corporate presentation - vinhomes€¦ · corporate presentation where happiness lives ......

Corporate Presentation

where happiness lives

September 2019

1

Disclaimer

IMPORTANT: The information contained herein is preliminary and subject to change without notice, its accuracy is not guaranteed, has not been independently verified and may not contain all material

information concerning Vinhomes Joint Stock Company (the “Company”) and its subsidiaries (the “Group”). You should not rely upon it or use it to form the basis for any investment decision or

commitment whatsoever.

None of the Company, its shareholders, or any of their respective affiliates, directors, officers, employees, agents, advisers or any other person makes any representation or warranty (express or

implied) or accepts any responsibility or liability for the accuracy or completeness of this presentation or any or all of the information in this presentation or otherwise made available. It is not the

intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the financial or trading position or prospects of the Group. No part of this

presentation shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Further, nothing in this presentation should be construed as constituting legal,

business, tax or financial advice. You should conduct such independent investigations and analysis of the Group as you deem necessary or appropriate in order to make an independent determination

of the suitability, merits and consequences of investment in the Company.

This presentation contains “forward-looking statements”. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company’s control and

all of which are based on management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as

“believe”, “expects”, “may”, “will”, “could”, “should”, “shall”, “risk”, “intends”, “estimates”, “aims”, “targets”, “plans”, “predicts”, “continues”, “assumes”, “positioned” or “anticipates” or the negative thereof,

other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are not guarantees of future

performance. These forward-looking statements speak only as at the date of this presentation, and none of the company, its shareholders, or any of their respective affiliates, directors, officers,

employees, agents, advisers or any other person undertakes to update or revise any forward-looking statements as a result of new information or to reflect future events or circumstances.

2

Vietnam's #1 Integrated Real Estate Developer

Key Highlights

Dominant market share of 18%(1) across ALL residential segments in Vietnam, 4.5x the next largest

developer. In the premium segment, Vinhomes has a significant market share of c.40%(3)

Notes: (1) Based on number of units sold across all segments in the residential market of HCMC and Hanoi between 2016 and 6M2019, according to CBRE. (2) Based on number of units sold in the mid-end segment in HCMC and Hanoi in 2018, according to CBRE. (3) Based on number of units sold in the

high-end and luxury condominium segments in HCMC and Hanoi from 2016-6M2019, according to CBRE. (4) Based on 88mm sqm total GFA for sale divided by average amount of residential GFA sold annually from 2018 – 2020..

Dominant Real Estate

Developer and a

Community and Lifestyle

Creator Experiencing

Accelerating Growth

Ability to Harness

Vingroup Ecosystem

Vietnam Residential Set

for Multi-year Upwards

Cycle

High Earnings Visibility

Supported by Unrivalled

c.15 Year(4) Land Bank

and Sustainable

Business Model

Proven Track Record and

Rapid Cash Flow Cycle

Leading to Superior

Returns

Experienced Management

Team and Robust

Corporate Governance

Key Investment Highlights


4

Key Investment Highlights

Vietnam Residential Set for Multi-year Upwards Cycle2

Dominant Real Estate Developer and a Community and Lifestyle

Creator Experiencing Accelerating Growth3

High Earnings Visibility Supported by Unrivalled c.15 Year(1) Land

Bank and Sustainable Business Model4

Proven Track Record and Rapid Cash Flow Cycle Leading to

Superior Returns5

Ability to Harness Vingroup Ecosystem1

Experienced Management Team and Robust Corporate

Governance6


Note: (1) Based on 88mm sqm total GFA for sale divided by average amount of residential GFA sold annually from 2018 – 2020.

6

The Largest Listed Company in Vietnam

Essentials Aspirational

#1 loyalty program in Vietnam with c.7.8 million members(1)

Vingroup has established itself as a market leader across the full breadth of consumer related sectors from essentials to

aspirational.

1 Ability to Harness Vingroup Ecosystem

Automobile manufacturer, mobile

devices and technology ventures

Industrials/Technology

Comprehensive multi-format

retail operator

Consumer Retail

Integrated residential

developer in Vietnam

Residential

Healthcare and education provider

Pharmaceutical and agricultural

producer

Social Infrastructure

Hospitality and

entertainment operator

Hospitality

Retail mall owner, developer and

operator in Vietnam

Retail Leasing

(1) As of 31 August 2019

7

1.6%

2.8%

4.4%

5.0% 5.5%

6.7%

Sin

ga

pore

Th

aila

nd

Ma

laysia

Indonesia

Ph

ilippin

es

Vie

tnam

1.2%

2.1%

2.7%2.9% 2.9%

3.9%

Sin

ga

pore

Th

aila

nd

Mala

ysia

Ph

ilippin

es

Indonesia

Vie

tnam

20.222.8 24.4

35.9 35.5

2014 2015 2016 2017 2018

Source: CBRE Vietnam, Euromonitor, Oxford Economics 2018, EIU, Colliers, JLL Research, BMI, World Bank

Note: (1) Middle income population defined as households with income of more than US$10,000 per annum. (2) For condominium market in HCMC and Hanoi only; based on CBRE condominium demand model and annual condominium demand of 186,000 units in 2022E.

