Portrait of Mr. Pham Thieu Hoa
Vinhomes built a cheap house for the first time for low-income people
Recently, the information that Vinhomes officially “set foot” in the field of social housing was revealed by Mr. Pham Thieu Hoa, Chairman of Vinhomes, on May 12 at the annual General Meeting of Shareholders of this business.
According to Vinhomes, Happy Homes are introduced as independent urban projects, separate from Vinhomes’s commercial housing projects or as social housing plots in the great projects of this enterprise.
In particular, Happy Home is deployed under the “full utility” model, with a scale of 50 – 60 hectares or more and deployed in the periphery of big cities and provinces – where there is a “thirst” for housing for workers. low-income – such as Hanoi, Ho Chi Minh City, Hai Phong, Quang Ninh, Da Nang…
Including 3 types: Type 1 sells for nearly 300 million VND, are apartments in buildings with a maximum of 7 floors, area from 24 m2 of floor and 12 m2 of loft. Type 2 is apartments in 15 – 21 storey buildings, area from 30 – 50 m2, with the price of 400 – 700 million VND. Type 3 is 3-storey semi-detached houses, with an area of 50 – 70 m2, maximum selling price of 950 million VND.
Mr. Pham Thieu Hoa – Chairman of Vinhomes. Photo: VHM
Chairman of Vinhomes said, has applied to build a number of social housing projects in the districts of Hanoi and Ho Chi Minh City; At the same time, it is also preparing to build social housing land in its existing projects. In terms of time, the first project is expected to start construction in August this year. The first buildings will be put into use from June 2023.
“Half a million social housing is a very large number and I am sure 100% of the houses will reach the right people! We will hold direct, public sales. All applications will be assessed before being submitted to the Department of Construction for permission, so we are confident that these homes will arrive at the correct address.“, Mr. Pham Thieu Hoa shared with VnExpress.
Although he was only appointed Chairman of the Board of Directors of Vinhomes a few days ago (May 11), Pham Thieu Hoa immediately made the first breakthrough, unprecedented for this real estate business. .
Accordingly, Mr. Pham Thieu Hoa is a rather secretive figure in Vingroup’s leadership, but is considered a key person, helping VinHomes develop a land fund of up to 165 million m2 – an extremely important factor. helping billionaire Pham Nhat Vuong’s ‘money printing machine’ not be interrupted.
Who is Mr. Pham Thieu Hoa?
Mr. Pham Thieu Hoa was born on November 6, 1963, in Ha Nam, currently residing in Hanoi. He graduated with a Master of Business Administration from the University of Southern California.
From 1987 to 2002, Mr. Pham Thieu Hoa was in charge of import-export work at Leaprodexim Vietnam Company. From 2003 to 2005, Mr. Hoa held the position of Deputy Sales Director of Technocom Group, the instant noodle company that Pham Nhat Vuong founded in Ukraine (the predecessor of Vingroup).
The introduction of Mr. Pham Thieu Hoa in the annual report of Vinhomes
Since December 2005, Mr. Hoa has been appointed as Project Development Director of Vincom JSC. In addition, he is also a member of the Board of Directors of Hoang Gia City Real Estate Development and Investment JSC, a member of the Board of Directors of Ho Tay Real Estate Development and Investment JSC.
From February 2015, Mr. Pham Thieu Hoa was elected as a member of the Board of Directors of South Hanoi Urban Development JSC. In addition, Mr. Hoa is also the Chairman of the Board of Directors of Sai Dong Urban Development and Investment JSC, a member of the Board of Directors and Deputy General Director of the Southern Hanoi Urban Development JSC.
In February 2018, Mr. Pham Thieu Hoa was appointed as Deputy General Director of Vinhomes project development. On May 18, 2019, Mr. Pham Thieu Hoa was appointed to replace Ms. Luu Thi Anh Xuan as the General Director of Vinhomes.
