2 years after the statement of Chairman Pham Nhat Vuong at the 2020 General Meeting of Shareholders, a subsidiary of Vingroup has increased its charter capital to… 264 times
Vinhomes strongly poured money into industrial park real estate?
Remember in 2020, the information that Vinhomes will build an industrial park in Thuy Nguyen, Hai Phong has made the public very interested.
Accordingly, in April 2020, Vinhomes Industrial Park Investment Joint Stock Company (Vinhomes IZ) proposed to the Management Board of Hai Phong Economic Zone to invest in developing infrastructure of Thuy Nguyen Industrial Park on an area 319 hectares with a total investment of more than 4,000 billion VND.
Vinhomes Industrial Park Investment Joint Stock Company (Vinhomes IZ), formerly a subsidiary of Vingroup, then in March 2020, Vingroup’s Board of Directors decided to transfer all shares of Vinhomes IZ to to its subsidiaries, which are Vinhomes JSC (VHM) and Green City Development JSC.
Vinhomes through its subsidiary Vinhomes IZ will invest in a number of industrial parks across the country.
Nguyen Dieu Linh, former Chairman of the Board of Directors of Vinhomes at that time, shared that the business expected to spend about VND 10,000 billion on industrial real estate in about 2 years.
In fact, in the 2 years from March 2020 to April 2022, Vinhomes IZ has increased its charter capital from 70 billion VND to 18,500 billion VND, much larger than the 10,000 billion VND expected previously. .
And if calculated from the 70 billion mark before March 16, 2020, the charter capital of Vinhomes IZ has doubled 264 time.
Synthesized from information on charter capital of enterprises over time
Currently, Vinhomes is managing and operating a 335-hectare industrial park in Dinh Vu industrial park, Cat Hai, Hai Phong, where the VinFast car factory is located.
VinFast, with its production capacity being continuously improved, is forming around a chain of component factories, the main tenant of the current industrial park.
Started on the same day as Tan Vu – Lach Huyen Bridge – the longest sea-crossing bridge in Vietnam, VinFast is one of the bright spots to attract investment of Hai Phong city. VinFast Industrial Park quickly gained significant advantages in logistics when traffic was connected to the two coasts.
Why does Vinhomes intend to encroach into the field of industrial real estate and why choose Hai Phong?
Industrial park real estate is an area that many businesses are interested in investing in because of the opportunities that are strongly opening up for Vietnam, with the expectation of becoming the world’s factory. With Vingroup’s leading position in the real estate industry, Chairman Pham Nhat Vuong clearly cannot let Vinhomes stay out of this game.
Firstly, Vinhomes takes advantage of opportunities and macro conditions to welcome the wave of foreign direct investment (FDI) businesses. The prospect of attracting foreign direct investment capital of Vietnam in the coming time has been analyzed by many experts and press.
Second, billionaire Pham Nhat Vuong believes that industrial real estate will bring regular cash flow. This is necessary, if viewed from the Covid-19 situation, a business segment capable of spreading risks and aiming for stable revenue streams becomes even more important.
Tuesday, The decision to develop industrial park real estate also brought with it Vingroup’s calculations about expanding the ecosystem for the manufacturing segment with the ambition to go faster.
Nguyen Dieu Linh, former Chairman of the Board of Directors of Vinhomes, said that the initial target customers of the industrial park real estate segment are units in the supply chain of auto parts, the aim is to create a surrounding ecosystem. around VinFast in terms of both production factors and geography.
Vnexpress newspaper quoted former Chairman of Vinhomes Nguyen Dieu Linh: “In the immediate future, we will look for tenants in the industrial zone segment who are units in the supply chain for VinFast, then will expand to other objects.“. Vinhomes will offer attractive price policies to attract tenants.
Fourth, with the advantage of river and sea ports convenient for transporting goods and components, Hai Phong as well as the northern provinces in general have advantages in forming industrial parks.
The land fund in the North is still abundant compared to the South, suitable for the formation of new industrial zones here. According to Savills Vietnam, despite the challenges posed by the pandemic, the occupancy rate of industrial real estate in the North remained stable at 87% in the third quarter of 2021 and the leasable area reached 20,567 hectares, an increase of 2 .35% over the same period last year.
Hai Phong currently has a large investment in transport infrastructure, creating a complete logistics chain and becoming a link in the global logistics chain with Cat Bi International Airport and Lach Huyen International Deepwater Port.
This explains Hai Phong’s growing attraction to FDI investors. For example, LG Group from the beginning of last year increased capital by 750 million USD (February 2021) and by the end of August 2021 increased by 1.4 billion USD.
The question now will be, with the situation of the latter, what will Vinhomes compete with?
According to Mr. Vuong, with the industrial park real estate segment, Vingroup still maintains a competitive stance with the same quality of final products as residential real estate.
Despite the large supply in the market, Vinhomes’ products are still sold stably because Vingroup researches to create a full and convenient living and consumption ecosystem for Vinhomes residents, thereby creating an absolute competitive advantage. . Although the price of Vinhomes’ houses is higher than that of neighboring residential areas, it is still trusted by customers to choose.
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