Mr. Hung’s proposed transaction involves selling a significant portion of his shares, totaling over 1.3 million, which represents a 3.18% stake in the company. If the transaction is successful, his ownership will decrease to approximately 342,000 shares, reducing his stake to 0.81%.
This move by Mr. Hung comes as the NHA stock has been witnessing a strong upward trend since the beginning of 2024. On July 12, the stock closed at a price of 30,350 VND per share, reflecting a substantial 78% increase compared to the beginning of the year. With an average trading volume of over 725,000 shares per session, Mr. Hung is estimated to garner more than VND 30 billion from this transaction.
| NHA Stock Surges Since the Start of 2024 |
As of the end of March 2024, Mr. Nguyen Minh Hoan, the Chairman of the Board of NHA, was the largest shareholder, holding over 10 million shares, representing a 23.92% stake. The two Vice General Directors, Mr. Nguyen Hoang Dao and Mr. Nguyen Duc Kien (son of Mr. Hoan), owned 5.39% and 5.18% of the capital, respectively.
Source: NHA
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With the recent passage of the Land Law by the National Assembly, NHA may face challenges in land clearance for its projects. The new law, along with the Housing Law and the Real Estate Business Law, will come into effect on August 1, 2024, five months earlier than the previously decided date of January 1, 2025.
3 Real Estate Laws to Take Effect on August 1, 2024
Commenting on this development, the Chairman of NHA acknowledged that land clearance will become more arduous under the new Land Law, as it will be based on mutual agreement, resulting in higher compensation costs for residents, especially in urban and housing projects.
While there are aspects of the new laws that present challenges for the company, there are also benefits. Mr. Hoan acknowledged that while difficulties may arise, the company remains committed to complying with all regulations. He noted that while there may be challenges ahead, there is an immediate advantage in that several projects have already substantially completed land clearance. One such project is the Duy Tien central urban area project, which has already undergone 90% land clearance and has been temporarily handed over for construction.
Deputy Minister of Natural Resources: There will be 9 decrees implementing the provisions of the Land Law.
Deputy Minister of Natural Resources and Environment (TN&MT) Le Minh Ngan has revealed that there are expected to be 9 decrees issued to specify the details of the Land Law (amended).
New law enacted, does Condotel have a “status”?
After experiencing numerous ups and downs in the market, the condotel segment seems to still lack a clear “identity” with the passing of the Real Estate Business Law 2023 and the Land Law 2024.
Does the new law tighten speculation in real estate?
The Land Law, Housing Law, and Real Estate Business Law, which were recently passed, have many strict regulations that aim to gradually address negative issues such as speculation and wastage of land resources, according to experts.
Why businesses aren’t thrilled about paying annual rent?
According to the recently passed Land Law amendment, businesses that lease land on a lump sum basis can now switch to annual lease payment, but they are not enthusiastic about this regulation.
Clear Mechanism Needed to Encourage Effective Land Use by Businesses
Businesses are eagerly anticipating the implementation of the new Land Law. They also hope for clear and transparent mechanisms and policies that will encourage the efficient use of land resources.
