Vinhomes targets record-high revenue of $4.3 bln in 2023

By Vuong Anh

Wed, April 19, 2023 | 9:47 am GMT+7

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.

A Vinhomes project in HCMC. Photo Courtesy of the company.

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.

Tags:

Comments (0)

Latest|Most liked

Tags:

Malaysia, S Korea resume FTA talks

Malaysia and South Korea are set to hold their seventh round of negotiations for a bilateral free trade agreement (FTA) as they look to expand their trade portfolio and strengthen cooperation, according to the latter's Ministry of Trade, Industry and Energy.

Southeast Asia - Mon, February 17, 2025 | 5:23 pm GMT+7

Indonesia to launch new sovereign wealth fund this month

Indonesia will launch a new sovereign wealth fund called Danantara this month, with an initial capital of around $20 billion.

Southeast Asia - Mon, February 17, 2025 | 5:19 pm GMT+7

Singapore's Billion Union builds $70 mln fabric factory in Vietnam

Hong Kong-invested Thanh Hoa Billion Union Textile kicked off the construction of a $70 million factory in Vietnam’s central province of Thanh Hoa on Monday.

Industries - Mon, February 17, 2025 | 5:04 pm GMT+7

Vietnam’s construction ministry plans real estate exchanges for improved transparency

The Vietnamese Ministry of Construction is advancing a plan to establish real estate exchanges, similar to the stock market, in a bid to enhance transparency and efficiency in property transactions.

Real Estate - Mon, February 17, 2025 | 4:57 pm GMT+7

Vietnam plans to increase electricity imports from China, Laos by 2030

The Vietnamese Ministry of Industry and Trade (MoIT) aims to raise electricity imports from China and Laos by 3,000 MW and 2,500 MW by 2030, over 5 times and nearly 1.6 times higher than those stated in the current Power Development Plan VIII (PDP VIII), respectively.

Energy - Mon, February 17, 2025 | 4:14 pm GMT+7

Vietnam urges Turkish contractor to speed up mega Long Thanh airport's terminal construction

Türkiye-based IC ICTAS, the lead contractor of the passenger terminal within the under-construction Long Thanh International Airport, should speed up the construction of the package, said Vietnamese Deputy Prime Minister Tran Hong Ha.

Infrastructure - Mon, February 17, 2025 | 3:27 pm GMT+7

Vietnam tech giant FPT to provide high-quality AI human resources

With the groundbreaking of an inter-level school on Sunday, FPT Corporation is completing its education system from elementary to university levels in the south-central province of Binh Dinh, to provide high-quality human resources, particularly in AI.

Companies - Mon, February 17, 2025 | 11:32 am GMT+7

Japan pneumatics firm SMC to start $330 mln Vietnam expansion from July

SMC Manufacturing Vietnam, under Japanese pneumatic instrument producer SMC, aims to start its $330 million expansion in Vietnam from July.

Industries - Mon, February 17, 2025 | 10:47 am GMT+7

Institutional breakthroughs to provide solid foundation for heightened business confidence: economists

At a meeting of the National Assembly's Economic Committee in early February, the government proposed the 2025 GDP growth be "8% or more", instead of 6.5-7% set last November. The Investor introduces opinions of some leading Vietnamese economists on this proposed target.

Economy - Mon, February 17, 2025 | 8:02 am GMT+7

Vietnam consumer credit enters new growth cycle

After the decrease in consumer capital demand, negative growth, and peaking bad debts in 2023, Vietnam’s consumer financial market is entering a new growth cycle, backed by positive signs from the macroeconomic environment.

Finance - Sun, February 16, 2025 | 3:19 pm GMT+7

Vietnam property investors seek new opportunities in provincial markets

Real estate investors in Vietnam, both individuals and organizations, are shifting their investments from city centers to suburban regions and neighboring provinces where land remains abundant and significant investments are being made in infrastructure, particularly in transportation.

Real Estate - Sun, February 16, 2025 | 2:00 pm GMT+7