Fastest Growing Economy in Southeast Asia with Strongest Middle Income

Growth2018 – 2020E Real GDP Growth (%)

Second Highest Population Proportion Among WorkforcePopulation with Age Range Between 25 – 44 as % of Total Population

Middle Income Population(1)

Growth2018 – 2020E CAGR (%)

33.0% 32.9%

30.6%

29.9% 29.5%

28.4% 28.4% 28.2%

Malaysia Vietnam Indonesia Myanmar Laos Thailand Singapore Philippines

Fastest Urban Population Growth in Southeast Asia, with

Significant Room to RunUrban Population 2018A – 2025E Growth (%)

Increasing Inflow of FDIRegistered FDI (US$bn) / Cumulative Contribution of FDI by Sectors (%)

Manufacturing47%

Real estate19%

Power5%

Others29%

Revised housing regulations for foreigners from 1 July 2015

Foreign Vietnamese can now buy several residential properties in Vietnam if they have

valid visas

Foreigners can now buy leasehold residential if they have an entry visa

Real Estate accounts for 19% of FDI in 2018

Vietnam’s Urbanization Rate by Year

(%)

Total addressable market to rise by

c. 3.3x to c. 186k condominium units per

annum(2) by 2022E

Proportion of urban households in Vietnam

set to increase at a CAGR of 3.9% over

2018 – 2025E

35.2% 35.9%

41.0%

2017 2018 2025E

29.9%

16.2%

11.3%

2.5% 2.5% 2.4%

Vie

tnam

Indonesia

Ph

ilippin

es

Ma

laysia

Sin

ga

pore

Th

aila

nd

2 Unique Vietnamese Fundamentals for Home Ownership

8

Vietnam’s Housing Significantly More Affordable Than Regional PeersHome Price-to-Income Ratio (x) in 2017(1)

Average 6.0

4.0

4.7 4.9

6.9

7.5

HCMC Kuala Lumpur Jakarta Bangkok Manila

Vietnam Residential Market Set to Take Off

Source: Market research, JLL. Note: (1) Based on top quintile household incomes and an entry level apartments across cities. (2) Represents lending rate for housing loans offered for the first year of the loan term. (3) Represents deposit rate offered for the 12-month terms by a number of notable commercial

banks as at 31 Dec 2018.

2

Vietnam’s Mortgage Market is Significantly Underpenetrated Compared to

Regional PeersTotal Home Mortgage Loans Outstanding as % of GDP in 2018

5.7%8.4%

22.7%

40.1%

51.0%

Vietnam Philippines Thailand Malaysia Singapore

Average 30.6%

Vietnamese Residential Prices have Significant Room to RunPrime Residential Price Growth

(Index: 2006 = 100)

Residential

upside

potential

Inflation and Interest Rate Sustained at Low Levels

9.2

6.6

4.1

0.6

2.7

3.5 3.5

13.5%

7.6% 7.5%

6.9%

0%

2%

4%

6%

8%

10%

12%

14%

16%

0

1

2

3

4

5

6

7

8

9

10

2012 2013 2014 2015 2016 2017 2018

Avera

ge

Average CPI (Y-o-Y) Lending Rate Deposit Rate

75

100

125

150

175

200

225

250

275

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

HCMCBangkokKuala LumpurManilaShanghai

(2) (3)

9

Vinhomes Poised to Benefit from Higher Condominium Absorption in Vietnam

Natural Growth in Number

of Households

Accelerated Increase in Demand for

Condominiums in HCMC & Hanoi

Significant Multi-Year Growth

Potential vs. Regional Peers

7.3 7.8 87.9 8.6

13.0

90.73

94.66

100.2

2014 2018 2022E

Hanoi population (mm)

HCMC population (mm)

Vietnam population (mm)

Population in Vietnam Annual Condominium Demand in HCMC &

Hanoi

Source: Euromonitor, CBRE. Note: (1) CBRE estimates 67.6% home ownership rate in Vietnam for 2018. (2) CBRE estimates that proportion of household who own a condominium in Hanoi/HCMC ranges from 9 – 16% as of 2018.

Total addressable market for condominiums in HCMC & Hanoi to rise by c. 3.3x by 2022

16 25

84

18

31

102

2014 2018 2022E

Demand for Condominium Units (Hanoi) ('000 units)

Demand for Condominium Units (HCMC) ('000 units)

~186,000

~56,000~34,000

c. 3.3x

increase

• Rising affluence and income will lift

household ownership (1) and conversion

into condominium units(2)

• 2018 absorption of 56k is relatively small

when compared with natural household

creation level – CBRE expects demand to

catch up to 186k (3.3x increase) by 2022E

• Nationwide numbers are likely higher,

presenting opportunities to Vinhomes

• Population in Vietnam is expected to grow

from 94.66mm to 100.2mm in the 4 years

from 2018 to 2022E

• Expected to increase number of household

units by 1.0mm in 2022E or 238k annually

• Potential housing demand of up to

800,000 housing units per annum on

average from 2018 to 2022 in Ho Chi Minh

City and Hanoi

• HCM and Hanoi addressable

condominium market is a small fraction

compared with regional peers due to

affordability and mortgage availability

• With improvements in both, the scope for

growth in the condominium addressable

market is significant

203

58

27 23

Shanghai (*) Bangkok (*) HCMC Hanoi

Average Annual Sales Volume 2013 – 2018 (‘000 units)

HCMC & Hanoi have Significant Room for

Expansion in Absorption Compared to

Regional Peers

7.5x

HCMC8.8x

Hanoi

2

(*)Shanghai and Bangkok number calculated from 2013 - 2017

10

Consumer Retail Retail Property Medical School

Hospitality /

Entertainment

161

7 7 5

Vinhomes Novaland Nam Long Khang Dien

High-EndAffordable LuxuryMid-End

Capturing the Huge Middle Income Opportunity with the

Vinhomes Sapphire Brand

Source: CBRE, Company Filings. Notes: Based on USDVND of 21,095 for 2013; 21,388 for 2014; 22,485 for 2015; 22,761 for 2016; 22,698 for 2017 and 23,240 for 2018, 23,250 for 8M2019. (1) Based on total number of residential units sold by Vinhomes from 2010 to 2017 as a business line of Vingroup and

2018, 8M2019 as an entity. (2) Based on all launched Vinhomes residential projects as a business line of Vingroup from 2010 to 2017 and as an entity in 2018 and 8M2019. (3) Based on accumulated sold units in 2016 – 6M2019 across all segments in the residential market of HCMC and Hanoi, according to

CBRE. (4) Based on accumulated sold units in the high-end and luxury condominium segments in HCMC and Hanoi from 2016-2018, according to CBRE. (5) As of 30 June 2019. (6) Including apartments, officetel, shophouses, shop office, beach villa, clubhouse for sale, beach villa and condo-tel. Excludes

completed projects.

