Khang Dien Group (KDH) organized the Annual General Meeting of Shareholders in 2024

Khang Dien Group (KDH) successfully held its Annual General Meeting of Shareholders for 2024 on April 23rd at Lotte Saigon Hotel, District 1, Ho Chi Minh City. Shareholders approved key points regarding the company’s performance in 2023 and plans for 2024.
2023 continued a difficult year for the real estate companies. Given that situation, Khang Dien had made every effort to overcome the difficulties and challenges from the market, getting consistency on the goal of sustainability, based on the transparent legal foundation and quality product. In 2023:

• Partnered with Keppel Corporation Limited and Keppel Vietnam Fund (KVF) to jointly develop 2 residential projects in Thu Duc City, HCMC. The projects are expected to provide the market with more than 200 landed housing and more than 600 high-rise apartments.
• Enhanced sales of remaining products of The Classia townhouse project in Thu Duc City (handed over houses and pink book to the home buyers from 2022). By the end of 2023, 95% of the units of the project had been sold.
• Successfully launched The Privia project, enhancing the reputation and capacity of the Group. The Privia is located in Binh Tan District, with more than 1.000 condos.

The Privia was officially launched when its legal documents were completed, building trust for customers, and achieving good transactions.

KDH achieved encouraging result, total net revenue and profit after tax respectively reached VND 2,088 billion and VND 716 billion. This outcome was mainly resulted from The Classia project. The performance of The Privia project will be reflected in the business result of 2024.
Owner’s equity reached VND 15,523 billion, accounting for 59% of total capital, becoming the major source of capital forming the Company’s total assets. Total liabilities/total equity less than 1.0,  signifying a strong financial structure with a healthy liability-to-equity ratio.

The Classia received positive response from customers

In 2024, Khang Dien Group (KDH) plans to focus on stable and effective operation: develop 6 hectares of area and 5.8 hectares of area in the partnership with Keppel Corporation Limited in Binh Trung Dong Ward, Thu City (District 2), HCMC, which are expected to open for sales at the end of 2024 when metting all the legal and regulatory requirements. Besides, KDH plan to complete construction and handle over house and pink book to the residents at The Privia project.

The Privia was at top-out of towers and in the construction progress

Based on the business orientation, KDH expects a 2024’s revenue of VND 3,900 billion and profit after tax of VND 790 billion.
In addition, The General Shareholders Meeting approved 2024’s dividend payment plan of 10%.