Làm hơn 200 căn nhà liền thổ và 600 căn hộ chung cư, dự kiến chi 10.200 tỷ đồng
The real estate company Khang Dien (ticker: KDH) plans to complete the construction, handover, and issuance of pink books for residents at The Privia apartment project in Binh Tan district, Ho Chi Minh City, according to the annual General Meeting of Shareholders documents for the year 2024.
The Privia Project
In November 2023, the company successfully sold all 1,043 apartments in The Privia project. The project is currently in the final stage and is expected to hand over the apartments in the fourth quarter of this year. The project’s business results will be reflected in the company’s 2024 activities.
The project has a total area of 1.84 hectares with 1,043 apartments. The average size of the apartments in this project is 60 square meters, with an estimated selling price of about 50 million VND per square meter.
Tiến độ dự án Emeria của Khang Điền và Keppel trong tháng 2/2024.
Future Projects
In addition to The Privia project, Khang Dien is also planning to develop two other projects, Emeria and Clarita, with the Singapore-based company Keppel in Binh Trung Dong Ward, Thu Duc City, Ho Chi Minh City. Once the conditions are met, these projects are expected to be put into operation by the end of this year.
These two projects were started at the end of last year. Keppel and Khang Dien are jointly developing over 200 landed houses and 600 apartments on a total area of approximately 11.8 hectares. The total development cost for the Emeria and Clarita projects is estimated at about 10,200 billion VND, including land costs.
Khang Dien plans to sell approximately 160 low-rise products in the Clarita project. The apartments in this project are priced between 150 million VND and 180 million VND per square meter.
Future Plans and Financial Outlook
KDH also mentioned that it will continue to complete compensation, site clearance, and legal procedures for its existing projects in Ho Chi Minh City. At the same time, the company is preparing to commence construction and business operations in the coming years.
According to Rong Viet Securities (VDSC), Khang Dien’s projected revenue for this year is expected to reach 4,700 billion VND, a 125% increase compared to 2023, mainly from the handover of The Privia project.
The company’s after-tax profit could reach 981 billion VND, a 37% increase compared to 2023, with a net profit margin of 21%. This is because The Privia project consists of high-rise products that have a lower profit margin compared to low-rise products.
KDH plans to present its business plan for 2024 to shareholders, with projected revenue of 3,900 billion VND, an increase of nearly 87% compared to the actual performance in 2023. The expected after-tax profit is 790 billion VND, equivalent to a growth rate of 10%.