Land bank (mm sqm)

Vinhomes

Sapphire

Largest Land Bank Expected to Deliver Sustainability and

GrowthDominance of Vietnam Residential Market by a

Significant Margin

• ~91,000(1) Residential Units Sold Since 2010

• US$13.9bn(2) of GDV Sold since 2010

18%(3)

Residential market share in Vietnam across ALL segments

Unbilled bookings of US$3.4bn as of 31 August 2019

Strong Track Record of Historical Sales Value

(5)

c.37%(4)

Residential market share in Vietnam across

premium segment

US$bn 2010 – 2015 2016 2017 2018 8M2019

Historical Sales Value 2.9 2.7 3.0 2.9 2.4

Translates to 88mm sqm of residential GFA(5)(6)

Complete Ecosystem of Complementary Offerings at Each Site with an Emphasis on Quality

~20x the land bank of next largest competitor

3



Vinhomes

RubyVinhomes

Diamond

Happy

Town

Dominant Real Estate Developer and a Community and Lifestyle Creator Experiencing Accelerating Growth

VinhomesOthers

Vinhomes

Keppel Land

Thao Dien

CapitalLand

Novaland

Others

Vinhomes

Others

Vinhomes

Hung Thinh

Dat Xanh

Novaland

Gleximco

Others

c.16%(4)

Residential market share in Vietnam across

mid-end segment

Vinhomes

Others

Vinhomes

Hung Thinh

Novaland

Dat Xanh

Vihajico

Others

12

Land Bank by Site Area

(mm sqm)

12

149

Launched Pipeline Projects

(1)

~20x the land bank of

next largest competitor

in country

In 2Q2019, Vinhomes is in last stage to record 2

million m2 out of the potential 5 million m2 into its

land bank.

Hanoi16%

HCMC34%

Quang Ninh32%

Hung Yen 13%

Hai Phong 2%

Thanh Hoa 1% Others 2%Hanoi

GFA: 15mm sqm

Ho Chi Minh City

GFA: 32mm sqm

Key

beneficiary of

upcoming

infrastructure

developments

Land bank by GFA for sale (mm sqm)(1)(2)

50% of residential GFA is located in key cities of HCMC and Hanoi

Gross development value(2) (2019 – 2024)

Total Residential GFA:

88mm sqm(3)

Hanoi, 31%

HCMC30%

Quang Ninh10%

Hung Yen24%

Hai Phong 2%

Others 3%Hanoi

No. of Projects(4): 14

Ho Chi Minh City

No. of Projects(4): 10

61% of GDV is attributable to key cities of HCMC and Hanoi

Total GDV (2019 –

2024): US$45.7bn

5

Additional projects under feasibility studies

Translates to 88mm sqm

of residential GFA(1)(2)

Note: (1) As of 26 July 2019. (2) Including apartments, officetel, shophouses, shop office, beach villa, clubhouse for sale, beach villa and condo-tel. Excludes completed projects. 88mm sqm of residential GFA converts into c. 71mm sqm of NSA. (3) Represents residential GDV only. GDV is calculated based on

net saleable area multiplied by the weighted average selling price of the project (based on middle of target ASP range per project.) (4) Includes pipeline and under construction projects

Unrivalled Land Bank in Strategic Locations forms Pillar of Growth for Vinhomes4

Significant and Sustainable Land Bank… …Allowing Vinhomes to Continue Extending its

Nationwide Presence Across Prime Sites

13

Ability to get customers to pay 70% upfront, reducing Vinhomes’

reliance on credit financing

c.87% of residential units were sold within three months of the

commencement of pre-sales in 2018 and first half of 2019(3)

Unparalleled Execution Capabilities through End-to-end Value Chain5

Comprehensive range of after-sales services to ensure Vinhomes’

buyers needs are met

Ancillary facilities such as gyms, pools, meeting areas, barbeque pits,

parks and waterways at Vinhomes properties

Ability and track record in securing the best land bank in Vietnam

Continuously search for and acquire new sites through project

development

Vinhomes’ Superior End-to-end Value Chain

33.0%

21.0%

16.6%

15.6%

5.0%

Vinhomes

Land & Houses

No Va Land

Ayala Land

BSD

After-Market Service Offering Captures

Customer & Enhances Loyalty to VinhomesUnique Selling Strategies

De-risk Development OutlaysEffective Cost and Quality

Controls to Maintain

Margins

Secures Land at

Competitive Rates

Vinhomes’ Unique Execution Capabilities Translate to Significant Competitive Advantage

Evident in Industry Leading Operational MetricsReturn-on-Assets(1) (%)

Source: Company filings

Notes: (1) Refers to net profit in 2018 divided by total assets in 2018. (2) Refers to net profit after minority interests divided by shareholder’s equity in 2018. (3) Average presale 3 months after launch date of projects opened for sale in 2018 and 1H2019

Land Acquisition

Land Clearance

Pre-sales, Sales

Research and

Marketing

Property

Management

Construction and

Quality Control

Master Planning and

Design

Master planning ability in developing and designing integrated projects

with ecosystems

Effectively assists Vietnamese state agencies in identifying land rights

holders and facilitating resettlements on the government’s behalf

Successfully shortens land clearance process from c. 2—3 years

per project to c. 9—12 months

Vincom Construction, one of the largest construction

management firms in Vietnam

Ability to control costs, quality and deadlines to ensure efficient

delivery of superior quality properties

Return-on-Equity(2) (%)

