Saigon Thuong Tin Real Estate Joint Stock Company – TTC Land (HOSE: SCR) has successfully won an auction for 27.54 million shares, representing 51% of the charter capital of Tin Nghia – A Chau Investment Joint Stock Company (TNAC). Upon completion of the transaction, TTC Land’s ownership stake in TNAC is expected to increase from 36.63% to 87.63%.
Perspective view of the Kim Quy Island project (Bien Hoa, Dong Nai).
This marks the next step in TTC Land’s strategy to increase its ownership stake and operational control within a project already part of its development portfolio, rather than expanding into an entirely new venture.
TNAC is the developer of the Kim Quy Island project, located in Bien Hoa, Dong Nai Province. Spanning approximately 48 hectares, the project comprises 571 townhouses and villas distributed across three sub-zones.
Kim Quy Island is planned as an eco-urban development, integrating residential spaces with commercial facilities, educational institutions, sports amenities, and a riverside park. The project is strategically positioned to benefit from major national infrastructure developments nearing completion, including the Ho Chi Minh City Ring Road 3, the extension of the Ben Thanh – Suoi Tien Metro line, and the synchronized economic infrastructure planning for the Southeast region.
Increasing its ownership in TNAC to 87.63% upon completion of the transaction will grant TTC Land greater autonomy in project management and execution, while allowing the company to concentrate its resources on an asset that has already undergone significant preparation and development.
Previously, in May 2025, the Kim Quy Island brand was officially unveiled. At the same time, a memorandum of understanding was signed with TTC Education regarding the establishment of Yersin Primary School within the project.
A section of the Kim Quy Island project as it currently appears.
During the implementation process, nearly 13,000 m² of land has been handed over for the construction of two planned roads, QH-D35 and QH-D6, which will help connect the transport infrastructure in the project area. At present, the project is undergoing the development of infrastructure components and social facilities.
Prior to this transaction, TTC Land held a 36.63% stake in TNAC. Following the successful bid for an additional 51% of the charter capital, TTC Land’s ownership stake is expected to reach 87.63% once the transaction is finalized.
Consequently, TNAC is set to transition from an associate company into a subsidiary of TTC Land, thereby increasing the latter’s level of control over the developer of the Kim Quy Island project.
For TTC Land, the significance of this transaction extends beyond merely increasing its ownership stake; it also allows the company to concentrate resources on an existing project, enhance its management autonomy, and facilitate the execution of the project’s subsequent phases.
Source: Doanh nghiệp Kinh tế Xanh (Green Economy Business) Newspaper