In the report at the Shareholders’ Conference, Mr. Pham Thieu Hoa – Chairman of Vinhomes’ Board of Directors, informed that in 2023 , despite the real estate market continuing to face many challenges, thanks to the company’s sensitivity in seizing market opportunities, Vinhomes has achieved and exceeded its 2023 business targets.
Overview of the Vinhomes Shareholders’ Conference.
Specifically, the consolidated net revenue of Vinhomes in 2023 reached 103,557 billion VND, recording a positive growth of 66% compared to 2022. The consolidated net revenue (including revenues from Vinhomes’ operations, business cooperation contracts (BCC), and real estate transfer recognized in financial revenue) reached 121,357 billion VND, exceeding the plan by 21% and increasing by 49% compared to 2022. Post-tax profit exceeded the plan by 12% and increased by 15% compared to 2022, reaching 33,533 billion VND.
Mr. Hoa said that in 2024, Vinhomes plans to achieve a business revenue of 120,000 billion VND and post-tax profit of 35,000 billion VND, respectively increasing by 16% and more than 4% compared to the actual results of 2023.
At the conference, sharing about the 2024 business plan, Ms. Nguyen Thu Hang – General Director of Vinhomes Joint Stock Company, said that in the context of the real estate market’s strong recovery, Vinhomes’ business situation and launch of new projects are also proceeding favorably.
Specifically, in March 2024, the Company introduced the 877-ha Vinhomes Royal Island Imperial City project, which is located entirely on Vu Yen Island, Hai Phong. With the “unique” advantages in terms of location, planning, design, and amenities, it opens up an international-class luxurious living space. In less than a month after its launch, Vinhomes Royal Island has attracted nearly 12,000 visitors, including nearly 2,000 customers who have placed orders.
In addition, low-rise subdivisions of Vinhomes Ocean Park 2-3, as well as apartment buildings in Vinhomes Ocean Park, Vinhomes Smart City, and Vinhomes Grand Park, which are jointly developed by Vinhomes and secondary investors, are still the most popular products in the context of持續 positive demand for housing.
In particular, Vinhomes has launched a uniquely planned retail real estate product in the Grand World subdivision of the Ocean City mega-project (Vinhomes Ocean Park 1, 2, and 3), which has quickly made a mark on the North’s destination map, welcoming nearly 100,000 visitors per weekend on average for the experience.
Continuing the success of The Venice subdivision in this complex, Ms. Hang said that on April 26, Vinhomes will open the K-Town subdivision with 343 shops designed in a distinctly Korean style, completing the puzzle of the unique Grand World entertainment – shopping complex in the North.
In parallel with its efforts to increase sales, the Company is also striving to improve its distribution channels to seize new market opportunities, following the “three-pillar” approach of self-distribution, a system of agents, and an O2O business platform. All three channels are being strengthened and supplemented with resources, ready to seize opportunities and create new sales records.
At the same time, the Company is also continuously adding new utility projects such as a 30-story office tower with a maximum of 4 basement floors at Vinhomes Ocean Park 3, a 300-bed inpatient Vinmec hospital at Vinhomes Grand Park, and a 130-bed inpatient facility at Vinhomes Ocean Park 2, upgrading the 36ha park at Vinhomes Grand Park and amenities at Vinhomes Golden Avenue, along with sports fields, shopping and entertainment areas, etc., bringing exclusive superior standards only available in Vinhomes urban areas.
According to Ms. Hang, key projects such as Ocean City, Vinhomes Royal Island, etc., are expected to be the growth drivers for the company in 2024 and the following years. The Company also aims to launch new mega-projects this year and gradually implement social housing projects, aiming to realize the dream of “settling down” for millions of working people.
Shareholder: In 2024, which projects will contribute significantly to the company’s revenue, and what will Vinhomes’ development plan for upcoming projects be?
Mr. Le Tien Cong – Chief Accountant of Vinhomes: The 2024 sales plan continues to increase to 120,000 billion VND. The revenue mainly comes from Vinhomes Ocean Park 2-3, Vinhomes Royal Island Hai Phong, and several large projects to be implemented in the near future.
The Company assesses that the demand for housing in Vietnam is very high, with Vietnam’s population growing rapidly and a high urbanization rate. Based on such factors, Vinhomes will continue to strongly develop products and community activities.
Shareholder: Why did the Company not issue international bonds in 2023?
Ms. Nguyen Thu Hang – General Director of Vinhomes: In 2023, the global economic situation was not very favorable while domestic capital sources were abundant, so Vinhomes did not issue international bonds.
The Company’s business strategy always has a 5-10 year vision, and Vinhomes continues to aim to be the leading investor in Vietnam and in the region. The market research team will always design, research, and add utilities to ensure that the living value in the mega-projects is enhanced.
Shareholder: Previously, the Company announced the Vinhomes Co Loa and Vinhomes Dan Phuong projects. Could the Board of Directors please update the progress of these two projects so that shareholders are aware? Regarding social housing projects, when will the Company launch the two major projects in Hai Phong and Nha Trang?
Mr. Pham