12.3%

9.4%

5.0%

4.7%

3.3%

Vinhomes

Land & Houses

Ayala Land

Novaland

BSD

Infrastructure and

Ecosystem

Significant de-risking of model through Vingroup’s ecosystem of

complementary offerings such as hospitals, schools and retail

14

Board of

Directors

Management

Team

Committed to robust

corporate governance

standards in line with

global best practices

Senior leadership with

significant depth of

experience and pedigree

Proven on-the-grounds

management team

supporting nation-wide

operations

Proven ability to hire,

train and retain talent

across business lines

Vinhomes is led by a team of highly experienced board of directors who are

supported by a experienced management team with average 22 – 23 years of experience

Cao Thi Ha An

Executive Director

>28 years experience

Project Development Director at Vingroup

since 2016

Previously Deputy CEO and Director of

Military Insurance JSC

Varun Kapur

Independent Non-Executive Director


Currently also Managing Partner of Indgrowth

Capital

Previously Partner and Managing Director at

TPG

Mueen Uddeen

Independent Non-Executive Director


Currently also Managing Director of

Arcpoint Associates Advisory

Pham Nhat Vuong

Non-Executive Director


Founder of Vingroup, formerly known as

Technocom Corporation in 1993

Chairman of Vingroup since 2011

Nguyen Viet Quang

Non-Executive Director


CEO of Vingroup

Previously Chairman at Vinmec

>11 years with Vingroup

Currently in charge of customer

services for Vinhomes

Phi Thi Thuc Nga

Dy CEO

Customer services

>16 years experience in financial

services

Appointed Deputy Chief Executive of

Finance and Investment of Vinhomes

in 2018

Chartered Accountant

Douglas Farrell

Dy CEO

Finance and Investment >16 years with Vingroup


Project Development Director of

Vingroup since 2005

Currently holds directorships in other

Vinhomes subsidiaries

Pham Thieu Hoa

CEO


>9 years experience

Previously executive at Richard Moore

Associates, Audio Visual Global and

Head of Marketing Department at Syrena

Nguyen Ngoc Thuy Linh

Dy CEO

Operations



Previously Sales and Marketing

Director at Mercedes Benz An

Du Autohaus

Nguyen Duc Quang

Dy CEO

Sales and Marketing

Nguyen Dieu Linh

Chairwoman



Vice Chairwoman of Vingroup since 2008,

previously Deputy CEO of Vingroup


Previously held directorship in

Vincom Security since 2013

Nguyen Van Trai

Dy CEO

Security, Safety and Fire Prevention



Previously Dy CEO of Vingroup

Pham Van Khuong

Dy CEO

Construction

6 Experienced Management Team and Robust Corporate Governance

15

Controls put in Place

• All transactions must be entered into on commercially reasonable basis as a statutory requirement

• Significant related party transactions must be approved by the Board of Directors or the General Meeting of

Shareholders

• Interested parties must abstain from voting

• Vinhomes to undertake Vingroup residential and office mixed-use development going forward

• Vingroup to continue holding non-residential and non-office mixed used development real estate properties in

Vietnam

• Entire project development team of Vingroup has been transferred to Vinhomes to ensure alignment of interest

• In addition, Vinhomes has ROFR on land that can be used for residential from Vingroup at cost. This ROFR

gives Vinhomes economy of scale in land sourcing and leverage of the Vingroup brand in site acquisition

• Management service fees and construction EPC contracts are calculated based on comparable third-party

service providers and Vingroup fees are allocated based on number of man hours and assets under

management

• Helps Vinhomes to manage expansion with minimum overhead as it can share resources and costs with the

rest of Vingroup

• Governed by related party rules

Corporate governance principles emphasize a quality Board, sound internal controls, transparency and accountability to all

shareholders

No conflict of

interest in decision

making

No direct

competition with

Vingroup

Clear distinction of

scope for Vinhomes

Fair market

practices

6 Institutional Level Corporate Governance

Business Strategy & Operational Updates


17

• Unique ability to offer Vingroup ecosystem, amenities, and

community environment

• Strong reputation of prompt delivery of projects / units

• Differentiated after sales management service offering – property

management, repairs and security services

• Modern apartment units catered for young and savvy

home-buyers

• Luxury apartment units that offer the most privileged living

standard

Driving Growth with New Brand Vinhomes Sapphire

Source: CBRE, JLL Research. Notes: (1) Based on accumulated sold units in the high-end and luxury condominium segments in HCMC and Hanoi from 2016-2018. (2) For condominium market only; based on CBRE condominium demand model and annual condominium demand of 186,040 units in 2022E at an

assumed price of US$127,000 per unit. (3) Percentages shown exclude 30.8% of households within the segment of household below affordable. (4) Segments include households within the respective income ranges: Luxury (more than US$85k), Premium(US$55k – US$85k), Mid-end (US$25k – US$55k),

Affordable (US$10k – US$25k) and Below Affordable (below US$10k). (5) Based on net saleable area.

