BIM Real Estate Joint Stock Company (BIM Land) reported a significant decrease in after-tax profit last year, falling to about 798 billion VND. This marks the lowest profit level in the last five years for the real estate giant. Despite this, BIM Land’s profit is forecasted to range from 945 billion to over 2,000 billion VND in the period from 2019 to 2022, showing potential for growth.
Despite the challenges faced by BIM Land in recent years, the company’s equity exceeded 4,740 billion VND at the end of last year, while its liabilities increased to more than 21,880 billion VND. The company’s outstanding bond debt stood at approximately 5,285 billion VND, slightly lower than the previous year. In September 2023, BIM Land successfully issued a batch of bonds worth more than 2,300 billion VND with an interest rate of 10.4% per year.
BIM Land is a member of BIM Group headquartered in Quang Ninh province and owns a significant land fund in various locations including Quang Ninh, Phu Quoc, Hanoi, Ninh Thuan and Laos. The company has developed numerous luxury hotels, resorts apartments villas townhouses and commercial centers collaborating with international giants such as Park Hyatt Regent InterContinental.
Last year BIM Land signed a management contract with IHG Hotels & Resorts to develop the first InterContinental brand valley resort in Vietnam located in Vinh Phuc province which is part of Thanh Xuan Valley tourist urban area. Despite facing challenges in recent years BIM Land continues to expand and innovate its real estate developments paving way for future growth and success
