In the prevailing challenging circumstances of the real estate market last year, Khang Dien still endeavored to maintain stable operations, implementing business plans on the basis of transparent law, and quality products. In 2023, Khang Dien signed a joint venture cooperation with Keppel Group (Singapore), to develop two housing projects in Thu Duc City, which are expected to offer over 200 low-rise houses and 600 apartments in the future. KDH continued to conduct business of the remaining units in The Classia linked villas project (houses and pink books have been handed over to residents since 2022). By the end of 2023, 95% of the products have been sold.
In particular, KDH also successfully launched The Privia project in Binh Tan District, including over 1000 apartments, and having the sufficient conditions document to sell future-formed houses from the competent authority, creating trust in customers, achieving impressive transactions, and becoming a highlight in the market.
On that basis, KDH achieved positive business results with net revenue of 2,088 billion VND and after-tax profit of 716 billion VND. This result is mainly contributed by The Classia project. The revenue and profit of The Privia will be recorded and reflected in the Group’s 2024 operating results.
Equity capital reached 15,523 billion VND, accounting for 59% of total capital sources, playing a key role in forming total assets. Debt to equity ratio is always kept below 1. Financial structure and liquidity ratios are all within safe limits.
The Classia receives many positive feedback on handover progress and quality
In 2024, KDH plans its business plan in the direction of sustainable and effective development. Specifically, KDH and Keppel Group will construct and put into business operation (expected in late 2024, when meeting the conditions as prescribed) two housing projects with a scale of 6 hectares and 5.8 hectares in Binh Trung Dong Ward, Thu Duc City (former District 2), HCMC. Besides, the Group will also complete the construction, handover the houses and start granting pink books for The Privia residents.
The Privia has been topped out and is in the finishing phase
According to the plan, KDH targets revenue for 2024 of 3,900 billion VND, after-tax profit of 790 billion VND.
In addition, the Congress also approved the dividend payment in 2024 at a rate of 10%.
