Vinhomes eyes 24 pct profit jump

By Minh Son May 16, 2021 | 08:22 pm PT

View of Vinhomes Central Park in Binh Thanh District, Ho Chi Minh City. Photo by Shutterstock/AJNguyen.

Vietnam’s biggest property developer, Vinhomes, targets a 24 percent increase in post-tax profit this year to VND35 trillion ($1.52 billion).

Major housing projects that would fetch revenues include Vinhomes Ocean Park and Vinhomes Smart City in Hanoi and Vinhomes Grand Park in Ho Chi Minh City, the company said in a statement.

The subsidiary of conglomerate Vingroup also plans to develop industrial real estate with the first projects to be launched in the northern city of Hai Phong where another Vingroup subsidiary, automaker VinFast, is based.

"Industrial real estate is set to be a pillar, contributing large and steady revenues to the company in future," the statement said.

The company plans to pay dividends by cash and shares at a rate of VND1,500 (6.5 U.S. cents) per share and 30 shares for every 100 owned.

Last year its post-tax profits were VND28.2 trillion after rising by 16 percent as it sold over 27,700 units of housing.