22:19 (GMT +7) - Monday 19/11/2018

Banking & Finance

CENLand holds roadshows on HSX listing

Released at: 08:58, 06/07/2018

CENLand holds roadshows on HSX listing

Photo: Khanh Chi (VET)

Real estate broker holds roadshows in Hanoi and HCMC to introduce investment opportunities.

by Hong Nhung

The Century Land JSC (CENLand), one of the largest real estate brokers in Vietnam, held roadshows on July 3 and 5 in Ho Chi Minh City and Hanoi, respectively, to introduce investment opportunities in the company.

The roadshows are part of efforts to inform investors about its plan to list on the Ho Chi Minh Stock Exchange (HSX), though it is yet to confirm when. The events will improve transparency and corporate governance towards sustainable development and ensure the long-term interests of shareholders.

CENLand is a major player in real estate brokerage, marketing consultancy, and secondary real estate investment. It now occupies 20 per cent of Vietnam’s real estate brokerage market and 40 per cent in Hanoi. For the last four years in succession it has been the leading real estate broker in Vietnam’s north.

In 2017 it recorded more than $48 million in revenue; nearly double the 2016 result. Net profit also doubled, to $11 million. Earnings per share (EPS) was $0.44 and total assets nearly $46 million. In the 2015-2017 period its revenue and profit growth was 54.5 per cent and 97.31 per cent, respectively.

CENLand targets consolidated revenue of about $73 million this year, a 50 per cent increase over 2017. Net profit is to rise to $14 million, up 26 per cent. Hanoi will contribute the most to the targets, with nearly $57.5 million in revenue and $10.4 million in profit.

A company representative said it is developing its services in secondary real estate investment to become the leader in providing advice in Vietnam. Its network covers Hai Phong, Hai Duong, Thanh Hoa, Nghe An, Dong Nai and Quy Nhon. It is also pioneering efforts to attract foreign investors to buy real estate in Vietnam, opening representative offices overseas, firstly in South Korea.

CENLand is also increasing its inventory control and boosting its operations by investing in technology.

It now has a broad real estate distribution channel, with more than 2,700 employees, 20 direct trading offices around the country linked with more than 700 real estate exchange offices nationwide, and online sales via Project Supermarket and the Nghemoigioi.vnwebsite, among others.

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