Luxury

High-end

Mid-end

Affordable

1.3%(4)

0.4mm

House-

holds

4.4%(4)

1.2mm Households

19.4%(4)

5.2mm Households

44.2%(4)

12.0mm Households

oUS$2.0k

Under US$1.0k

US$1.0k

Over

US$4.0k

Ave

rag

e S

ell

ing

Pri

ce

s (

US

$ / s

qm

)(5)

Phu My

Hung

CapitaLand

Keppel Land

Novaland

Thao Dien

Investment


… driving growth from Vinhomes Sapphire brand to

capture untapped and huge addressable

market opportunity

Leverage Vinhomes’ dominant market leadership of

c.40%(1) across high-end and luxury segments…

Total addressable market of US$22.9bn(2) per annum

Vinhomes Sapphire

Vinhomes Diamond

• High-end apartments for young affluent families looking for

a modern, well-equipped and quality living environment

Vinhomes Ruby



18

Wholesale Strategy to Boost Execution and Pull Forward Revenue and Profit Recognition

Key Strategy

• Focus on the development of VHM mega projects

• Master developer in mega projects, which entails master planning, develops

infrastructure and attracts sub-developers and institutional investors to co-develop

mega projects

− Track record and financial capacity to conduct large scale infrastructure

development; hence it has credibility with other developers

− Infrastructure include schools, the hospitals, shopping malls or retail outlets,

which are mostly Vingroup branded

Benefit for Vinhomes

Earlier cash flow as compared to

retail sale

Shorter project development

period with secondary

developers concurrently building

up the project

Benefit for Customers

Greater options (international/

local schools, international/local

developers, etc.)

Larger and more amenities to

enjoy

Shorter wait time to receive unit

Benefit for Secondary

Developers

Save time and effort in land bank

replenishment as Vinhomes

mega projects have completed or

close to completed the approval

process

Utilize an integrated infrastructure

and supporting amenities


19

Operational Highlights of 2Q2019

Launching of long-awaited Vinhomes Grand Park

• Vinhomes Grand Park’s kick-off event was held on 22 June 2019 and soft launched in July

• Booking secured for c.10,000 units up to 21 Jul 2019, 100% of retail units launched

• Vinhomes Grand Park’s bulk sales: c. 6,900 units, 100% unit launched

1

Successful marketing campaign resulted strong pre-sales performance

• In May and June 2019, lagoon festival was organized to welcome ~50,000 people and contracts were signed for 1,700 units

within a month

• Vinhomes Ocean Park Ruby products were launched in 15 June 2019 with c.200 contracts signed in 2 weeks

• Continue to organize marketing events for 3 mega projects in 2H2019

2

Accomplishments of the bulk sales strategy in 2Q2019

• Deposit agreements signed for 4 blocks of Vinhomes Smart City, and 10 blocks of Vinhomes Grand Park

• Purchase agreements signed for 100% low-rise units of Vinhomes Ocean Park for c.1,700 units, remaining will be recorded in

3Q2019

3

Project injection to Vinhomes

• Vinhomes Dream City Hung Yen (456ha) has been transferred from Vingroup to Vinhomes. Effective interest of 100%

• Vinhomes’ interest in Vinhomes Grand Park is to be increased in 3Q2019. Expected effective interest of 90%

• Vinhomes Marina is to be transferred to Vinhomes in 2H2019. Expected effective interest of 100%

4

20

2Q2019 Key Events at Vinhomes

Vinhomes Grand Park’s Kick-Off Event Successful marketing campaign resulted strong pre-sales performance

Total number of units sold/deposit during this period:

~1,700 units/c. 2,800 – rise units launched in 2Q2019

On June 22, the long-awaited kick-off event for

Vinhomes Grand Park mega project, called “Light Up

The Future”, was held in Ho Chi Minh City

Over 12,000 sales people from 63 distribution

agencies participated – a record-breaking number

The 271-ha project was revealed by state-of-the-art

LED mapping technology

The events attracted ~50,000 visitors and future residents,

helped boost sales and create a good reputation as

customers could experience the amenities provided

The 24.5 ha reservoir – the project’s highlight – was

introduced for the first time

A series of entertainment events were held at Vinhomes

Ocean Park during 25 May – 30 June 2019

Bulk sales: c. 6,900 units (100% of units launched)

Retail sales: received booking for 10,007 units in July (100% of

units launched)

21

0.8

1.2

1.5

2.0

2.6

2015 2016 2017 2018 8M2019

Vinhomes Ruby/Diamond Apartments Vinhomes Sapphire Apartment

Vinhomes Villas Block sale

35.6

53.2

65.2 67.6

55.2

2015 2016 2017 2018 8M2019

Annual pre-sales (VND trillion) Pre-Sale NSA (mm sqm)

Breakdown by launched year

27.7 60.8 79.3 77.9

Unbilled bookings

69.8

Pre-Sales Momentum Continues

Project Name Location Product Type

Date

Launched

No. of

Apartments/

Villas

Launched

NSA

launched

(sqm)

NSA pre-sold

(sqm) % pre-sold (1)

Estimated

delivery start

date

Apartments/

Villas

pre-sold in

8M2019

(units)

Pre-sales

secured in

8M2019

(billion VND)

Vinhomes Ocean Park Hanoi High-rise Oct-18 21,771 1,271,661 869,184 68% 2019 7,470 9,430

Vinhomes Ocean Park Hanoi Low-rise Oct-18 2,395 638,022 638,022 100% 2019 887 7,159

Vinhomes Smart City Hanoi High-rise Dec-18 14,909 1,016,192 784,164 77% 2020 7,793 8,415

Vinhomes Grand Park HCMC High-rise Jul-19 16,867 1,046,238 1,045,259 100% 2020 16,852 23,648

Others(2)

4,034 895,116 675,343 75% 685 3,417

Total 59,976 4,867,229 4,011,971 82% 33,687 52,068

Note: (1) Percentage of pre-sold is calculated by NSA pre-sold over total NSA launched. (2) Include Vinhomes West Point, Vinhomes New Center Ha Tinh, Vinhomes Marina and Vinhomes Star City Thanh Hoa

22

Vinhomes Ocean Park Vinhomes Smart City Vinhomes Grand Park

Location • Gia Lam District, Hanoi • Nam Tu Liem District, Hanoi • District 9, Ho Chi Minh city

