AGMs reveal ambitious real estate investments

Several developers have unveiled ambitious plans based on the recovery in the market Photo: Le Toan

At its recent AGM, Hoang Quan Consulting, Trading and Real Estate Services JSC (HQC) announced ambitious plans to double the company’s charter capital to VND4 trillion ($190 million) this year.

This year’s revenue and post-tax profits are expected to see a 10-fold increase compared to 2014.

Truong Anh Tuan, chairman and general director of HQC, said his company’s profits in 2015 would mainly come from large projects, and the targets were viable.

This year, the company will implement 15 projects in 12 provinces and cities and put large key projects into use, such as HQC Plaza, HQC Hoc Mon, Can Tho City’s Tuong Thach residential area, and HQC Royal Tower. It is also slated to complete the first building phase of Mekong Delta University.

Among those, the HQC Plaza Nguyen Van Linh was expected to bring turnover of VND1.2 trillion ($57 million) alone.

The company will also strengthen investment in social housing projects this year. Fifty per cent of this year’s revenue and profits will come from social housing projects.

Hoang Quan plans to complete infrastructure and build more workshops for lease to attract more investors at its Binh Minh-Vinh Long and Ham Kiem-Binh Thuan industrial parks. They aim for an occupancy rate of 50 per cent at the two parks.

The company also intends to pick up good value deals in property, finance and education sectors.

Phat Dat Real Estate Development Corp (PDR) also announced plans to offer 65.1 million shares to increase its registered capital from VND1.3 trillion to VND2 trillion ($61.9 to $95 million). These funds will support the corporation’s operations in the second quarter of 2015.

PDR chairman and CEO Nguyen Van Dat said after the capital increase is completed, the corporation will invest and develop a serviced commercial and residential complex covering 10,000 square metres in central Ho Chi Minh City.

PDR acquired a project from Duc Khai Joint Stock Company at District 5 in Ho Chi Minh City at the end of last year.

PDR will invest some VND1.4 trillion ($66 million) to invest in the EverRich Residence, which is expected to open up sales in the second quarter of 2015.

Joining the trend are FLC, CEO and Thao Dien. FLC Group Joint Stock Company at its AGM held earlier this year, also released its plan to issue 465 million shares to increase its registered capital from VND3.7 trillion to VND8.3 trillion ($176 to $395 million).

FLC chairman Trinh Van Quyet said that the capital increase would enable FLC to carry out many investment projects, including FLC Sam Son and Khanh Hoa Administrative Centre.