How is the potential of the 18 businesses selected for social housing?

(Dan Tri) - Vingroup, Sun Group, Becamex IDC, Viglacera, Nam Long, Vinaconex... all have financial foundations and experience in implementing social housing. Some businesses also have their own commitments to the Prime Minister.

18 social housing enterprises have just been introduced by the Ministry of Construction to localities, in a report sent to the Government. The Ministry stated that it selected enterprises based on financial capacity; experience in implementing social housing, worker housing, urban areas, commercial housing areas with scales from hundreds to thousands of units...

Enterprises must also demonstrate their enthusiasm, social responsibility and spirit of accompanying the Government in implementing the goal of housing security, and be willing to devote investment resources to the social housing segment - a low-profit sector but with profound political and social significance.

Potential of State-owned enterprises

Many State-owned enterprises were "chosen to entrust" including Housing and Urban Development Corporation (HUD); Hanoi Construction Corporation - JSC (Hancorp); Corporation 319 - Ministry of National Defense ; Industrial Investment and Development Corporation (Becamex IDC); Thanh An Corporation (Army Corps 11); Truong Son Construction Corporation (Army Corps 12); Urban Infrastructure Development Investment Corporation UDIC.

In which, Housing and Urban Development Corporation (HUD) is a State-owned enterprise under the Ministry of Construction with main business lines being investment in developing new urban areas and housing, and real estate business.

Established in 1989, after more than 35 years, HUD has been implementing 25 new urban areas in many provinces and cities. Regarding social housing, HUD has completed more than 250,000m2 of construction floor. The enterprise has implemented many social housing projects in Ha Nam, Binh Duong...

As of June 30, HUD had total assets of over VND15,378 billion with equity of over VND4,000 billion. Profit after tax in the first half of the year reached VND199 billion, up 45% over the same period last year.

Also with the majority of capital held by the Ministry of Construction, Hanoi Construction Corporation - JSC (Hancorp) has implemented many social housing projects in Hanoi, Ha Nam and Dong Nai. At the end of September, Hancorp and related units started construction on two social housing projects in Dong Nai, expected to provide accommodation for 9,000 people.

As of June 30, Hancorp had total assets of over VND6,400 billion with equity of over VND1,600 billion. Profit after tax in the first half of the year reached VND23 billion, equivalent to the same period last year.

Capital, asset and profit scale of some enterprises (Unit: billion VND, aggregated according to financial reports).

The Industrial Development and Investment Corporation (Becamex IDC) was once known as a "super state-owned enterprise", established in 1976. After the reorganization of administrative units, the Ho Chi Minh City People's Committee took over the shares in this enterprise.

Becamex IDC operates in many sectors, is the investor of many industrial park projects, urban areas, large infrastructure projects in Binh Duong (old)... Particularly for social housing, this group develops this segment in association with industrial parks and urban areas. By the end of 2024, Becamex IDC has completed the handover of nearly 9,000 social housing units for sale and rent.

In the development plan for the 2021-2025 period, with a vision to 2030, the enterprise plans to invest in building more than 40,000 social housing units in the next phase in urban areas and industrial parks around Thuan An, Thu Dau Mot, Ben Cat, Bau Bang (old Binh Duong).

In the first half of the year, Becamex IDC achieved a profit of more than VND1,846 billion, 4.5 times higher than the same period last year. Recently, this enterprise planned to offer 300 million shares through auction on the Ho Chi Minh City Stock Exchange (HoSE) with a starting price of VND69,600/share.

If successful, the offering could help Becamex raise nearly VND20,880 billion and increase its charter capital to VND13,350 billion. However, due to unfavorable market conditions, the largest public offering in the history of Vietnam's capital market is being postponed.

Thanh An Corporation (Army Corps 11) and Truong Son Construction Corporation (Army Corps 12) are both under the Ministry of National Defense. Regarding social housing, the Ministry has a housing need for the entire army of about 76,700 apartments, proposing to use 46 land plots, including 35 defense land plots and 11 plots handed over by localities with a total area of ​​about 200 hectares to develop housing for the armed forces.

