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TTC Land jumps into industrial zone segment
Saigon Thuong Tin Real Estate JSC (Sacomreal) decided to set foot in industrial zone and resort development, as well as the commercial-rental segment after changing its name to TTC Land.
Accordingly, along with the housing segment, TTC Land will expand its operations into resort, commercial-rental, and industrial zone (IZ) real estate.
Notably, TTC Land will accelerate the construction of two commercial-rental real estate projects, namely TTC Plaza Binh Thanh in Ho Chi Minh City and TTC Plaza Duc Trong in Lam Dong province, in order to take them into operation soon. Besides, this year, the company will develop two more projects, namely TTC Plaza Danang and TTC Plaza Haiphong.
Besides, it will implement the construction of a 305-hectare resort complex in Phu Quoc.
Additionally, TTC Land will develop other IZ projects after the acquisition of the 1,002-hectare Thanh Thanh Cong IZ in Tay Ninh province and the 53-hectare Tan Kim IZ in 2017. Both of these IZ are located in the southern key economic zone and have an occupancy rate of 60 per cent.
Furthermore, TTC Land plans to develop projects across the country, instead of focusing on the south.
Once the restructuring ends, TTC Land will have total assets of VND17 trillion ($745.86 million) and own 2,000 hectares of land to develop real estate projects within the next ten years.
In 2010, the firm listed its shares on the Hanoi Stock Exchange. At the time, its charter capital reached VND1 trillion ($43.87 million). Thus, after more than eight years of operation, its charter capital increased to more than 90 per cent.
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