Reinforcing Stability, Driving Business Expansion
In pursuit of stability and sustained business growth, our organization will continue implementing projects in key regions, aligning with our strategic vision for 2032.
Establishing a Foundation for Long-Term Growth
During our meeting, Mr. To Như Toàn, Chairman of Van Phu – Invest’s Board of Directors, highlighted that 2023 marks the commencement of our 10-year strategic plan, encompassing the implementation of strategic initiatives as outlined in our roadmap.
Our unwavering commitment to project development and land acquisition strategy entails participation in project tenders, mergers and acquisitions (M&A) in high-growth areas such as Bac Giang, Bac Ninh, Hai Phong, Quang Ninh, and others.
Despite market headwinds, Van Phu – Invest has substantially fulfilled the targets approved by shareholders at the 2023 Annual General Meeting of Shareholders (AGM). Notably, successful participation in the bidding process and subsequent investment in the mixed-use residential and commercial project in Song Khe, Noi Hoang, Bac Giang province; completion of infrastructure, landscaping, and a portion of the CT2 building for the worker housing and commercial project in Yen Phong district, Bac Ninh; completion of townhouses for the mixed-used residential and commercial project in Zone 2, Southern Urban Area, Bac Giang city, Bac Giang province (The Terra – Bac Giang project); and completion of infrastructure and enhancements to artwork and lighting systems at the Vlasta – Sam Son project, which has been fully handed over to homebuyers.
Regarding internal management, in accordance with our strategy for 2032, 2023 is the inaugural year for implementing strategic initiatives geared towards system development, establishing robust mechanisms and policies in anticipation of a new cycle in the real estate market. We will progressively enhance digitalization in management and operations through the comprehensive adoption of software applications and big data.
Specifically, we have implemented and completed key tasks in finance, human resources, infrastructure development, and operational software, maintaining strict oversight of operations, addressing deficiencies, and improving internal services.
Moreover, our leadership has swiftly implemented optimal solutions such as reducing operating costs, categorizing projects, and allocating resources to expedite legal documentation for near-completion projects in promising locations, while adopting cost-effective construction strategies.
“Amidst a volatile financial market that significantly impacts the stability and continuity of businesses, Van Phu – Invest has maintained financial stability and cost optimization, ensuring efficiency,” stated Mr. Toàn.
In addition to enhancing internal management, our organization prioritizes research and development (R&D) to integrate research outcomes into our design, construction, and operations, encompassing sustainable project assessment, smart city solutions, and eco-friendly materials for children’s playgrounds.
These initiatives have contributed to our successful 2023 financial performance, with revenue and after-tax profit reaching VND 1,877 billion and VND 463.2 billion respectively, fulfilling 85% of revenue targets and 84% of after-tax profit targets approved by shareholders at the 2023 Annual AGM. This outcome is considered favorable amidst the challenges faced by the real estate market since the latter half of 2022.
Focusing on Core Business Activities
With projections indicating ongoing challenges in the real estate market in 2024, Mr. To Như Toàn announced that Van Phu – Invest will concentrate on expanding our real estate business without venturing into other sectors.
Alongside our core business of residential real estate, we will develop income-generating commercial real estate.
Van Phu – Invest endeavors to become a “Human-centric” real estate developer, prioritizing human well-being in every aspect of our operations. Our focus is on mid-range real estate projects in central and suburban areas of prospective cities and provinces. Our meticulously designed and constructed products meet customer needs, ensuring complete amenities, comprehensive legal documentation, and financial support, providing our clients with optimal solutions.
Notable projects include The Terra Bac Giang, launched in 2023; Vlasta Thuy Nguyen, Hai Phong, scheduled for launch in Q4 2024; and Vlasta Quang Binh, Quang Binh, anticipated for launch in 2025, which are projected to contribute approximately VND 7,000 billion in revenue during the 2024-2025 period.
Regarding investment preparation, our leadership will adhere to our established strategy of pursuing projects in key locations with high potential and substantial space for growth, encompassing: executing land acquisition