Product size area • 420 ha • 280 ha • 271 ha

Construction start date • 2018 • 2018 • 2018

Estimated delivery start

date

• Dec 2019 • 2020 • 2020

% construction

completion

• 30 Jun 2019: 18%

• Estimated 31 Dec 2019: 36%

• 30 Jun 2019: 14%


• 30 Jun 2019: 13%


Upcoming events • Regular site tours for existing and potential buyers

• Weekly Lagoon festivals to be held until end of Aug

2019

• 8 events organized at the Japanese Garden – a

highlight landscaping area in Sep 2019

• 8 entertainment events to be organized on site in Sep

2019

Number of units

launched in 2019

(# of units)

Mega-city projects

Development Status and Upcoming Launches Of Mega Cities

6.5

8.9

1.817.2

45.0

Cumulative units launched todate

Total Project Units

Total

units

launch

up to 31

Dec

2019 2.74.5

1.68.9

45.3


Total Project Units

Total

units

launch

up to

31 Dec

2019

6.9

43.6


Total Project Units

(2)

Total units

launch up to

31 Dec 2019

Bulk Sales Retail Sales To be launched in Subsequent Phases Launched Units Launched but Unsold Units

(3)

(2)

(3)

(3)

(2)

Note: (1) Picture of Vinhomes Ocean Park is taken in May 2019, pictures of Vinhomes Smart City and Vinhomes Grand Park are taken in July 2019 (2) Estimated figures, not reflecting the upcoming change in terms of number of units due to the introduction of Vinhomes Ruby and

Vinhomes Diamond, (3) Cummulative number of units lauched since inception until 30 June 2019;

23

Vinhomes Dream City Vinhomes Grand Park Vinhomes Marina

Location Hung Yen Ho Chi Minh City Hai Phong

Total project area

(including infrastructure)

456 ha 271 ha 49.2 ha

Injection status • Transferred from Vingroup to

Vinhomes

• Vinhomes’ effective interest: 100%

• Vinhomes’ interest to be increased

in 3Q2019

• Vinhomes’ expected effective

interest: 90%

• To be transferred to Vinhomes in

2H2019

• Vinhomes’ expected effective

interest: 100%

Injection method • Change of Developer

• No cost incurred

• Share transfer

• Transaction value: c. VND 18

trillion

• Project transfer

• Transfer at cost (TBD when

transaction completed)

Update on Project Injection Into Vinhomes

24

Delivery in 2019

Note: (1) Low-rise component called Vinhomes Green Villa

318 90 167 858 290 50 10

1,250

~610

140 ~180

1,760

~2,110

0

1,500

3,000

Vinhomes Star City Vinhomes The Harmony Vinhomes Metropolis Vinhomes Green Bay Vinhomes Sky Lake

Units (#)

Units Delivered or to be Delivered in 2019

Delivered in 1H19

To be Delivered in 2H19Retail SalesBulk Sales

Vinhomes The Harmony Vinhomes Metropolis Vinhomes Green Bay Vinhomes Sky Lake

1,734

55 93 236

4,810

200 10 30

6,210 6,550

260 110

270

0

1,500

7,000

Vinhomes Smart City Vinhomes Ocean Park Vinhomes Imperia Vinhomes Golden River Vinhomes Central Park

Vinhomes Imperia Vinhomes Ocean ParkVinhomes Smart City(1) Vinhomes Central Park

Vinhomes Star City

Vinhomes Golden River

Delivery of Completed Units in 2019

25

Moving into 2H2019

• 1st time launch of luxury product line - Vinhomes Diamond in Vinhomes

Smart City

• Further bulk sales transfers on negotiation

• Continue to organize comprehensive marketing events to boost sales for 3

mega projects.

Launches(1) –

3 mega cities

continue to be

the focus

1

Expected

delivery 2

• Hanoi: increasing interest from foreign investors continues to boost

residential demand

• Hanoi: more supply coming in the West and East areas with moderate price

growth

• HCMC: the East continues to lead the market (mainly Vinhomes Grand

Park)

• HCMC: new launches expected in 2H2019 thus stabilizing price growth

Market

Conditions(2)3

Note: (1) Subject to regulatory approvals and market conditions. (2) Source: CBRE

• Vinhomes Skylake, Vinhomes Star City, and Vinhomes Imperia are main

projects to be delivered in 2H2019 for retail home buyers.

• Vinhomes Smart City, and Vinhomes Ocean Park will be key deliveries in

2H2019 for bulk sales.

Financial Highlights


Profit before Tax Profit after Tax and Minority Interest

Total Revenue Gross Profit

2,795 2,109

19,719

9,730

13,387

2016 2017 2018 1H2018 1H2019

1,649 1,410

14,285

7,859

9,853

2016 2017 2018 1H2018 1H2019

(VND bn) (VND bn)

9,339 12,780 35,769 14,795 24,965

133

263

816

271

574

1,745

2,254

2,079

462

1,198

11,217 15,297

38,664

15,527

26,736

2016 2017 2018 1H2018 1H2019

Sale of Inventory Properties Leasing Others(1)

4,101 4,281

9,527

4,072

10,106

(3) (12)

244

30

264

356 898

290

25

206

4,454 5,167

10,061

4,127

10,576

2016 2017 2018 1H2018 1H2019


(VND bn)(VND bn)

Note: Based on VAS Audited Consolidated Financial Statements for 2016, 2017, 2018 and VAS Reviewed Consolidated Financial Statements 6M2019. (1) Includes revenue from general contractor services, shared profit from VCR, Vinschool, Vinpearl (until such components are completely

transferred to those respective Vingroup’s subsidiaries) and others

Financial Performance Overview

27

Adjusted EBITDA and Margin(2,3) Adjusted PATMI(4)

