“Viglacera Considers Divesting from its Management Arm that Operates Gelex Tower, Capital Place, and Thang Long Number One.”

The Board of Directors of Viglacera Corporation – JSC (HoSE: VGC) has just approved a plan to renovate the organization and operations of its real estate segment.

Notably, Viglacera announced that it plans to divest from its subsidiaries, Viglacera Consulting JSC and Visaho JSC, at an appropriate time, while currently maintaining its ownership structure.

Visaho JSC was established in 2015 by four shareholders: Viglacera Corporation – JSC, Sankei Building Management Company under Japan’s Sankei Building Group, Hoang Thanh Infrastructure Investment and Development JSC, and OWI JSC.

Visaho has since become the management unit for several premium projects, including the Capital Place A+ office building, the high-end apartment complexes Swanlake Residences, The ZEI, Hoang Thanh Tower, and Thang Long Number One…

In addition to the planned divestment from its subsidiaries, Viglacera will also transfer the operations and functions of its Construction Company to the Infrastructure Development Investment Company and the operations and functions of its Mechanical Construction Company to the Infrastructure and Urban Development Company.

Simultaneously, Viglacera will innovate the organizational methods of the Infrastructure Development Investment Company and the Infrastructure and Urban Development Company following the transfer of the Construction Company and the Mechanical Construction Company. The new organizational models for these two companies will be implemented before December 31, 2025.

Viglacera has been involved in the real estate sector since 1998 and now owns 16 industrial parks in Vietnam and abroad. The company is also an investor in 18 residential areas and a 5-star resort.

This year, the company will focus on land sales and leasing in industrial parks such as Thuan Thanh, Phong Dien, Tien Hai, Dong Mai, and Song Cong II – Phase 2. Simultaneously, Viglacera is promoting surveys and proposing investment approval dossiers for a series of new industrial parks in many localities.

In terms of business performance, in the first six months of 2025, Viglacera’s net revenue reached VND 6,095 billion, up 13% over the same period in 2024. Notably, revenue from land leasing with developed infrastructure increased by 21% to VND 1,967 billion, and revenue from real estate sales increased by 84% to VND 132.8 billion.

After deducting expenses, the company recorded a post-tax profit of VND 839 billion, doubling that of the previous year.

As of June 30, 2025, Viglacera’s total assets reached VND 25,502 billion, an increase of VND 675 billion compared to the beginning of the year. On the liability side, the company’s total liabilities were VND 14,627 billion, a decrease of 2% compared to the beginning of the year.