a scale of about 3,000 apartments.
The project is adjacent to the arterial road Ha Noi and Metro Line 1 (Ben Thanh – Suoi Tien), positioned by the investor as a complex by the Dong Sai Gon river, fully integrated with amenities, commercial and service; targeting real buyers in Ho Chi Minh City and bordering areas such as Binh Duong, Dong Nai.
“The company remains steadfast in the mid-range real estate segment. This is a segment that always has a good absorption rate despite market fluctuations. An Gia’s point of view is not to follow the market, not to buy land funds or buy projects at any cost. The company will have detailed analysis of the land area to ensure that when launched on the market, the cost of the product will be suitable for the majority of buyers”, said An Gia representative.
In addition to the plan to launch The Wind Riverside project, the company aims to maintain a healthy debt ratio, increase cash and equivalent cash reserves, and prepare resources to be proactive and adaptive to the “new picture” of the real estate market.
An Gia representative accepting the Top 10 Impressive Real Estate Investor award in 2023
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In the first quarter of this year, An Gia was honored to be among the Top 10 Impressive Real Estate Investors in 2023. The award, voted by Construction Newspaper and Independent Evaluation Council on scientific and objective principles, aims to honor Real Estate Investors and Developers with influence and outstanding activities, positively contributing to the general development of the Vietnam real estate market.
According to An Gia representative, the award not only contributes to building an impressive image of An Gia in the eyes of the public and investors but also gives motivation for the company to continue to create new values, and more breakthroughs in the future.
