Vinhomes will hand over at least 11,000 apartments in the fourth quarter, with plans to open for sale until 2022
VietReader 3-11-2020, 15:00


Vinhomes will hand over at least 11,000 apartments in the fourth quarter, with plans to open for sale until 2022

According to KB Vietnam, the handover progress of Vinhomes will continue to be maintained in the fourth quarter of 2020 with at least 11,000 apartments handed over, expected to exceed the previously set plan of 21,000 apartments to be handed over in second half of 2020.

Vinhomes will hand over at least 11,000 apartments in the fourth quarter

KB Vietnam Securities has just released a report evaluating business results of Vinhomes (Code: VHM) in the first 9 months of the year. Accordingly, in the first 9 months of the year, Vinhomes’ revenue (including business cooperation contracts (BCC) and wholesale revenue at the Ocean Park project) reached VND 62,565 billion, up 19% over the same period.

In which, revenue from real estate transfer of Vinhomes in 9 months reached 59,993 billion VND, up 20% compared to the first 9 months of 2019. Parent company’s after-tax profit reached 16,337 billion VND, up 7%.

Regarding sales activities, in the third quarter of 2020, Vinhomes sold more than 3,000 apartments to retail customers with a total contract value of 10,500 billion VND.

In the third quarter, Vinhomes handed over 10,800 apartments, villas and townhouses, of which three megacities account for about 96%. It is expected that the handover progress will continue in the fourth quarter of 2020 with at least 11,000 units handed over, expected to exceed the previously set plan of 21,000 apartments to be handed over in the second half of 2020.

In the first 9 months of the year, Vinhomes has sold 25,100 apartments with a total contract value of 47,900 billion VND. The total value of contracts signed and unrecognized accumulated revenue by the end of the third quarter of 2020 reached 82,800 billion dong.

Plan to launch new projects of Vinhomes

Regarding the plan to launch new projects, Vinhomes will delay the opening of the Wonder Park project to 2021 instead of at the end of 2020 as planned.

The delay of the Wonder Park project sale opening time to optimize the project’s selling price and will not affect Vinhomes’ 2020 revenue and profit plan, the KB Vietnam report stated.

In 2021, Vinhomes will continue to improve the legal requirements for two major projects Ha Long Xanh (4,109 ha) and Long Beach Can Gio (2,870 ha) to open for sale in 2022.

Source: vietnambiz.vn – Translated by fintel.vn

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