07:33 (GMT +7) - Tuesday 20/11/2018

Property

NetLand develops Saigon Metro Mall in HCMC

Released at: 06:23, 05/08/2018

NetLand develops Saigon Metro Mall in HCMC

Photo: NetLand

Japanese-standard shopping mall to be introduced within Q3/2018.

by Hong Nhung

Vietnamese real estate developer NetLand Real Estate JSC recently announced that it would introduce the Saigon Metro Mall project in Q3/2018. It's located in Ho Chi Minh City’s District 8 and has been attracting the attention of many people.

Established in 2014, Netland is known in the local real estate market for acquiring 95 per cent of stock in Danh Khoi Real Estate JSC in 2017. It listed on the Hanoi Stock Exchange (HNX – stock code: NRC) in early 2018.

Partnership with Japanese investors

As a developer with strong financial resources, NetLand has been achieving many things, especially when it comes to seeking mergers and acquisitions (M&A) deals and concerns from some big Japanese investors.

In the first half of this year, one of Japan’s major corporations, Sanei Architecture Planning, became a strategic partner. G-7 Holdings Inc. also became a strategic shareholder of NetLand. It’s expected that Netland will partner with another Japanese company this month.

According to NetLand, the after-tax profit plan for 2018 was approved at the annual shareholders’ meeting at around $3 million. By the end of June this year, the company’s consolidated net revenue was more than $3.6 million and consolidated net profit was at $1.43 million of which revenue in Q2 reached $2.04 million. Q2 profit after tax was $846,000 completing 47.56 per cent of the plan.

NetLand shares on the HNX are now considered to be potential shares for investors. With its vast experience in land reserve and project development, NetLand is asserting its position in the local real estate market.

A Japanese-style shopping mall connected with metro line

Saigon Metro Mall is located in the administrative center of District 8, at the intersection of Ta Quang Buu and Highway 50, on an area of 4,600 sqm. According to the Urban Railway Management Board, metroline No.5 will go through Basement 2 which will bring a large number of visitors to Saigon Metro Mall and increase its competitiveness.

Saigon Metro Mall, which consists of more than 300 Japanese-standard concept pavilions, is an ecosystem that combines trade and culture. The ground floor even has an origami-influenced design. The architects of Saigon Metro Mall have created a unique shopping mall.

“With its large capital from its Japanese investors, especially the Daiso supermarket chain of G-7 Holdings, the Saigon Metro Mall will bring new products to the market,” said Mr. Nguyen Huu Quang, Deputy General Director of NetLand. “30 per cent of Saigon Metro Mall’s booths will be retained for strategic partners to sell Japanese products. This is our firm commitment to the management plan, business efficiency, and the potential for price increases in the future.”

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