Vinhomes, a subsidiary of Vietnam’s largest listed conglomerate Vingroup, will ask shareholders to approve a 2023 revenue target of VND100 trillion ($4.25 billion) and after-tax profit of VND30 trillion ($1.28 billion).
The target revenue is a record high, up 60% year-on-year, while the target after-tax profit is a 3% increase.
The firm, listed on the Ho Chi Minh City as VHM, aims to push sales of remaining apartments at Vinhomes Ocean Park 2 and 3 in Gia Lam district, Hanoi. It plans to launch new big urban area projects this year, depending on market conditions.
Vinhomes will continue opening two social housing projects named Happy Home for sale in Thanh Hoa and Quang Tri provinces. The firm will also complete the legal process to expand Happy Home to Hai Phong city, Hung Yen province and Khanh Hoa province. This is one of Vinhomes’ development focuses.
The developer is actively promoting investment activities to increase the occupancy rate of industrial real estate projects in Cat Hai district, Hai Phong city.
With the advantage of land funds, experience in project development and factors supporting industry growth, Vinhomes will also finish the legal process and build infrastructure for some industrial park (IP) projects this year.
The firm will research and applying modern industrial real estate models like smart IPs, ecological IPs, and large-scale specialized IPs, it said.
Vinhomes will hold its annual general meeting of shareholers on April 27.