A view of the annual general meeting of Novaland shareholders 2019.
The property developer wrapped up the year 2018 with a net revenue of VND15,290 billion, up 31% against 2017, and earned VND3,267 billion in after-tax profits, increasing 58% over 2017.
Novaland entered the year 2019 with targets of VND18,000 billion in revenues and VND3,300 billion in after-tax profits, respectively increasing 17.7% and 0.7% versus the same period of 2018.
In 2019, the group will add some business fields related to tourism, entertainment, cultural and artistic services and infrastructure investment.
At the annual general meeting of shareholders 2019, Novaland presented its development strategy for the 2019-2023 period. Accordingly, the group will continue to deploy the second phase of development, further tapping the mid- and high-end property segments which include housing projects, satellite towns and tourism property complexes.
With a land bank of 2.700 hectares, of which the housing segment is to be allotted 25% and the rest 75% for the tourism property sector, Novaland can adjust its business plan in accordance with the market demand.
In the housing segment, Novaland said it will continue to develop projects in HCMC and neighboring provinces. The property developer expects to launch some 4,500 units including condos, landed houses and villas, as well as to hand over some 5,900 units to buyers in 2019.
Meanwhile, in the tourism property segment, Novaland has launched three projects branded NovaHills, NovaBeach and NovaWorld. In the coming time, the group will introduce some 2.000 tourism property products including resort town houses, resort villas and shop houses.
Novaland has designed a supporting services chain, forming a tourism service ecosystem called NovaTourism to generate long-term profits for investors’ capital based on the number of tourists staying at its resorts.
Also, Novaland has invited international consultants like BCG and Mc Kinsey to work with localities to discuss and study a tourism development strategy, with an aim to turn its properties into appealing destinations for local and international travelers.
NovaWorld Phan Thiet - a tourism property complex.
As planned, Novaland will introduce NovaWorld Phan Thiet, NovaWorld Ho Tram and NovaWorld Mekong projects in the coming time. Of the projects, NovaWorld Phan Thiet, located in Tien Thanh commune in Phan Thiet City in the south-central province of Binh Thuan, covers some 1,000 hectares.
NovaWorld Phan Thiet offers a variety of products for investment, including town houses, resort villas and shop houses with the sea view. The project is surrounded by numerous entertainment service facilities such as a 220-hectare sport complex, a themed park, a water park, a 16-hectare seaside park, a complex of entertainment, shopping center, conference and hotel, and a heritage road featuring traditional products and culinary specialties.
Besides, Novaland will develop NovaWorld Mekong which is located along the HCMC-My Thuan-Can Tho expressway. The group will work with BCG consultant group, MB Bank and Can Tho government to propose a strategy called “Mekong Delta tourism development adaptive to climate change”. The project sets the vision of connecting and developing tourism for 13 provinces and cities in the Mekong Delta region, with Can Tho City playing the central role.
