Quarterly Sales Report Q2 2024: Significant Growth Attributed to Vinhomes Royal Island Project
According to SSI, Q2 2024 witnessed a remarkable recovery for Vinhomes, with sales revenue reaching VND 35.5 trillion, a 42.6% increase from the previous year and a 119% surge compared to the previous quarter. Notably, 53% of the sales revenue was contributed by individual buyers, while 47% came from bulk sales to secondary investors.
Vinhomes Royal Island, a standout project, accounted for 78% of the total sales value in Q2 2024, amounting to VND 27.7 trillion. This project spans 877 hectares on Vu Yen Island in Hai Phong city, encompassing 136 hectares of commercial land for 8,324 low-rise units. Since its launch in late March, Vinhomes has sold 4,567 units (54.9% of total inventory) as of the end of Q2 2024, generating over VND 41.7 trillion in sales revenue. The rapid sales pace within just over three months signifies a recovery in the Northern real estate market.
Vinhomes Royal Island: A Prestigious Project by Vinhomes
Upcoming Launch of the Highly Anticipated Vinhomes Global Gate (Vinhomes Co Loa)
In late July 2024, Vietnam Exhibition Fair Center JSC (VEF: Upcom), a subsidiary of Vingroup and the investor of Vinhomes Co Loa, submitted an Environmental Impact Assessment Report to the Ministry of Natural Resources and Environment (MONRE) for approval. On August 30, VEF commenced construction of the National Fair and Exhibition Center, adjacent to Vinhomes Co Loa, spanning an area of 90 hectares.
On September 6, VEF hosted a project introduction event for real estate brokers and officially granted distribution rights, signaling an upcoming sales launch. With a total area of 385 hectares, the project comprises over 4,100 low-rise units (villas and townhouses) and 12,600 high-rise apartments, offering 42.5 hectares of commercial land (34.9 hectares for land plots and 7.59 hectares for apartments).
Amidst market speculation, the launch price of land plots in Vinhomes Co Loa is expected to range from USD 10,000 to USD 15,000 per square meter.
Vinhomes Global Gate: A Promising Project in Hanoi’s Recovering Real Estate Market
Share Buyback Plan of up to 370 Million Shares
On August 7, 2024, Vinhomes announced a plan to buy back up to 370 million shares, equivalent to 8.5% of the total outstanding shares of the company. The estimated total value of the share buyback is VND 15.91 trillion, based on the closing market price of VND 43,000 per share on September 13, 2024.
The Real Estate Market Awaits the Vinhomes Global Gate Project
Information about the Vinhomes Global Gate project (the official name of the Vinhomes Co Loa project in Dong Anh, Hanoi) is creating a stir in the property forums, fueling investors and customers alike to gear up for this highly anticipated project of 2024.
“Vinhomes Shareholders Approve Repurchase of 370 Million VHM Shares, Market Capitalization Surges by VND 40,000 Billion in Just One Month”
Vinhomes will purchase its shares immediately after gaining approval from the State Securities Commission for its share buyback scheme.
The Hoarding Property Moguls: A Deep Dive into the Risky World of Real Estate Speculation
As of Q2 2024, Novaland, Khang Dien, Nam Long, and Quoc Cuong Gia Lai are among the real estate companies with tens of thousands of billions of Vietnamese dong in inventory, accounting for more than half of their total assets.
“Vingroup Repays Over $900 Million in International Convertible Bonds”
According to Vietcap Securities, aside from VinFast, most of Vingroup’s subsidiaries are self-sufficient and capable of meeting their debt obligations and sustaining their business operations.
