Many Listed Firms Boast New Property Projects

 

Post and Telecommunication Equipment Joint Stock Company (Postef), listed on the Ho Chi Minh City Stock Exchange (HOSE) with the ticker symbol of POT, announced new developments of its headquarters project at Tran Phu Street, Ba Dinh District, Hanoi after nearly three years staying idle.

 

At the recent Annual General Meeting of Shareholders of the fiscal year 2014, the Postef leadership said the Prime Minister, the highest authority, had approved the project. Residential relocation and site clearance had been completed and the company did not have to bear any financial obligations. On the sidelines of the meeting, Postef leaders also said that with better market development, the project caught more interest from many partners.

 

According to a close source, Postef partners in the 61 Tran Phu Project were finalising necessary steps for the project restart.

 

In addition to the 61 Tran Phu Project, Postef also planned to deploy another project at 63 Vu Trong Phung Street (Hanoi). According to Postef leaders, after a long period of preparation, the design planning is expected to be completed in the next few months.

 

HOSE-listed Hochiminh City Infrastructure Investment Joint Stock Company (CII) also gives a certain priority to real estate although it is not the biggest source of income. The Ho Chi Minh City-based company acquired stakes to become major shareholder in some real estate companies. It also set up its own property company to invest in its own projects.

 

The company said in a statement that the Ho Chi Minh City People’s Committee submitted to the Prime Minister the permit for CII to carry out the technical infrastructure construction investment project in the North Residential Area and key North-South Road in Thu Thiem New Urban Area in the investment form of build-transfer (BT) or land for infrastructure. The land in exchange of infrastructure is in the Thu Thiem New Urban Area. With this BT project, a real estate project worth some VND7,000 billion is taking shape.

 

Believing in the rally of real estate market, HUD1 Investment and Construction Joint Stock Company (stock ticker HU1) would speed up capital recovery in TT4 Linh Dam Project in Hanoi, plan investment into the 176 Dinh Cong Project, also in Hanoi, and seek approval for the 500:1 scale planning for Lien Bao New Urban Zone in Bac Ninh province in 2014. Not only accelerating ongoing projects, HUD1 will also seek suitable urban projects, mainly medium and small scale.

 

HOSE-listed FLC Group Joint Stock Company (stock ticker FLC) will start a series of big projects in many market segments in May and June, ranging from vacation property, amusement areas to urban zones and housing projects. The total investment capital is enormous.

 

After a long time struggling with difficulties, Quoc Cuong Gia Lai Joint Stock Company (QCG) is actively preparing to sell apartment/office products in many projects.

 

The HOSE-listed company said the market is positively reacting to Giai Viet Project. Other projects of the company are also catching strong interest from customers, and many big partners are seeking cooperation with the company. This is a positive change and motivation for Quoc Cuong Gia Lai to improve cash flows and focus resources for other big projects.

 

NBB Investment Corporation (stock ticker NBB), also listed on HOSE, has made plans to mobilise capital to speed up a series of projects like City Gate, NBB1 and NBB3 after a long time of struggling with capital flows, which lead to delays of many projects. The company's rhythm is coming back.

 

Other listed real estate companies also expressed optimism in the market outlook. 2014 is expected to see many property projects to be implemented, thus helping them to enjoy a revival after years of withstanding the market slump.