Project hand-over progress of real estate companies in the third quarter

Nam Long, TTC Land announced many handing over in this third quarter, in which TTC Land expects whole year profit exceeded 13% over the plan while Novaland pulls their projects into the fourth quarter.

Nam Long Investment Joint Stock Company (Stock code: NLG): In August, the company completed, handed over and put into operation 234 Flora Kikyo apartments located in District 9, 03 months before the deadline (committed deadline is in October).

This is continuously the third completed project between Nam Long and two Japanese strategic partners Nishi Nippon Railroad Group and Hankyu Hanshin Group.

It is estimated in this handing over, more than VND 320 billion revenue will be recorded in the joint venture.

A part of Flora Kikyo

Recently, Nam Long also handed over 44 Valora Island villas in Mizuki Park. It is expected in October the company will hand over 33 townhouses.

From now to the end of the year, Nam Long expects to hand over 900 EhomeS apartments in Saigon South. This project consists of 6 blocks with roof top. The company firstly handed over 4 blocks to resident to settle down.

Handing over the project is part of Nam Long's revenue and profit plan in this year. According to the report of Viet Capital Securities Joint Stock Company (VCSC), Nam Long will record about VND 280 billion and VND 110 billion profit after tax for the transfer of Waterpoint and Akari City projects in the second half of the year. In the period from 2019 to 2020, the report estimates that the remaining profit after tax of VND 900 billion will be from the sale of shares in Mizuki Park, Akari City and Waterpoint.

Particularly for 2018, the company raised its profit target from VND 614 billion to VND 870 billion in equivalent with an increase of 42%. This adjustment is based on the cooperation with Japanese partners to implement phase 1 of Waterpoint project, Long An in the area of 165 hectares instead of the original 52 hectares.

Regarding of Sai Gon Thuong Tin Real Estate Joint Stock company (TTC Land – Stock code: SCR), the third quarter is considered as the "launching" phase with the handover and record of profit from the projects including: Jamona Home Resort (Thu Duc District), Jamona City (District 7), Jamona Golden Silk (District 7) and Charmington La Pointe (District 10). Thanks to handover of many projects, TTC Land expects profit of VND 280 billion this year with 13% increase over the target.

A part of the Jamona Sky Villas project

In September, the company plans to launch a high-end apartment project in district 7 commercially named Jamona Sky Villa. This is the apartment for the upper class with a total area of about 13,000 m2, two blocks with 8 floors with 210 apartments. The selling price ranges from VND 6 to 10 billion/ apartment.

In the coming time, TTC Land also would record revenue from Carillon 5 project (Tan Phu), which is about to be handed over to customers.

This third quarter has not been the peak season yet, Nova Real Estate Investment Corporation (Novaland – Stock code: NVL) announced the roof topping and handing over six tower blocks among the total of eight towers of the project The Sun Avenue (District 2).

The Group has completed many projects ready for being handed over in the fourth quarter, including The Sunrise City View (District 7), Newton Residence (Phu Nhuan District), Sunrise Riverside (District 7), Orchard (District 2), Botanica Premier (Tan Phu district), etc. For project Golden Mansion (Phu Nhuan district), Novaland has handed over the low-rise area, roof topped the high-rise area and expected handing over in the fourth quarter.

In the first Quarter of 2019, this Group plans to hand over Saigon Royal project (District 4).

Source: Khong Chiem/NDH