Powerful arms from the private enterprise sector

The Government's goal of developing 1 million social housing units by 2030 cannot lack the participation of the private economic sector - the most important driving force of the national economy, as in the spirit of Resolution 68 of the Politburo on private economic development.

The "locomotive" enterprises that play a leading role in this block in the social housing development strategy include Vingroup Corporation, Sun Group Corporation, Viglacera Corporation, Nam Long Investment Joint Stock Company, Vinaconex Joint Stock Corporation, Duc Manh Construction Trading Company Limited, Taseco Land Company, Cat Tuong Joint Stock Company, Thu Do Investment and Trading Joint Stock Company, Construction Corporation No. 1 (CC1).

Vingroup Corporation has committed to building 500,000 social houses by 2030, half the number of houses the Prime Minister assigned the whole country to complete in the same period. In the past 2 years, billionaire Pham Nhat Vuong's enterprise has started many social housing projects in Hai Phong, Thanh Hoa, Quang Tri and Khanh Hoa (old); it plans to implement many other projects in Hanoi, Hung Yen, Ha Tinh, Ho Chi Minh City...

Sun Group Corporation has the capacity to implement a series of urban area projects, entertainment areas, and high-end resorts. Since the beginning of 2024, the group has deployed social housing in urban areas in Ha Nam, with a scale of more than 12,000 units. In the middle of this year, a social housing project for officials, doctors, and staff of Bach Mai Hospital and Viet Duc Hospital was also started in Ha Nam, with a total investment of more than 400 billion VND.

Viglacera has also been a pioneer in developing social housing for many years, along with the residential and industrial real estate sectors. This unit has carried out many social housing projects and housing for workers in urban areas and industrial parks in Hanoi and some northern provinces.

Developing affordable housing and social housing products is also one of the long-term strategic orientations of Nam Long Investment Joint Stock Company with a commitment to sustainable development and accompanying the national housing strategy. Up to now, about 13,000 affordable housing and social housing products have been developed by Nam Long in Ho Chi Minh City, Can Tho, Long An (old)...

Some other enterprises are also notable brands in the real estate market, in the social housing segment. Construction Corporation No. 1 (CC1) invests and develops social housing projects in An Giang, Ho Chi Minh City. Or Capital Investment and Trade Joint Stock Company with 20 years of establishment and development has made many social housing and commercial projects in the popular segment in Bac Giang, Lam Dong, Binh Dinh (old)...

Capital, asset and profit scale of some enterprises (Unit: billion VND, aggregated according to financial reports).

In addition to the ability to develop good projects, the enterprises also possess a good asset scale and business results. As of September 30, Vingroup Corporation had total assets of more than VND958,000 billion. Profit after tax in the first half of the year reached VND4,540 billion, more than double the same period last year.

The situation also improved with Nam Long Company, which recorded a profit of more than 207 billion VND in the first half of the year, double that of the same period last year. Total assets of the enterprise reached more than 1 billion USD. Tasco Land also recorded a profit of more than 3 times in the first half of the year, reaching more than 61 billion VND.

According to the report of the Ministry of Construction, up to now, the country has 692 social housing projects under implementation with a scale of more than 633,000 units. Including the number of projects that have been completed, started and approved for investment, the progress has only reached nearly 60% of the project target.

In the first 9 months of the year, more than 43,600 units were completed, reaching nearly 44% of the plan, with the whole year expected to reach about 83%. However, only 4 localities completed over 50% of the target: Bac Ninh, Quang Ninh, Nghe An and Lao Cai.

Source: https://dantri.com.vn/bat-dong-san/18-doanh-nghiep-duoc-chon-lam-nha-o-xa-hoi-co-tiem-luc-ra-sao-20251002104125808.htm