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|The Vinhomes Central Park project|
As one of the leading real estate developers in Vietnam, Vinhomes are currently implementing projects in 40 cities and provinces across the country. It also owns numerous golden land plots in Hanoi, Ho Chi Minh City, Haiphong, and Danang, among others.
As of March 31, Vinhomes reported its asset value of VND94.69 trillion ($4.16 billion) and charter capital of VND38.24 trillion ($1.68 billion). The apartment sales volume in 2015-2017 made up 15 per cent of the country total.
The firm has released its financial statement for the first quarter of this year. Notably, it earned VND10.53 trillion ($462.6 million) in net revenue and VND3.98 trillion ($174.8 million) in after-tax profit, tripling and quintupling its performance from last year.
Recently, Singaporean sovereign wealth fund GIC issued plans to purchase ordinary shares and extend a debt-like instrument to Vinhomes, subject to the satisfaction of mandatory regulatory and other conditions. The combined value of the investment and debt instrument is approximately VND29.5 trillion ($1.3 billion).
GIC is one of the largest investment funds in Vietnam. It currently holds a 5 per cent stake in Masan Group, 5 per cent in VietJet, 0.7 per cent in Vinamilk, and 3.5 per cent in FPT. Its total holdings reach a total value of VND15 trillion ($658.6 million).