Dat Xanh Real Estate plans to hit US$220 million in sales in 2018

By Quynh Chi - Feb 25, 2018 | 10:23 AM GMT+7

TheLEADERDat Xanh Real Estate Service & Construction Corporation plans to increase its charter capital by nearly VND850 billion (roughly US$37.47 million) to finance the long-term portfolio of real estate projects.

Dat Xanh Real Estate plans to hit US$220 million in sales in 2018
Gem Riverside project has 3,175 apartments.

According to the report just sent to the shareholders meeting, Dat Xanh Real Estate Service & Construction Corporation (Dat Xanh) has set a sales target of VND5,000 billion (roughly US$220 million) this year, up 73.66 per cent compared to 2017. The group also expects to raise its after-tax profit by 42.23 per cent compared to last year to reach VND1,068 billion (roughly US$24.23 million).

Dat Xanh targets a strong growth in revenue and profit, which is based on the list of dozens of real estate projects greatly being invested.

Dat Xanh has implemented 16 direct investment projects such as the Sai Dong residential project in Long Bien, Hanoi with the total investment capital of VND824 billion (roughly US$36,324 million) and a VND8,818 billion (roughly US$388.7 million) project located in Cam Lam district, Khanh Hoa province.

Both projects of which the project in Cam Lam has an area of nearly 172 hectares and is divided into 5,444 land plots are expected to be completed in 2020.

The remaining projects are located in the districts of Ho Chi Minh City. The largest project is 3,165 apartment unit Gem Riverside located in district 2 with a total area of 67,143 square meters and a total investment of VND6,042 billion (roughly US$266.3 million).

Many projects have the total investment capital of more than VND1,000 billion (roughly US$44 million) such as Lux Riverview project with 769 units in district 7, Gem Premium project with 2,630 units, Opal City project with 2,226 units, Opal Riverview project having 774 units, Pho Mo project with 1,143 units in Thu Duc district and The Palm City project with 215 townhouses and villas in district 9.

Besides, Dat Xanh has been implementing 22 investment and corporation projects, many of which are expected to be completed this year. Hoang Van Thu apartment project located in Hoang Mai district, Hanoi has the total area of over 21,000 square meters and the Hanoi Homeland project with 1,224 units has been built on the area of more than 17,000 square meters.

Dat Xanh also cooperates to invest in a number of residential land plot projects such as the urban area along the Tac river and Hoang Long urban area, Nam Song Cai urban area in Khanh Hoa province, three land plot projects in Lien Chieu district, Danang and two apartments and villas projects in Nam Tu Liem district, Hanoi.

In 2018, Dat Xanh group plans to increase its charter capital from VND3,031.9 billion (roughly US$133.65 million) to VND3,850.5 billion (roughly US$169.74 million) in two phases.

In the first phase, 39,392,541 shares would be issued to pay dividends for 2017 and raise the charter capital by VND393.8 billion (roughly US$17.36 million). It would also issue 7,500,000 preference shares to employees to raise its charter capital by VND75 billion (roughly US$3.3 million).

In the second phase, an additional amount of 34,982,517 shares will be issued to pay dividends for 2018 and raise the charter capital by VND349.8 billion (roughly US$15.4 million).

Dat Xanh group reveals that it would promote the acquisition and accumulation of real estate projects having prime locations with complete legal clarity in order to prepare for the medium and long-term strategy of the company.