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ECONOMYREAL ESTATE

Ha Do Group's 2017 revenue brushes US$100 million mark

Updated at Tuesday, 27 Feb 2018, 12:02
The Hanoitimes - The group`s consolidated revenue in 2017 is estimated at VND2.2 trillion (US$96.6 million), up 48% compared to last year, according to the company`s latest financial statement.
As such, Ha Do recorded an after-tax profit of VND284 billion (US$12.4 million), increasing 113% compared to 2016. 
 
Ha Do Centrosa Garden.
Ha Do Centrosa Garden project.
Specifically, revenue from the parent company reached VND715 billion (US$31.3 million), while its after-tax profit is reported at VND194 billion (US$8.5 million), growing at the rates of 200 and 700%, respectively. 

The company's revenue and profit come mainly from real estate and hydropower, according to the report. 

Last year, Ha Do introduced a series of luxurious projects, including the high-class facilities of Ha Do Centrosa Garden at the center of District 10, Ho Chi Minh City. Since the launch in the third quarter of 2016, around 99% of the apartments have been sold. 

At present, 115 luxury townhouses have been handed over to customers along with the pink book since December 2017. The construction progresses at Orchid & Jasmine blocks is 3 months ahead of schedule, while the Iris block is currently constructing the second floor. 

The project attracts investors with 21 green parks designed in harmony, with on-site services like commercial centers, schools, restaurants, libraries, parking, campus, as well as gym and spa.

In addition to residential real estate, in 2017, hotel and office for rent experienced strong growth. As such, the 4-star hotel complexes Ibis Saigon Airport and Ha Do Airport Building (Tan Binh District, Ho Chi Minh) have generated steady revenue with 100% occupancy rates, according to the company's report. 

In Hanoi, the Group has also started the commercial operation of Ha Do North Building in November 2017 with high occupancy rates. 

On the other hand, hydropower and renewable energy have been considered the key fields of the Group. In 2017, Ha Do owned 5 large-scale hydropower projects, two of which have been put into operation with the total capacity of 60 MW. 

It is expected that the third project (60 MW) will start operation in the first quarter of 2018, the fourth project (100 MW) in first quarter of 2019, and the fifth (50 MW) in the first quarter of 2020, taking the total capacity to 270 MW and supplying 1,080 million KWh to the market per year. 

In addition to business activities, 2017 has been a successful year for mergers and acquisitions (M&A) activities as well. The Group has been pushing forward with acquiring and merging with a series of companies such as Education Equipment No.1, Song Tranh 4, Ha Do-Binh Thuan, and Agrita Quang Nam Energy.

Regarding plans for 2018, Ha Do will focus on applying information and technology (IT) to its business activities, integrating branding with business strategy and international integration, said the Group's representative.

Also this year, the Group will continue introducing luxurious projects both in Vietnam and abroad, such as Ha Do Dragon City (Hanoi), Alila Bao Dai-The Imperial House (Nha Trang), Binh An Riverside (District 8), Ha Do Garden Home (District 9), and Nongtha Central Park (Laos). 
Nguyen Tung
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