Vietnam's leading IP developer KBC eyes 7-fold profit hike in 2025
Kinh Bac City Development Holding Corporation (HoSE: KBC), a leading industrial real estate developer in Vietnam, targets a consolidated net profit of VND3.2 trillion ($125.5 million) this year, a sevenfold increase from 2024.
The company also aims for VND10 trillion ($392.4 million) in consolidated revenue in 2025, triple that of last year, according to its plan for the first extraordinary AGM of 2025.
Que Vo Industrial Park developed by KBC in Bac Ninh province, northern Vietnam. Photo courtesy of the firm.
Explaining its ambitious targets, KBC stated that since early 2025, it has seen positive legal progress in its under-construction industrial parks.
The company expects to lease a total area of over 200 hectares, with contributions from ongoing projects such as Nam Son Hap Linh Industrial Park, Hung Yen Industrial Cluster, and Trang Due 3 Industrial Park, all located in the northern region.
Additionally, KBC anticipates revenue from several social housing projects, including EverGreen and Trang Due, both in the north.
The Trang Cat urban area project in Hai Phong city has completed land compensation and obtained key legal approvals. Meanwhile, the 466-hectare Loc Giang-Long An Industrial Park in the southern province of Long An is under construction after partial land compensation. Both projects are expected to contribute to business operations this year.
Kinh Bac currently owns 6,600 hectares of industrial land in Vietnam, or 5.09% of the country's total. In 2024, KBC posted a consolidated net profit of VND450 billion ($17.6 million) and consolidated revenue of VND3.33 trillion ($130.8 million), meeting only 11.5% and 37% of its targets, respectively.
KBC shares opened Tuesday at VND29,500 ($1.15) each.
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