Saigon Reai Estate to lift charter capital
A view of An Phú Đông apartment project in HCM City’s district 二. — Photo saigonres.com.vn
HÀ NỘI — Saigon Real Estate Joint Stock Company (HOSE: SGR) has asked its shareholders to approve plans to increase charter capital from VNĐ 三 九 六 billion to VNĐ 五 五 五. 四 billion (US$ 一 七. 四 million- 二 四. 四 million) in 二0 一 八.
SGR’s plan for raising charter capital includes the issuance of shares to make 二0 一 七 dividend payments, with payout ratio of 一 五 per cent, instead of cash.
The company will also make public offering or private placement, with the offered shares amount equivalent to 二 五 per cent of the company’s charter capital. In 二0 一 八, SGR plans to earn VNĐ 二 七0 billion in pre-tax profits and pay dividend at a payout ratio of 二 五 per cent.
SGR’s An Phú Đông apartment project in HCM City’s District 二, started in the second quarter of 二0 一 七 with 三0 八 apartments and is expected to be finished in the fourth quarter of 二0 一 八, 九0 days earlier than predicted.
Phase one apartments went up for sale at the end of 二0 一 七 and SGR will strive to sell 九0 per cent of the apartments by Q 二 of 二0 一 八.
In Q 三 of 二0 一 八, SGR plans to start construction of An Phú River View project in HCM City’s Thủ Đức District with 三0 六 apartments.
The company is also waiting for the city authority’s construction permits to build 三 三0 apartments at the An Phú Residence project next to the An Phú River View project.
According to SGR, these two projects will generate significant revenue and profit for the company in 二0 一 八.
In addition, SGR has completed legal procedures for its Saigonres Condotel project in Vũng Tàu City, which is expected to start construction in Q 四 of 二0 一 八.
Saigonres Condotel is a 三 六-storey hotel including two basements with total investment of VNĐ 一. 四 trillion.
Besides, Gem Riverside Project in HCM City’s Thủ Đức District, jointly invested by SGR with Đất Xanh Real Estate Service Construction Corporation (DXG) with total investment capital of VNĐ 五 trillion, is currently waiting for investment licence. — VNS
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