Mai Vien Real Estate’s Investment in Cantavil Premier Brings a Profitable Future
Mai Vien Real Estate, the investor of Cantavil Premier, experienced a remarkable increase in profit after tax last year. The company’s earnings reached over 213 billion VND, an impressive 14-fold increase from the previous year. This growth has been attributed to the strong performance of the shopping center segment. According to CBRE, rental prices in retail real estate in Hanoi and Ho Chi Minh City saw an increase last year, with average rental prices in Ho Chi Minh City reaching nearly 240 USD per square meter per month. The demand for retail space from foreign brands is on the rise while supply remains limited, leading to nearly full occupancy in inner-city shopping centers.
Cantavil Premier, located in Ho Chi Minh City, has been operating for ten years and has attracted well-known tenants such as Big C supermarket and Xiaomi technology company. Ms. Nguyen Thao Phuong, the director and legal representative of MVJ, also holds the same position at Fusion Suites Saigon Hotel in District 1. The hotel is used as collateral for Mai Vien Real Estate’s 600 billion VND bond batch.
Mai Vien Real Estate issued a batch of bonds worth 600 billion VND in 2021 with an interest rate of 11.5% per year. They paid 69 billion VND in interest on this mobilization last year without any late payments reported by the Hanoi Stock Exchange (HNX). The company’s debt-to-capital ratio is about 1.5 times, which is considered low in the real estate industry. This reflects positive trends towards debt management and financial stability within Mai Vien Real Estate’s operations.
Overall, Mai Vien Real Estate’s success in investing in Cantavil Premier and its strong performance within the retail sector indicates a profitable future for both companies and further growth opportunities within Vietnam’s real estate market.