Total Revenue Gross Profit and Gross Profit Margin

20,879

44,960

71,963

39,81432,964

434

952

916

271 574

393

886

2,130

462 1,198

21,705

46,798

75,009 40,547 34,735

2016 2017 2018 1H2018 1H2019

Sale of Inventory Properties Leasing Others

8,622

17,485 22,213

12,101 14,145 175

483

298

30 264 91

23

2,130

25

206 8,887

17,99124,641

12,155

14,615

2016 2017 2018 1H2018 1H2019


38.9%

50.8%

41.3%

40.3%

5,581

13,822

35,208

10,75514,5583,359

1,259 552

999 1,136

262 322

11,460 15,832

35,208

10,75514,558

2016 2017 2018 1H2018 1H2019

33.8%37.3%(3)

Margin

4,383

9,601

14,234

7,8599,853

2,687

1,259552

799 909

209 2579,338 11,319

14,234

7,859

9,853

2016 2017 2018 1H2018 1H2019

Margin for Sale of Inventory Properties Margin for Leasing

(1)

(2)

33.9%

32.6%

46.9%

30.4%

11.0%

42.9%

46.0%

(VND bn) (VND bn)

(VND bn)(VND bn)

PATMI PATMI Attributable to Block Sale of 6 Buildings in Vinhomes Central Park

Sponsorship & Donation Sales Consulting Fees Trademark FeesAdjusted EBITDA Margin

EBITDA EBITDA Attributable to Block Sale of 6 Buildings in Vinhomes Central Park

Sponsorship & Donation Sales Consulting Fees Trademark Fees

Note: The financials as presented above are illustrative and based on the arithmetic aggregation of (i) Vinhomes JSC audited general purpose financials for FY2016-2018, (ii) Excluded Projects financials for FY2016-2018 and (iii) Reviewed Consolidated Financial Statements 6M2019. (1) Others principally comprises revenue from

general contractor services, shared profit from VCR, Vinschool and Vinpearl and others. (2) Includes other operating income and other operating expenses and adjusted for (i) sponsorship & donation, (ii) sales consulting fees (not expected to be incurred post acquisition of Vinhomes Property Management (“VHPM”) in 2018; however,

this excludes any in-house costs at VHPM that may be incurred by Vinhomes JSC) and (iii) trademark fees previously paid to Vingroup JSC, which are not expected to be incurred going forward. (3) Adjusted EBITDA margin calculation excludes other operating income recognized from block sale of 6 buildings in Vinhomes Central Park.

(4) Adjusted for (i) sponsorship & donation, (ii) sales consulting fees (not expected to be incurred post acquisition of VHPM in 2018; however, this excludes any in-house costs at VHPM that may be incurred by Vinhomes JSC) and (iii) trademark fees previously paid to Vingroup JSC which are not expected to be incurred going forward

Financial Performance Overview (cont’d)

28

26.5% 41.9%

9,157

15,327

31,909

26,062

2,802 1,562 4,525

14,612

31-Dec-2016 31-Dec-2017 31-Dec-2018 30-Jun-2019

Total Borrowings Cash and Cash Equivalents

VND bn

Total Assets Inventory

VND bn

VND bn

Total Cash & Cash Equivalents(1) and Total Borrowings

VND bn

Total Equity

9,549 10,124

48,145

58,973

31-Dec-2016 31-Dec-2017 31-Dec-2018 30-Jun-2019

8,475

17,006

36,858

27,630

31-Dec-2016 31-Dec-2017 31-Dec-2018 30-Jun-19

16,492 44,421

91,203 103,263

21,029

6,883

28,486 35,672

37,521 51,304

119,689

138,935

31-Dec-2016 31-Dec-2017 31-Dec-2018 30-Jun-2019

Current Assets Non-current Assets

Note: Based on VAS Audited Consolidated Financial Statements for 2016, 2017, 2018 and VAS Reviewed Consolidated Financial Statements for 6M2019.

(1) Cash and cash equivalents includes short-term investments.

Balance Sheet Overview

29

Key Credit Metrics

12.0

14.3

1H2018 1H2019

27.7%

23.8%

9.2%

31-Dec-2017 31-Dec-2018 30-Jun-19

136.0%

56.9%

19.4%

31-Dec-2017 31-Dec-2018 30-Jun-19

Times

29.9%26.7%

18.8%

31-Dec-2017 31-Dec-2018 30-Jun-19

Net Debt(1) / (Total Assets – Cash & Cash Equivalent) Net Debt(1) / Equity

Interest Coverage RatioTotal Debt / Total Assets

Note: Based on VAS Audited Consolidated Financial Statements for 2017, 2018 and VAS Reviewed Consolidated Financial Statements for 6M2019. (1) Net Debt = (Short-term Borrowings + Long-term Borrowings) – (Cash & Cash Equivalent + Short-term Investment).

