On January 23, 2021, the Board of Cen Land (HSX: CRE) issued a resolution on the approval of investment in buying, selling, and transferring Chanh Nghia Quoc Cuong project in Chanh Nghia ward, Thu Dau Mot city, Binh Duong province deployed by C-Holdings Joint Stock Company. Total investment is over VND485 billion.
Cen Land shakes hands with C-Holdings.
C-Holdings Joint Stock Company is chaired by Nguyen Quoc Cuong and Dam Thu Trang is the vice chairman. Established in 2018, C-Holdings is the developer of C-Sky View luxury apartment project, with the expectation of creating the most livable township in Thu Dau Mot city, Binh Duong.
Previously, C-Holdings and Cen Land signed an investment cooperation agreement for C-Sky View project to become the investor in C-Sky View project.
Recently, Cen Land has signed investment agreements in many large projects. Cen Land announced the successful issuance of corporate bonds of more than VND450 billion to finance the Louis City project and spend over VND1,000 billion in the suburban project of Hanoi. Recent investment projects are expected to bring Cen Land more than VND5,300 billion in revenue. According to Cen Land, new investment projects are located in potential segments such as land plots and apartments at reasonable prices. Therefore, these products have high liquidity.
In fact, Cen Land has revived many projects, bringing a new vitality when shaking hands with the developers to offer appropriate products and sales policies.
In addition to investment, Cen Land is the sales agency of many prestigious projects such as Imperia Smart City, The Terra Hao Nam and Grandeur Palace Giang Vo by the developer Van Phu - Invest.
Cen Land has been the sales agency of major developers such as: Gamuda Land, Park City, Bitexco Group, Eurowindow Holding, FLC Group, Alphanam Group, Sunshine Group, Dabaco, Khang Dien, Quoc Cuong, just to name a few.
Currently, Cen Land is offering to the market 176 projects with more than 20,000 products from apartments, townhouses, villas to condotels. Total value is more than VND78,000 billion.
Shark Hung registered to buy 1 million shares
Cen Land vice chairman Pham Thanh Hung registered to buy 1 million CRE shares. The number of shares after trading is over 2,471 million shares, accounting for 2.574 per cent. The execution time is from January 11 to January 21.
On the stock market, the price of CRE on January 25 was VND25,450/share. In 2021, CRE was in the group of positive stocks in the real estate industry despite the impact of pandemic and economic crisis.
Overcoming difficulties and challenges in 2020, net revenue for the whole year reached VND2,113 billion, equal to 92 per cent of the revenue of 2019. In which, revenue from brokerage was VND1,037 billion, equal to 81 per cent compared to 2019, revenue from real estate transfer slightly increased to VND1,039 billion. EAT is about VND302 billion, down by 23 per cent YoY, EPS is VND3,692/ share.
Total assets increased sharply by 45 per cent to VND3,892 billion, mainly due to increased deposits and collaterals to ensure brokerage of real estate products formed from projects and some other receivables. In 2020, the company increases its financial debt for secondary investment projects.
In its "new normal" investment strategy, Cen Land focuses on core areas, while expanding into new segments to meet market needs such as real estate logistics with Cen Zone and townhouse for secondary market, and rental application under Cen Housing and Cen Stay.
Cen Land owns the leading proptech platform in Vietnam - Cenhomes.vn
Cen Land continues to invest in technology after acquiring 100% of Cenhomes.vn proptech platform. Cen Land's sales consultants are more and more professional when offices in the provinces become joint stock companies. This brings a new position and prestige to Cen Land in the real estate market in Vietnam.
