After a period of quiet due to common challenges, in the final months of 2024, TTC Land has proactively implemented suitable strategies to get ahead of the new growth cycle.
Expanding Land Bank, Investing in Potential Markets
Recently, after announcing its Q3 2024 results, surpassing the annual profit target with revenue reaching VND 329 billion and pre-tax profit of VND 22 billion—representing increases of 20.5% and 37% year-over-year, and achieving 137% of the annual profit plan—TTC Land has continued to implement various activities to actualize its business strategy, positioning itself to lead in the upcoming growth cycle.
With over 20 years in the market, TTC Land is well-known for its projects primarily in Ho Chi Minh City and other provinces such as Dong Nai, Lam Dong, and Da Nang. Recently, TTC Land announced the opening of a new business location in Binh Duong, demonstrating the company's ambition to develop and expand into potential neighboring markets.
According to TTC Land, in addition to its existing land bank, the company has been seeking projects in satellite urban areas near Ho Chi Minh City, like Binh Duong and Tay Ninh, where there is strong infrastructure connectivity. The company prioritizes investment in clean land with clear legal status and quick development timelines. In line with its new strategic cycle from 2026 to 2030, TTC Land will focus on developing residential and satellite urban areas, with plans to expand its residential land bank by approximately 42 hectares in Tay Ninh and 11 hectares in Long An, laying the groundwork for future growth.
Focusing on Expanding Rental Real Estate and Seizing International Collaboration Opportunities
In recent years, despite the challenging real estate market, TTC Land has sustained stable income through rental revenue from commercial spaces at projects like TTC Plaza Duc Trong, Charmington La Pointe, and Belleza, maintaining an occupancy rate consistently above 85%.
With a strategic focus on the rental segment as a core business component, TTC Land recently made notable strides by partnering with Beta Media, part of the Beta Group ecosystem. Through this collaboration, Beta Media has entered long-term leases for TTC Land’s properties to develop AEON BETA Cinemas, a joint venture between Beta Media and Japan’s AEON Entertainment. This partnership is set to provide TTC Land with stable long-term revenue.
Earlier, on September 9, 2024, TTC Land and AEON Mall Vietnam completed a lease agreement for the full commercial podium of the TTC Plaza Da Nang project—a complex located on Dien Bien Phu Street, Thanh Khe District, Da Nang City. This space will host an AEON Mall spanning four floors. Besides the mall, TTC Plaza Da Nang will include serviced apartments, office rentals, a 4-star international standard hotel, fine dining restaurants, an outdoor relaxation garden, a pool-bar, and a fully-equipped wedding and conference center. This "Stay - Work - Play" complex is expected to meet the needs of Da Nang residents and tourists alike, marking a significant source of rental revenue for TTC Land in the coming period.
Ms. Huynh Bich Ngoc, Permanent Vice Chairwoman and CEO of TTC Group, and Dr. Huilian Duan, Managing Director of TUI BLUE Asia (fifth from the left), along with leaders from both sides, at a cooperative meeting in October 2024.
In October 2024, TTC Group and TTC Land executives held meetings with international partners, including TUI BLUE (a subsidiary of TUI Group) – the world’s largest tourism and travel conglomerate based in Germany – to discuss collaboration on the operation, management, and utilization of the hotel segment in the TTC Plaza Da Nang project. This partnership with prominent global hotel operators underscores TTC Land's commitment to providing quality service for its customers.
One decisive move in TTC Land's strategy to strengthen its rental real estate segment is the ongoing lawsuit against Hoa Binh Corporation to reclaim the premises of the TTC Plaza Binh Thanh project. With over 20,000 square meters of construction space, comprising nine floors and one basement, TTC Plaza Binh Thanh is the first commercial center combined with office rentals in Ho Chi Minh City developed by TTC Land.
TTC Land is determined to reclaim the premises of the TTC Plaza Binh Thanh project to stabilize its rental business operations.
TTC Plaza Binh Thanh is a major revenue-generating project for TTC Land's core operations, significantly contributing to commercial rental income and ensuring long-term revenue for the company. Therefore, reclaiming the premises and resuming business operations will help stabilize the company's revenue stream.
Via Cong Thuong