TTC Land sets the sales target of 3,500 products bringing about VND 3,000 billion net revenue in 2019

In 2019, TTC Land sets the target of net revenue and pre-tax profit reaching VND 3,000 billion and VND 340 billion, respectively. It mainly comes from projects including: TTC Plaza Binh Thanh, Jamona Home Resort, Jamona City, Carillon 5, Carillon 7 and Tan Van isle.

Carillon 7 project is invested by TTC Land

Specifically, in 2019, TTC Land expects to sell 3,500 products at 13 projects increasing 156% compared to 2018. Turnover from sales are expected to reach VND 8,826 billion, increasing 115% compared to VND 4,100 billion of 2018.

One of the key projects of 2019 is Charmington Plaza in District 5, HCMC. The project has a total investment of nearly VND 1,700 billion with a total constructing floor area of 69,427 m2, providing about 420 high-end apartments to the market.

The project is expected to open for sale at the end of the first quarter in 2019 and handed over in the first half of 2022 with a turnover of about VND 2,600 billion, equivalent to USD 114 million.

In addition, Da Nang Complex is one of the projects in the complex product chain Commercial center - Apartment - Hotel with a total floor area of nearly 122,000 m2 in Thanh Khe District, Da Nang City. It is expected to supply the market 4 commercial floors as well as 390 apartments, officetel and hotels.

The project is expected to be implemented in the second half of 2019 and handed over in 2021 with a total investment of over VND 2,000 billion. This is also an annual business project, expected to record annual revenue of about VND 150 billion.

In the end of 2018, net revenue and consolidated pre-tax profit of TTC Land reached VND 2,929 billion dong and VND 334 billion dong, increasing 61% and 21% compared to 2017 as well as exceeding the target by 41% and 8%, respectively.

Recently, TTC Land announced about contributing 100% capital to establish TTC Land Phu Quoc Real Estate Investment One Member Limited Company and TTC Land Rach Gia Real Estate Investment One Member Limited Company.

Previously, the People's Committee of Kien Giang Province approved the proposal to allow the company to invest in the Commercial center - Service - Tourism Complex project with a total area of 90 hectares in Phu Quoc. This project is part of the development plan of a resort real estate chain, accounting for about 10% of TTC Land's total land fund of 1,767 ha.

Source: Vietnam biz