On June 27, 2025, Hung Thinh Incons (HTN) organized its Annual General Meeting of Shareholders for 2025.
In response to a shareholder’s question regarding the impact of Hung Thinh’s three-year debt situation on HTN and its financial health in 2025-2026, the presiding panel shared that the two years of the Covid-19 pandemic had brought the entire construction industry to a standstill. Many businesses, including construction companies, had to cease operations.
Post-pandemic, the market faced new challenges in the bond market, resulting in increased borrowing costs, especially for real estate businesses.
Hung Thinh is committed to restructuring. As of now, the company has reduced its interest-bearing debt by approximately 65%, leaving only a third of its previous debt. The construction unit within the ecosystem – Hung Thinh Incons (HTN) – has also almost fully repaid its bonds, with only small construction debts remaining.
As the government pushes for investment in affordable housing, Hung Thinh is actively engaging with relevant authorities to develop support mechanisms for the company to participate in social housing projects (SHPs) and access effective preferential policies.
Moving forward, Hung Thinh will collaborate with HTN to develop a 40-hectare SHP project in Binh Chanh. HTN is qualified to be assigned land and act as the project owner.
Additionally, within just a year, the local government has rapidly merged various provinces. This presents a significant opportunity as many of Hung Thinh’s projects were previously located in the old provincial centers, which are now part of the new provincial centers. For instance, Binh Dinh is now the new center of Gia Lai province, with a doubled population, leading to increased demand for housing and infrastructure. Ho Tram has also been incorporated into Ho Chi Minh City, where Hung Thinh holds a substantial land fund.
The shareholders’ meeting approved HTN’s business plan, with consolidated revenue of over VND 3,220 billion and consolidated after-tax profit of nearly VND 99 billion.
The General Meeting of Shareholders also approved the decision to not pay dividends, and all remaining profits will be used to supplement working capital for business activities and the Company’s financial resources.
Hundreds Queue for Miles to Secure a Spot in the City’s Hottest New Affordable Housing Project
Amidst the scorching sun, a long queue of eager prospective homeowners formed for the An Trung social housing project in Son Tra District, Danang. Dedicated to securing their chance at this opportunity, many had camped overnight, starting from the evening of June 29th, all to be among the first in line to draw their submission number for application dossiers.
Why Do Social Housing Prices Tend to Rise?
The social housing prices in Hanoi are on an upward trend, with some projects reaching an unprecedented price range of 26-27 million VND per square meter. This poses a challenge for low-income earners, for whom this housing segment is intended. Addressing this issue is imperative to ensure that affordable housing remains accessible to those who need it most.
Unlocking Affordable Housing: The Power of Targeted Credit
“There is a focused effort to direct credit towards affordable housing, as confirmed by Ms. Ha Thu Giang, Director of the Credit Department for Economic Sectors at the State Bank of Vietnam. She highlights that the banking sector is employing multiple strategies to prioritize credit flow and implement comprehensive solutions to help young people achieve homeownership.”
Livehouse – The New-Gen Real Estate Model: Alleviating Urban Price Pressures
In a challenging real estate market, where land prices are soaring and there’s a dearth of versatile models catering to evolving consumer needs, the Livehouse integrated product line emerges as a novel solution. This innovative offering strikes a delicate balance between functionality and affordability, presenting a flexible option that doesn’t compromise on cost-efficiency.
Unveiling the Pioneer: A Collaborative Venture for Residential Development in Duc Hoa
The three industry giants, Thang Loi Group, Go An Cuong, and Central, have formed a groundbreaking strategic partnership in the real estate sector. This dynamic trio aims to create affordable and accessible homes for Vietnamese families, with their first collaborative project being The Win City, a high-rise urban development at the northwestern gateway to Ho Chi Minh City.
