TIẾNG VIỆT Vinhomes’ 2020 after-tax profit expected at $1.3 billion, up 27% from 2019
A Vinhomes apartment complex seen in Binh Thanh District, Ho Chi Minh City. Photo by Shutterstock/Le Minh Ty.
The subsidiary of Vietnam’s largest private conglomerate Vingroup plans to propose no dividend for 2019 during the annual general meeting of shareholders to be held on May 29.
In order to realize the profit target, Vinhomes plans to build sales staff to work with the network of tens of thousands of agencies. The developer will also promote the deployment of online sales systems.
Vinhomes will also develop industrial real estate in big cities including Hai Phong, Hai Duong, Quang Ninh to for stable income.
The developer expects that industrial park development brings it opportunities from favorable macroeconomic conditions and the growing FDI inflow to Vietnam.
For office leasing, the company reported a high occupancy rate in Hanoi and Ho Chi Minh City, respectively 93% and 97%. Increasing inflows of FDI into Vietnam have led to an increase in office demand.
► Vingroup sets 2020 profit target at 4-year low to $214mln, 35% less than 2019
