It is noteworthy that according to a report by Saigon-Hanoi Securities JSC (SHS), TAL has consistently expanded its land bank through various forms during the 2020-2025 period.

TAL boasts a massive land bank thanks to a series of impressive bidding, auction, and M&A deals. The company won bids for large-scale projects such as Duy Tien, Me Linh, Nam Song Cau, and Huong Mac urban areas, ranging from over 10 hectares to over 100 hectares, along with two industrial parks spanning more than 200 hectares.

Additionally, TAL won auctions for prime land plots ready for immediate development, including Long Bien Central, Thai Nguyen Walking Street, and Central Square Pho Yen. Taking advantage of the market lull during the Covid-19 pandemic, the company also seized M&A opportunities for potential projects such as Pulchra Resort Danang, Landmark 55, Bao Ninh, and an international four-season project.

As a result of this strategy, TAL’s land bank skyrocketed from 70 hectares in 2020 to an impressive 950 hectares by 2025, a fourteen-fold increase in just five years.

Central Riverside Thanh Hoa project by Taseco awaits its harvest season.

TAL is now entering a growth phase with a series of projects expected to bear fruit in 2025. According to the securities firm, out of more than 20 ongoing projects, six are eligible for business operations this year. These include three projects carried over from 2024 (Central Riverside Thanh Hoa, Central Park Nghi Son, and Central Square Pho Yen) and three new launches (Long Bien Central, Dong Nam To Huu Residential Area, and Dong Van 3 Industrial Park – East).

For the Dong Van 3 Industrial Park alone, TAL has signed memorandums of understanding with secondary investors for nearly 60 hectares, with many customers transitioning to deposit contracts, awaiting infrastructure completion and handover in Q4 2025.

From 2026 onwards, TAL’s business portfolio will be enhanced with key projects such as the Duy Tien Urban Area in the administrative center, Thai Nguyen Walking Street, Pulchra Resort Danang, Taseco Bao Ninh, and Landmark 55.

SHS forecasts that TAL’s real estate segment will experience a significant surge in the 2025-2027 period, with revenues of VND 3,807 billion to VND 7,723 billion to VND 8,027 billion and after-tax profits of VND 744 billion to VND 1,725 billion to VND 1,531 billion, respectively. This growth is mainly driven by Central Riverside Thanh Hoa, Dong Van 3 Industrial Park, Long Bien Central, and Dong Nam To Huu Residential Area.

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