Vietnam property giant Nam Long eyes 35% profit hike for 2025 on strong housing demand

Nam Long Investment Corporation, a major real estate developer in southern Vietnam, aims to achieve a net profit of VND701 billion ($27 million) in 2025, up 35% year-on-year, driven by strong local housing demand.

Nam Long (HoSE: NLG) also targets VND6.79 trillion ($261 million) in net revenue and VND14.64 trillion ($562.8 million) in presales this year, nearly 2.8 times higher than in 2024.

Despite global volatilities, Vietnam’s recovering real estate market remains promising, fueled by high homebuyer demand, low interest rates, relaxed legal frameworks, and faster administrative procedures, NLG chairman Nguyen Xuan Quang told the company’s 2025 AGM on Saturday.

Nam Long will focus on strengthening sales and deliveries at existing projects in the south, such as Akari City, Waterpoint, Izumi City, EHomeS Can Tho, EHome Southgate, and Nam Long II Central Lake, he added.

The developer is expected to launch 2,000 new products across key projects while expanding into new potential locations.

Currently, the firm holds a land fund of 681 hectares across southern localities, including Ho Chi Minh City, Long An, Dong Nai, and Can Tho. It also plans to boost M&A activities and mobilize capital to optimize its resources.

This year, Nam Long plans to issue over 100 million shares through a rights offering at VND25,000 ($0.96) per share. The proceeds will be allocated to its subsidiaries, Nam Long Land and Nam Long Commercial, to support existing projects and repay loans.

Additionally, the firm is expected to borrow VND5.8 trillion ($223 million) to finance ongoing projects, according to NLG’s CFO, Eric Chan.

Regarding the Izumi urban project in Dong Nai province, Nam Long general director Lucas Loh said the company is in discussions with a partner interested in acquiring a 15% stake in the project.

In the first quarter of 2025, Nam Long recorded a net profit of VND108 billion ($4.15 million) on revenue of VND1.39 trillion ($53.49 million), a significant improvement from revenue of VND205 billion and a net loss of VND77 billion in the same period last year.