Mai Vien Real Estate reported a significant increase in profit after tax last year, reaching over 213 billion VND. This was a 65% increase in equity, bringing the company’s total equity to nearly 543 billion VND. Although liabilities slightly increased by 0.9% to almost 814 billion VND, the debt-to-capital ratio decreased to about 1.5 times, which is considered low compared to the industry average.
The shopping center segment has been experiencing positive growth for two consecutive years, with last year’s profit more than 14 times higher than the previous year. On average, Cantavil Premier shopping center earns about 580 million VND per day. Located in Ho Chi Minh City, the shopping center has attracted well-known tenants such as Big C and Xiaomi.
Ms. Nguyen Thao Phuong is both the director and legal representative of Mai Vien Real Estate and also holds these positions at Fusion Suites Saigon Hotel Joint Stock Company. The company issued bonds worth 600 billion VND with an interest rate of 11.5% per year and spent 69 billion VND on interest payments last year.
The real estate service companies are optimistic about the retail market due to increasing demand from foreign brands and limited supply in inner-city shopping centers. The rising rental prices in major cities like Hanoi and Ho Chi Minh City have contributed positively to this trend.
Mai Vien Real Estate’s large profits reflect a positive trend in the retail market and indicate that there is still room for growth in this sector. With well-known tenants like Big C and Xiaomi, Cantavil Premier shopping center continues to attract customers and generate revenue for its investors.
In conclusion, Mai Vien Real Estate’s significant increase in profit after tax last year is a testament to its successful investment strategy in the retail market. As the industry continues to grow, Mai Vien Real Estate is well positioned to capitalize on this trend and continue its profitable operations in Ho Chi Minh City and beyond.
