Many big players in real estate market remain "hidden"

Fifty-five real estate firms have listed their shares on the bourse so far with the total capitalization value of VND215 trillion. However, a lot of big players still want to seclude themselves from the public.



Reports of the Hanoi Stock Exchange (HNX) and HCMC Stock Exchange (HOSE) show that shares of 55 real estate firms are listed at the exchanges.

These include 37 firms listing on HOSE with capitalization value of VND210.381 trillion and 18 firms on Hanoi’s bourse with capitalization value of VND5 trillion.

As such, the listed real estate firms have total capitalization value of VND215 trillion, or $10 billion, accounting for 11 percent of total capitalization value of the market, worth VND1,827 trillion.

The majority of real estate firms listing on the Hanoi’s bourse have small value and small volumes of shares in circulation. The biggest firms include the C.E.O Group with capitalization of VND1.307 trillion, Vinaconex 3 – VC3 VND893 billion and Vinh Phuc Urban Development IDV VND604 bilion.

 Meanwhile, HOSE is favored by real estate firms as it has the biggest firms, such as Vingroup, FLC, Novaland and Hoang Quan.

Vingroup’s president Pham Nhat Vuong is the second biggest stock millionaire in Vietnam.

Vingroup is a listed real estate firm with the largest capitalization value – VND116.587 trillion, equal to 55 percent of total capitalization value of the 55 listed real estate firms.

Entering the bourse late last year, Novaland has the second biggest capitalization value – VND40.077 trillion, above prestigious firms such as Kinh Bac (KBC) VND6.812 trillion, FLC VND5.072 trillion and Nam Long (NLG) VND3.425 trillion.

The capitalization value of Vingroup reflects its position in the market as the leading player. The group has a series of ‘golden land plots’ with total land fund of 8,100 hectares (2015) throughout the country.

Novaland, FLC, Nam Long and Kinh Bac also had a land fund of thousands of hectares and runs projects capitalized at tens of trillions of dong.

Besides the listed firms, Vietnam has other ‘big guys’, but they are ‘hidden’.

Him Lam, Bitexco and Sun Group, Geleximco, which are developing a series of huge projects with capital of tens of trillions of dong, are some of them.

Geleximco, the group owned by Vu Van Tien, one of the most influential businessmen, has received approval from the Prime Minister for development of two ‘super-projects’ in Vung Tau City – the Cai Mep logistics center with investment capital of VND30.390 trillion and Paradise Vung Tau $2 billion.

Prior to that, Geleximco suggested a capital contribution to huge transport infrastructure projects in Vietnam with total capital of up to $50 billion.

Thanh Lich / vietnamnet