HQC's social housing project in Nha Trang, Khanh Hoa. Photo: HQC

Announcing information on HoSE, Hoang Quan Real Estate Consulting - Trading - Service JSC (code HQC) said that on August 14, 2024, it received a notice from the Department of Natural Resources and Environment of Khanh Hoa province on the results of the inspection of the conditions for granting Certificates of land use rights, house ownership rights and other assets attached to land for buyers of apartments in the social housing project - Bac Vinh Hai residential area (HQC Nha Trang).

HQC Nha Trang is located in Vinh Hoa ward, Nha Trang city, Khanh Hoa province; total area of ​​10,842m², including 4 blocks, with 1,002 apartments. The project has a total investment of 700 billion VND, was completed and handed over in 2020. Currently, many residents have lived and done business in 974 social housing units and 28 shophouses. Hoang Quan is submitting documents to the Khanh Hoa Land Registration Office to complete the issuance of certificates to residents of the project in 2024.

Not long before, on August 6, 2024, Hoang Quan Real Estate announced that 171 apartments in blocks 3C and 3D of the social housing project of Tan Huong Industrial Park (commercial name HQC Tan Huong) were recognized by the Department of Construction of Tien Giang province as eligible for sale and lease-purchase of future housing.

HQC Tan Huong project has a total area of ​​14,190m2 located in Tan Huong commune, Chau Thanh district, Tien Giang province; adjacent to Tan Huong Industrial Park (over 197ha), Long Giang Industrial Park (540ha), invested by HQC.

The project scale includes 4 blocks (blocks A, B with 10 floors and C, D with 5 floors) and 2 auxiliary blocks with a total of 629 apartments, with a total investment of about 559 billion VND.

According to the investor's website, the selling price at HQC Tan Huong is 16.5 million VND/m2, with an area of ​​over 38-59m2. It is estimated that home buyers need to spend about 630-980 million VND to own an apartment.

Hoang Quan Real Estate is one of the enterprises with many years of experience in developing social housing. At the 2024 Annual General Meeting of Shareholders held in early June this year, Mr. Truong Anh Tuan - Chairman of the Board of Directors of HQC said that Hoang Quan Real Estate has completed 3,000 social housing units, and the goal for the coming years is to complete 5,000 units each year.

This year, the company aims for a revenue of VND2,000 billion, 6.8 times higher than in 2023. If successful, this will be Hoang Quan's record revenue since listing on HoSE in 2010. Correspondingly, the expected after-tax profit is VND100 billion, 20 times higher than last year, and also the highest profit in the past 9 years of the company (since 2016).

In the first 6 months of 2024, the company brought in VND359 billion in revenue from sales and service provision, 2.4 times higher than the same period last year; after-tax profit reached VND12.5 billion, 5.4 times higher. However, the company has only achieved 13% of the annual profit plan.

Hoang Quan Real Estate was listed on the stock exchange in 2010, but from 2011 to 2022, the company only had one year to complete its business plan, which was 2015, and in 11 years, it only completed less than 20% of its annual profit plan.