Estate developer FLC Group will increase its property product supply by 30 per cent this year, said Trinh Van Quyet, FLC’s chairman. According to Quyet, the group’s integrated revenue reached VND110 trillion (US$4.83 billion) last year, most of which came from real estate projects.
“In recent years, FLC has become one of the branded property names, with high evaluation from the market and breakthrough developments. Hotels and villas in resorts have been one of our main sources of revenue,” he said.
In 2017, FLC completed the construction of FLC Ha Long in Quang Ninh Province. The group currently has resort complexes in Vinh Phuc, Thanh Hoa and Binh Dinh provinces. It has provided some 2,800 hotel apartments, 1,800 villas and 2,000 commercial apartments to the market.
FLC targets a revenue of VND14 trillion in 2018 to maintain its leading position in the resort property segment in Viet Nam, said Pham Van Nam, deputy head of FLC’s marketing department.
Nam said FLC had more than 20 agents distributing estates nationwide.
“Our revenue of resort complexes in the last two quarters of 2017 reached record levels. Most of our events to introduce or sell our projects attracted 500 to 1,500 investors,” he said.
Condotel to be main business
According to FLC, condotel will continue to be the biggest segment of the group’s estate projects in 2018 as the business model has proved effective for investors.
The group will also give priority to developing middle-income property projects to meet the increasing demand in the market.
“FLC will continue to complete and expand projects, including FLC Quy Nhon, FLC Sam Son, FLC Ha Long and FLC Vinh Phuc, as well as introduce a range of new projects, including FLC Quang Binh and FLC Do Son,” the group said in a statement.