Novaland to focus on housing

Novaland to focus on housing

Novaland analysts meet in HCM City. The company plans to spend  八0 per cent of its capacity to develop housing projects. — VNS Photo

HCM CITY — Novaland Group will continue to spend  八0 per cent of its resources on developing housing projects.

At an analyst meeting in HCM City recently, the company said the other  二0 per cent would be used to expand its tourism property projects in Cần Thơ, Bà Rịa – Vũng Tàu, Phan Thiết, Cam Ranh, Phú Yên, Bình Định, and Đà Nẵng.

It informed the analysts that it has  六. 五 million square metres of land, much of it in HCM City.

This year it is focusing on handing over to buyers  一 一 housing projects with  六, 七00 units, mostly in HCM City’s Districts  二,  七, Bình Thạnh, Phú Nhuận, Tân Phú, and Nhà Bè.

It targets after-tax profit of VNĐ 三. 二 trillion (US$ 一 四0 million) this year, up  五 五 per cent, on revenues of VNĐ 二 一. 八 trillion ($ 九 五 六 million), an  八 七 per cent rise.

In the first half of the year it reported a profit of VNĐ 一. 四 trillion ($ 六 一 million), a  七 四 per cent jump year-on-year.

Novaland has developed around  四0 housing projects so far, most of them in the southern metro. — VNS