From July 8, 2020, Mr. Hoa was a member of the Board of Directors of Vinhomes Joint Stock Company, until May 11, 2022 he was elected Chairman of the Board of Directors of Vinhomes.
The person behind Vinhomes’ huge land bank
About Vinhomes Joint Stock Company, formerly BIDV-PP Urban Joint Stock Company, was established in 2008 with an initial charter capital of 300 billion VND. In 2018, VHM shares traded on the Ho Chi Minh City Stock Exchange (HOSE).
The company main activities in the fields of investment, development and real estate business, housing, office and related items; Site preparation, equipment installation and construction completion; Leasing construction machinery and equipment; Business hotel services, restaurants, entertainment services, entertainment.
As a subsidiary of Vingroup, VHM has many advantages in participating in the implementation of real estate projects, having a close relationship with the real estate business partners of the parent company as well as enjoying benefit from the advantage of the Vingroup ecosystem.
Before that, from 1998-1999, when he just returned to Vietnam from Ukraine, Mr. Pham Nhat Vuong soon embarked on the real estate field by establishing two real estate companies in Vietnam, Vinpearl in 2000. and Vingroup in 2002.
However, it was not until 2008, that BIDV Urban Joint Stock Company – the predecessor of Vinhomes was born, with an initial registered charter capital of 300 billion VND, aiming to build and develop urban areas and houses.
In 2009, the company changed its name to Hanoi South Urban Development Joint Stock Company, and at the same time increased its charter capital to VND 2,000 billion in 2010. From this moment, Vinhomes quickly became a “goose that lays golden eggs” and is the “backbone” in the business ecosystem of billionaire Pham Nhat Vuong.
As a major shareholder of Vinhomes, since its establishment, Vinhomes has brought in a huge source of revenue for the parent group, Vingroup.
Low-rise apartments bring high profit margin for Vinhomes in the third quarter. Photo: Vinhomes Star City project.
Specifically, in 2020, although many businesses in the real estate sector were facing difficulties because of the epidemic, this business achieved very positive results. This real estate developer recorded over VND71,500 billion in revenue and more than VND28,200 billion in net profit, up 39% and 16% respectively compared to 2019.
In 2021, Vinhomes sets a revenue target of VND 90,000 billion, up 26% compared to 2020. Profit after tax is expected to reach VND 35,000 billion, up 24%. This is the record revenue and profit of this business since its establishment.
However, at Vinhomes, billionaire Pham Nhat Vuong only holds the position of a member of the board of directors. Two effective and important hands that help Vinhomes operate smoothly are Mr. Pham Thieu Hoa, Chairman of Vinhomes and Ms. Pham Dieu Linh, Vice Chairman of Vingroup’s Board of Directors, in charge of Vinhomes.
Vinhomes is the leading company in the real estate market in Vietnam with a land fund of up to 165 million m2, the highest in the market, significantly outperforming other businesses in the same industry. Although it has implemented many large-scale projects consecutively over the years, Vinhomes only uses about 10-15% of its land fund.
Thus, most of Vinhomes’ land is still waiting to be exploited, which is expected to be enough for this company to use and develop projects in the next 10-15 years.
Currently, Vinhomes is managing 23 urban areas in 7 provinces with an average absorption rate of up to 95%. According to statistics of Forbes Vietnam, from 2014 to now, Vinhomes has completed 74,700 housing units, occupying the No. 1 position in terms of supply, far ahead of competitors.
According to CBRE data, in the period 2016-9M2019, Vinhomes accounted for 22% of the market share of sold apartments in Hanoi and Ho Chi Minh City. HCM. In which, in the high-end segment alone, Vinhomes accounted for 40% of the market share, far ahead of the enterprises behind with a market share of approximately 6%.
In the first quarter of 2022, Vinhomes has launched 1,500 apartments in two buildings P1 and P3 of the Vinhomes Ocean Park project with an absorption rate of 80% and sold out 74 low-rise commercial and service villas in the project. Vinhomes Grand Park after just one week.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
