According to ICN, the project, named CONAC GARDEN, is built on a 34,2601m² plot of land, located in Phu My Ward, Ho Chi Minh City (formerly My Xuan Ward, Phu My City, Ba Ria – Vung Tau Province).
The total investment capital is 850 billion VND, with the investor contributing 20% (170 billion VND) and the remainder sourced from mobilized capital.
The development comprises a 15-story apartment building with 1 rooftop, standing at 55m tall, and 4-story townhouses with 1 rooftop, reaching 13.7m in height. The project offers approximately 1,200 apartments ranging from 25-65m² and 34 commercial townhouses (5x16m). The expected population is 3,200 residents.
Rendering of the CONAC GARDEN social housing project
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In August, ICN received the Investment Registration Certificate for the expanded My Xuan B1-CONAC Industrial Park project in Phu My City. The project spans 110 hectares with a total investment of 1,988 billion VND.
In the first half of this year, ICN reported an after-tax profit of nearly 144 billion VND, a 71% increase compared to the same period last year. Accumulated profit as of June 2025 reached 327 billion VND, with a charter capital of 204 billion VND. Total assets amount to 1,287 billion VND, with liabilities of 757 billion VND, primarily consisting of unearned revenue exceeding 603 billion VND.
For 2025, the company targets 440 billion VND in revenue and other income, a 32% decrease from the previous year, and an after-tax profit of 150 billion VND, down 38%. The planned dividend rate is 20%. Meanwhile, the total investment value for 2025 is set at nearly 808 billion VND, 29 times higher than the previous year.
At the Annual General Meeting, shareholders approved adjusting the total investment for the expanded My Xuan B1-CONAC Industrial Park to not exceed 2,325 billion VND. Additionally, the investment for the commercial and residential center in the North Chau Giang Urban Area, Phu Ly City, was increased to not surpass 500 billion VND.
– 11:16 09/10/2025
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