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Representatives of Van Phu – Invest and New Goldsun signing the contract for the transfer of a part of the The Terra – Bac Giang project.
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The Terra – Bac Giang project has a scale of 4.5 hectares, including 2 product areas. The first is a villa area of 28,182 square meters, comprising 66 single-detached villas that are 3 stories tall and have a 50% building density. The second is a mixed-use area of high-rise commercial and low-rise adjacent buildings, including: 43 adjacent lots ranging from 1,403 to 1,918 square meters per lot and 2 twin towers that are 28 stories tall (C-HH-01 belonging to the The Terra+ line and C-HH-02 belonging to the The Terra line) supplying the market with 688 apartments, with a designed population of 2,262 people.
The Terra – Bac Giang is considered one of the key projects of Van Phu – Invest in the current phase, expected to continue the success of the The Terra – An Hung project in Hanoi. The project’s highlight is the 28-story twin tower, which features a creative design that harmoniously and subtly blends tradition and modernity, incorporating various images symbolizing nature, geography, and local culture.
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Perspective of the The Terra – Bac Giang project
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In fact, in the second quarter of 2024, Van Phu – Invest began delivering the first villas at The Terra – Bac Giang, contributing to a revenue of VND 165 billion in the second quarter.
According to the set plan, in 2024, Van Phu – Invest aims for a revenue of VND 2,775 billion and a profit after tax of VND 350 billion. Therefore, the transfer of a part of the The Terra – Bac Giang project will be crucial in helping the company achieve its business plan and bring cash flow to Van Phu – Invest.
What is even more important is that the deal will significantly improve Van Phu – Invest’s financial situation. As of the end of June 2024, the company’s inventory had increased by 4% compared to the beginning of the year, reaching VND 3,857 billion, equivalent to 33.3% of total assets; at the The Terra – Bac Giang project alone, it reached VND 1,515 billion, an increase of 2.5%.
Thus, the transfer of a part of the The Terra – Bac Giang project will help Van Phu – Invest reduce inventory value, improve business cash flow, reduce borrowing, cut financial costs, and optimize profits. The company will also have the financial capacity to serve other investment, production, and business activities, especially the deployment of Vlasta Thuy Nguyen (Hai Phong) – one of the key projects of Van Phu – Invest in the current period, which is expected to bring a breakthrough in the near future.
In the current phase, as the real estate market shows positive signs of recovery, Van Phu – Invest continues to promote M&A activities and explore potential auction projects to increase its land fund as a source of projects for the following years, creating momentum for sustainable development in line with its 10-year development strategy (2023 – 2032).
With its far-sighted vision, well-established business strategy, and stable corporate foundation, Van Phu – Invest is expected to have the opportunity to grow stronger and become a reputable mid-range real estate developer in Vietnam.
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