Recently, Toan Hai Van Joint Stock Company, in collaboration with Coteccons Construction Joint Stock Company, held the groundbreaking ceremony for Phase 2 of the Selavia Complex Project at Vinh Dam, Duong To Commune, Phu Quoc City. As a strategic investment partner, TTC Land continues to accompany the development of the high-end resort subdivision, contributing to the growth of the tourism ecosystem on the pearl island.
At the end of 2024, Saigon Thuong Tin Real Estate Joint Stock Company – TTC Land (HOSE: SCR) announced a plan to issue VND 850 billion in bonds to collaborate with Toan Hai Van JSC (TTC Phu Quoc) in developing the Selavia project, with a total capital contribution of up to VND 2.245 trillion. The project includes a resort complex, tourism services, and high-end amenities, aiming to become a premier destination in Phu Quoc.
The groundbreaking ceremony not only marked a key milestone in realizing TTC Phu Quoc’s vision of “Golden Lotus on the Pearl Island” but also underscored TTC Land’s strategic expansion in the luxury resort real estate sector.
Spanning 290 hectares, the Selavia project is Vietnam’s first artificial island, inspired by the national flower – the lotus. Designed as a high-end tourism and resort ecosystem, Selavia features a variety of real estate offerings, including hotels, resorts, entertainment complexes, shopping centers, vibrant shophouses, and beachfront villas. TTC Land’s investment in the resort subdivision enhances the value of the luxury real estate market while reinforcing the company’s long-term development vision.
The launch of this new phase represents a significant milestone in TTC Land’s strategy to expand its investment portfolio in the resort sector. This move not only enhances commercial potential but also strengthens the company’s position in the premium real estate market.
The rapid development of tourism infrastructure has solidified Phu Quoc’s status as a top-tier destination in the region. Experts note that the island continues to experience impressive growth in tourist arrivals, fueling high demand for luxury accommodations. Notably, with Vietnam set to host APEC 2027, Phu Quoc is expected to become a hub for international visitors, creating significant opportunities for the resort real estate market, including Selavia.
With its luxurious design, well-planned layout, and strategic location, Selavia is poised to become the new icon of South Phu Quoc’s resort landscape.
Alongside its investment in Selavia, TTC Land is also accelerating the development of suburban residential projects in the greater Ho Chi Minh City area and satellite cities, ensuring stable revenue streams and optimal land-use efficiency. This strategic direction supports the company’s sustainable growth while laying the foundation for expansion plans from 2025 to 2030.
Recently, Thanh Thanh Cong Industrial Park JSC – a corporate shareholder related to TTC Land’s Chairman, Mr. Nguyen Thanh Chuong – registered to purchase an additional 3 million SCR shares following a debt-to-equity conversion in the company’s 2024 capital increase plan. The total transaction value is estimated at VND 30 billion (at face value) and is expected to be completed by March 26, 2025, raising its ownership stake in TTC Land to 2% of charter capital.
Following a series of strategic moves, SCR’s stock price closed at VND 6,390 per share on February 25, 2025, reflecting an increase of nearly 16% since the beginning of the year – the highest in the past six months. This upward trend highlights investors' confidence in TTC Land’s prospects in the luxury resort and commercial real estate sectors.
Source: Green Economy Enterprises