Hung Thinh Land Joint Stock Company (Vietnam)

The subject - Hung Thinh Land is a key member in Hung Thinh Group's ecosystem. Its core business operation is investing and developing real estate projects. According to its website, the subject focuses on implementing residential projects like Moonlight Avenue, Hanoi Melody Residences, Richmond Quy Nhon, Lavita Thuan An, Ho Tram Complex… Since 2022, Hung Thinh Land submitted a dossier to State Securities Commission, officially launching IPO roadmap and heading to be listed on Ho Chi Minh Stock Exchange in 2023.Stepping out of Covid-19 pandemic, the real estate market had many opportunities to recover and develop. In first quarter of 2022, the real estate market stood at 2nd position in attracting foreign direct investment (nearly USD 600 million) and achieved highest M&A value in period of 5 years (nearly USD 1 billion)… The interest in real estate products increased in most segments, especially for land plots. However, since Apr 2022, the real estate market has gradually subsided with a decrease in purchasing power, starting from rural lands & land plots to mid-end & high-end apartments, villas, townhouses, resort real estate projects… Most noticeably, many leaders of big groups were caught due to serious violations and the State strictly controlled bond and credit markets than ever. Therefore, real estate investors were hard to approach capital. In the context of global economy recession, the market demand weakened more and has not actually recovered until now. Therefore, Hung Thinh Land and other companies in the same field will continue to face with difficulties in upcoming time.