BIM Land’s Struggles and Potential for Growth: A Look at the Real Estate Giant’s Financial Status and Future Developments

In 2018, BIM Real Estate Joint Stock Company (BIM Land) reported a significant decrease in after-tax profit, falling to approximately 798 billion VND. This marked the lowest profit level in the last five years for the real estate giant. However, despite this setback, BIM Land’s profit is forecasted to range from 945 billion to over 2,000 billion VND in the period from 2019 to 2022, showing potential for growth.

By the end of last year, BIM Land’s equity exceeded 4,740 billion VND, while its liabilities increased to more than 21,880 billion VND. The company’s outstanding bond debt stood at approximately 5,285 billion VND, slightly lower than the previous year. In September 2023, BIM Land successfully issued a batch of bonds worth more than 2,300 billion VND with an interest rate of 10.4% per year.

BIM Land is a member of BIM Group headquartered in Quang Ninh province and owns a significant land fund in various locations including Quang Ninh, Phu Quoc, Hanoi, Ninh Thuan and Laos. The company has developed numerous luxury hotels such as Park Hyatt and Regent Resort & Spa and apartments villas townhouses and commercial centers collaborating with international giants such as Park Hyatt Regent InterContinental.

In recent years, BIM Land has signed management contracts with IHG Hotels & Resorts to develop luxury resorts in Vietnam including the first InterContinental brand valley resort located in Vinh Phuc province which is part of the Thanh Xuan Valley tourist urban area. Despite challenges in the past year