C.T Land looks to VND22 trillion revenue in 2021
C.T Land looks to VND22 trillion revenue in 2021
Since its establishment in 1992, C.T Group has developed into a diversified business group, with its ecosystem covering five sectors – real estate, construction, finance, retail and tourism. Its affiliate C.T Land Joint Stock Company is in charge of the real estate sector.
By the end of last year, C.T Land’s charter capital had reached VND4.2 trillion. The company has brought to the market four groups of property products: housing, retail, logistics and tourism. With its extensive experience, C.T Land rolled out popular products in the four groups. Of which, the housing group makes up the largest proportion and consists of high-end, mid-high-end, mid-end, commercial and social homes.
As for houses for rent, C.T Group also boasts successful products in the high-end, low-cost and social segments.
With a history of nearly 30 years, C.T Group is one of a few businesses facing little difficulty, which is evidenced by its receipt of many medals and awards from the Government. It is one of a few developers that maintain warranty services for the products which they have handed over to customers over the past decade as it is confident in its product quality.
According to investors and customers, C.T Group’s products are mainly located in ideal locations, so they can guarantee a high profit margin.
Over the past 30 years, C.T Land and C.T Group as a whole have secured land lots in prime locations, which are appealing to investors. C.T Land has developed a lot of housing projects which cover a combined 1,400 hectares of land along main roads in HCMC and neighboring provinces.
For example, the Metro Star project in District 9, HCMC is located near the most beautiful park on Hanoi Highway and the Binh Thai Roundabout connecting to Ring Road No. 2 and Pham Van Dong and Mai Chi Tho streets. The project, which is expected to be completed by the end of this year, will be also connected to Station No.10 of the Ben Thanh-Suoi Tien metro line through a pedestrian bridge.
In addition, the Roy Compound project in District 9 will cover 5.4 hectares of land and link HCMC and Long Thanh District in neighboring Dong Nai Province.
This year, C.T Land will launch its key projects such as the Italian-style Saigon Venice on 63 hectares of land in Binh Chanh District, a modern super urban area covering an area of 400 hectares on the extended Vo Van Kiet Avenue, and a 22-hectare sport, trade and service complex on Doc Lap Avenue connecting to Pham Van Dong Avenue in Thu Duc District.
To meet the high demand for affordable houses and make it easy for well-educated youth to own a home, right on the first days of 2021, C.T Group launched the Do It Yourself Alliances (DIYAS) product line with more than 20,000 apartment units along the city’s second metro line. C.T Group has attached much importance to this product line, which is reserved for creative young people, a motivation for the city’s development. It connects startup incubators and talent and creative young people based on a 4.0 technological platform and the practice of the 3R (Reduce-Reuse-Recycle) trend.
Initially, apartments of the DIYAS SKY project will be handed over to customers by the end of January, 2021, just before the lunar New Year holiday.
In addition, C.T Land will acquire many other projects and complete them this year, such as CT Plaza Minh Chau at 369 Le Van Sy Street, Ward 12, District 3, and CT Plaza Nguyen Hong at 18 Nguyen Hong Street, Ward 1, Go Vap District, to generate more revenue for the group.
With diverse products and a large land fund whose legality has been recognized, C.T Land is confident to earn VND22 trillion in revenue this year.
One of its objectives and a foundation for C.T Land to achieve this revenue target is that C.T Land will launch its pre-initial public offering (IPO) in the first half of this year, taking into account only 11 of C.T Group’s 80 projects, which the United Kingdom’s Colliers International has estimated at over US$1 billion, or some VND25 trillion.
The products that C.T Group has sold but has yet to collect payments and the products that are put up for sale are valued at VND11 trillion. The vendor due diligence of C.T Group’s plan to earn revenue of VND22 trillion will be conducted by one of the big four accounting firms to ensure the group’s prestige with investors.
According to statistics from the Credit Information Center under the State Bank of Vietnam dated June 16, 2020, C.T Land had had no debt over the past five years.
Moreover, C.T Group has received multiple international prizes, such as one of the best companies to work for in Asia, and an award by the HR Asia Magazine to assess and honor companies with the best working environment in Asia. At the Dot Property Vietnam Awards 2020 ceremony, C.T Group’s Léman Luxury was honored with the “Best Innovative Green Building” Award. Additionally, Léman Cap Resort & Spa was honored with the annual Gold Circle Award at the Agoda.com’s 2019 Gold Circle Awards.
With a large land fund, 30-year experience in dealing with legal procedures, construction and sales, great staff and effective governance, C.T Land has completed preparations for an audit by E&Y, consultancy from HSC and project appraisal by Vilaf and A&O. Therefore, C.T Land is confident to successfully carry out its pre-IPO plan in the first six months of this year.
