Following a portfolio restructuring phase and the completion of legal procedures for strategic assets, Saigon Thuong Tin Real Estate Joint Stock Company - TTC Land (HOSE: SCR) is entering the phase of realizing the value of its land bank through the implementation of projects.
Accordingly, Panomax River Villa – Lot K (Dao Tri Street, Phu Thuan Ward, Ho Chi Minh City) is one of the first projects to be implemented, scheduled to commence construction on August 6, 2026, with an expected revenue of over VND 1,100 billion, marking the beginning of a revenue generation and cash flow cycle for the Company in subsequent phases.
In the context of limited new supply in Ho Chi Minh City, projects with complete legal documentation and sufficient conditions for implementation possess a clear competitive advantage. The completion of important legal procedures for Panomax River Villa – Lot K allows TTC Land to be ready to bring the project into the commercialization phase as planned.
Perspective view of the Panomax River Villa project.
Completing the Legal Framework, Ready for Implementation
Panomax River Villa – Lot K has completed all key legal requirements, including determining additional financial obligations, completing the Feasibility Study Report assessment, and obtaining a Construction Permit as per regulations. With these legal requirements fulfilled, the project is expected to commence construction on August 6, 2026, providing a basis for implementation and preparation for business operations as planned.
The simultaneous completion of these important legal procedures enhances the project's readiness, shortens the investment preparation time, and creates a foundation for TTC Land to proactively implement business operations in the future.
Realizing Land Value, Continuing to Strengthen the Growth Foundation
Panomax River Villa – Lot K, located at 722 Dao Tri Street, Phu Thuan Ward, Ho Chi Minh City, is developed on a 0.85-hectare plot of land with 63 high-end low-rise apartments, targeting customers with real estate needs and investors in the South of Ho Chi Minh City.
For real estate developers, the project's implementation and sales phase not only adds to the supply of products but also initiates a cycle of generating cash flow from business operations. This is the foundation for TTC Land to gradually realize the value of its accumulated land fund, expand revenue sources, improve operating cash flow, and optimize the value of land exploitation.
In parallel with the implementation of key projects, TTC Land continues to improve its financial foundation. In the first six months of 2026, the Company fully paid all due bond obligations, and its subsidiary, TTC Land – the investor of the TTC Plaza Da Nang project – received tax refund approval from the tax authorities and has already received over 78 billion VND. These results contribute to improving financial capacity, increasing capital autonomy, and creating favorable conditions for the Company to implement key projects in the next phase.
Previously, the TTC Plaza Da Nang project, developed by TTC Land, entered the operational and cash flow generation phase with the official opening of the AEON MALL shopping center within the project on July 3, 2026.
The Transition from Restructuring to Growth
The completion of legal procedures and preparation for implementation of Panomax River Villa – Lot K marks a significant shift in TTC Land's development strategy, moving from a restructuring and foundation-building phase to a phase of land acquisition and value creation.
As key projects are successively implemented and commercialized, TTC Land expects to gradually expand revenue streams, improve cash flow, enhance capital efficiency, and strengthen the foundation for sustainable growth.
For shareholders and investors, Panomax River Villa – Lot K is not just a newly launched project, but also a testament to TTC Land's ability to realize its land holdings and its development strategy. With a complete legal framework and clear implementation schedule, the project is expected to gradually contribute to the Company's revenue, cash flow, and business results in the coming years, while further strengthening market confidence in the growth trajectory after the restructuring phase, thereby creating a foundation for long-term growth and increasing shareholder value.
According to Market Movements Newspaper