The Terra - Bac Giang is the commercial name of the mixed-use residential and commercial construction project in subdivision 2, Southern urban area, Dinh Ke ward, Bac Giang city, Bac Giang province. The transfer of part of this project is a strategic move by Van Phu - Invest as it has just ended the first half of the 2024 fiscal year.
Representatives of Van Phu - Invest and New Goldsun signed a contract to transfer part of The Terra - Bac Giang project.
The Terra - Bac Giang project has a scale of 4.5 hectares, including 2 product areas. One is the villa area with an area of 28,182m2, including 66 single villas with a height of 3 floors, construction density of 50%. The other is the mixed-use residential area, high-rise commercial and low-rise townhouses, including: 43 townhouses with an area of 1,403 - 1,918m2 of land/lot and 2 twin towers 28 floors high (C-HH-01 of The Terra+ line and C-HH-02 of The Terra line) providing the market with 688 apartments, designed population of 2,262 people.
The Terra - Bac Giang is considered one of the key projects of Van Phu - Invest in the current period, expected to continue the success of The Terra - An Hung project in Hanoi. The highlight of the project is the 28-storey twin tower with a harmonious and sophisticated design combining tradition and modernity, integrating a variety of images symbolizing nature, geography, and local culture.
Perspective of The Terra project - Bac Giang.
From the second quarter of 2024, Van Phu - Invest has begun handing over the first villa products at The Terra - Bac Giang, contributing to revenue of 165 billion VND in the second quarter.
According to the plan, in 2024, Van Phu - Invest aims to achieve revenue of VND 2,775 billion and profit after tax of VND 350 billion. The transfer of part of The Terra - Bac Giang project will significantly contribute to helping the company complete its business plan and bring cash flow to Van Phu - Invest.
More importantly, the deal improves Van Phu - Invest's financial situation. As of the end of June 2024, the company's inventory increased by 4% compared to the beginning of the year, reaching VND 3,857 billion, equivalent to 33.3% of total assets; at The Terra - Bac Giang project alone, it reached VND 1,515 billion, an increase of 2.5%.
"The transfer of part of The Terra - Bac Giang project will help Van Phu - Invest reduce inventory value, improve business cash flow, reduce borrowing, save financial costs, and optimize profits. The company will also have finance to serve other investment and business activities, especially the implementation of Vlasta Thuy Nguyen (Hai Phong) - one of Van Phu - Invest's key projects at the present stage, bringing a breakthrough in the coming time", a representative of Van Phu - Invest shared.
In the current period, when the real estate market shows positive signs of recovery, Van Phu - Invest is continuing to promote mergers and acquisitions (M&A) activities, researching potential auction projects to increase land funds as a source of investment projects for the following years, creating momentum for sustainable development in accordance with the 10-year development strategy (2023 - 2032).
With the vision, business strategy and corporate foundation, Van Phu - Invest is expected to have the opportunity to develop and become a prestigious mid-range real estate developer in Vietnam.
Source: https://dantri.com.vn/bat-dong-san/van-phu-invest-chuyen-nhuong-mot-phan-du-an-the-terra-bac-giang-20240805111339837.htm
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