Saigon Thuong Tin Real Estate Joint Stock Company – TTC Land (ticker: SCR) has just announced information related to the 2024 Annual General Meeting of Shareholders.
In 2024, despite the overall market and the real estate sector still facing many challenges, TTC Land has continued to record growth, affirming its flexible and effective business strategy.
TTC Plaza Đà Nẵng, a modern commercial and office complex combined with high-end serviced apartments, is expected to generate stable revenue for TTC Land in the upcoming period.
According to the documents for the 2024 Annual General Meeting of Shareholders, TTC Land submitted for approval the 2025 business plan, projecting revenue of VND 800 billion and pre-tax profit of VND 50 billion — an increase of over 200% compared to the cautious target of just VND 16 billion pre-tax profit set at the 2023 AGM, and an increase of over 50% compared to actual performance in 2024.
TTC Land stated that the 2025 revenue and profit plan was developed based on a comprehensive assessment of current resources and market trends. This plan reflects a feasible growth objective, built upon solid revenue streams and aligned with the current market context.
The key pillars of TTC Land's revenue structure include: handover of apartments in Lot J of the Panomax River Villa project (District 7, Ho Chi Minh City), handover of the commercial podium of TTC Plaza Đà Nẵng to AeonMall Vietnam, and sales at TTC Plaza Đà Nẵng and the Cù Lao Tân Vạn project (Đồng Nai). Among these, the handover of Lot J apartments at Panomax River Villa and the commercial podium at TTC Plaza Đà Nẵng to AeonMall Vietnam represent actual revenue recognition activities, demonstrating the execution and project delivery capabilities of TTC Land and its affiliated project development companies.
In addition to continuing the completion and handover of current projects, TTC Land expects 2025 revenue growth to be driven by its strategy of accelerating business operations at high-potential projects. Most notably, TTC Plaza Đà Nẵng — a modern commercial and office complex combined with high-end serviced apartments — is expected to become a new highlight in the vibrant coastal city center.
The Cù Lao Tân Vạn project holds strong development potential thanks to its infrastructure connectivity.
In addition, the Cù Lao Tân Vạn project in Đồng Nai is also attracting significant attention. Covering an area of up to 48 hectares, it is a mixed-use complex integrating residential, service, and tourism zones, strategically located within the key southern economic triangle of Ho Chi Minh City – Đồng Nai – Bình Dương. The project not only has strong development potential thanks to convenient infrastructure connectivity but also plays the role of a major commercial gateway for the region. Notably, it will greatly benefit when the Tân Vạn interchange — a crucial connection point on Ring Road 3 — is targeted for basic completion by the end of 2025 by Bình Dương Province. This is expected to be a major boost for regional real estate value, while also affirming TTC Land’s strategic vision and its ability to "anticipate trends" in long-term investments.
The launch of sales at high-potential new projects reflects TTC Land’s dual focus on resolving existing inventories while preparing for a new development cycle, aligned with the real estate market’s recovery expected in the latter half of 2024 and early 2025, as government policies begin to take practical effect.
A notable highlight in TTC Land’s plan is its continued effective exploitation of commercial leasing. With a target occupancy rate of 98% at prime-location projects such as Belleza, Phú Lợi, Jamona City, Charmington La Pointe, TTC Plaza Bình Thạnh, Âu Cơ, etc., this segment is expected to remain a stable and sustainable revenue stream, ensuring healthy cash flow even as the sales segment still faces challenges. This is a major advantage in the context of a volatile real estate market. A high occupancy rate (98%) reflects the quality of assets and the effective management and operation capabilities of TTC Land and its affiliated operating companies.
According to analysts, TTC Land’s 2025 business plan reflects a flexible yet cautious strategic direction, focusing on effectively utilizing existing assets and projects ready for handover, while ensuring stable income from leasing activities. This is seen as an appropriate approach in a market that still requires stability and certainty.
Alongside financial growth goals, TTC Land remains committed to harmonious development with the community and environment. Its projects are planned with a focus on being green, smart, energy-efficient, and optimizing functional space. The company also promotes standard corporate governance, aiming toward ESG goals to enhance long-term value for shareholders and partners.
Presenting this plan at the 2024 Annual General Meeting of Shareholders demonstrates transparency in governance and reaffirms TTC Land’s commitment to shareholder roles and expectations in the company’s path toward sustainable development.
According to Investment Newspaper