(2) Interest coverage ratio = EBIT/Interest Expense

Average Debt Maturity: 1.17 years

30

Appendix


32

0

1,000

2,000

3,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018 2019

High-end Mid-end Affordable

Price (USD/m2)

02,0004,0006,0008,000

10,00012,00014,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018 2019

Launched units Sold units

No. of units

Market Summary for 1H2019

Hanoi – supply and demand

Hanoi – pricing

Q2 2019: $2,345

Average: $1,955

Launched units: 17,700

+25% yoy

Sold units: 16,300

+27% yoy

Mid-end & Affordable

slight increase

Luxury & High-end

achieved new high

CBRE definition: Luxury: > US$4,000 psm; High End: US$2,000 - $4,000 psm; Mid End: US$1,000 - $2,000 psm; Affordable: < US$1,000 psm (exclude VAT and quote on NSA)

Note: (1) Includes only units subject to retail sales

33

Market Summary for 1H2019HCMC – supply and demand

Launched units: 8,547

-42% yoy

HCMC – pricing

prices increase across

all segments due to

restricted supply

01,0002,0003,0004,0005,0006,0007,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2017 2018 2019

Luxury High-end Mid-end Affordable

Price (USD/m2)

88% Sold out in newly

launched projects

Sold units: 10,500

inventory

CBRE definition: Luxury: > US$4,000 psm; High End: US$2,000 - $4,000 psm; Mid End: US$1,000 - $2,000 psm; Affordable: < US$1,000 psm (exclude VAT and quote on NSA)

0

2,500

5,000

7,500

10,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2017 2018 2019Launched units Sold units

No. of units

Note: (1) Includes only units subject to retail sales

(1) (1)

Market Summary for 1H2019

34

Vinhomes: Not Just a Homebuilder but a Community Creator

#1 dominant integrated

residential and commercial

developer

Ecosystem of

complementary consumer

service offerings at

each project

Active in mega project

developments and pioneers

in partnerships with sub-

developers on projects

Nation-wide operation and

first mover advantage in

several second-tier cities

and satellite project

developments

Residential

Retail /

Office Medical School

Hospitality /

Entertainment

Central

Park

(HCMC)

• Vinhomes

Central Park:

− The Central

− The Park

− Landmark 81

− c.11,000 units

• Vincommerce

− 7 VinMart +

− 1 VinMart

• Vincom Center

Central Park

• Landmark 81

commercial

space

• Vinmec

Central Park

International

Hospital

• Vinschool

K-12 education

• 5-star Vinpearl

Hotel Landmark

81

− 223 hotel

rooms

Times

City

(Hanoi)

• Vinhomes

Times City &

Park Hill

− c.13,000 units

• Vincommerce

− 6 VinMart +

− 1 VinMart

• Vincom

Mega Mall

Times City

• Vincom Office

Times City

• Vinmec Times

City International

Hospital

• Vinschool

Kindergarten

− 5 schools

• Vinschool

Elementary,

Secondary and

High School

• Vinpearl Land

Aquarium Times

City

Ecosystem of Complementary Products and Services At Each Site


https://upload.wikimedia.org/wikipedia/commons/f/f5/The_panorama_of_Times_City_Square.jpg

35

Continued Support from Customers and Mortgage Lenders

Percentage of foreign buyers declined by 127 bps from 31 Dec 18 because buyers of

Vinhomes Sapphire apartment units are mostly domestic buyers

• Projects with highest number of sold units with a mortgage were

• Proportion of sold units with a mortgage depends on clients’

preferences, locations and sales policy

• Vinhomes homebuyers often enjoy favorable interest rates relative to

the market thanks to good relationships between Vinhomes (as the

project developer) and large banks

• Interest supports offered to homebuyers by developers for 18 to 24

months, and a grace period for principal payments during the period of

interest support

• Vinhomes Ocean Park and Vinhomes Smart City buyers can take

out a mortgage of up to 35 years.

FOREIGN BUYERS(1)

9%MORTGAGES

55%

Project Selling pointsPercentage of

foreign buyers

Vinhomes

Golden River

(HCMC)

Vinhomes Golden River is constructed

along the Saigon river, in the heart of

District 1. The area is expected to

become home to new office

skyscrapers, commercial centers, and

beautiful riverside walks.

30.0%

Vinhomes

West Point

(Hanoi)

Situated in the West of Hanoi,

Vinhomes West Point has been

developed to set a new standard of

living, with its harmonious combination

of water, trees and “All-in-one” facilities.

24.5%

Vinhomes

Skylake

(Hanoi)

A mixed use development in Nam Tu

Liem new administrative area of Hanoi.

It is adjacent and looks over the 32-

hectare Cau Giay park, with 19-hectare

water surface reservoir

12.6%

Vinhomes The

Harmony

Vinhomes

Star City

Vinhomes

Ocean Park

Percentage (%) 68% 70% 64%

Note: (1) For all units sold in Vinhomes projects from the incorporation of the residential business in Vingroup until 30 June 2019, excluding projects launched before 2015 (i.e. Vinhomes Royal City and Vinhomes Times City)

Proportion of sold units with a mortgage was 55% on average

(cumulative for all projects sold by Vinhomes as of June 30, 2019)

36

CBDVinhomes Skylake

Vinhomes

Metropolis

Vinhomes

Royal CityVinhomes Times City

Vincom Ba Trieu

Vinhomes

The Harmony

Vinhomes

West Point

Project C

Project GProject E

Project B

Vinhomes

Riverside

Project A

Vinhomes Properties

Hanoi

City Centre

Ho Chi Minh City

Source: CBRE, Company Information.

Significant boost in connectivity will accelerate demand for pipeline projects

Under development and pipeline Upcoming Hanoi Metro Lines Under development and pipelineHCMC Metro Line 1 Upcoming Metro Lines

(before 2030)

Valuable Land Bank Proximate to Upcoming Metro and Highway Infrastructure

Rach Chiec

Phuoc Long

Binh Tho

Thu Duc

Hi-Tech Park

Suoi Tien

New Eastern Bus Station

Long Binh

Depot

New Port

District 9

District 1

Phu Nhuan

District

Bin Thanh

District

Go Vap

District

Thu Duc District

District 2

251 ha

Project C

Ben Thanh

Opera HouseBa Son

Thao DienAn Phu

Vinhomes Central ParkDistrict 3

Van Thanh

Vinhomes

Grand Park

Vinhomes Golden River

Vinoffice Dong Khoi

CBD

Project A

Project B

Vinhomes Properties City Centre

Vinhomes Nguyen Chi Thanh

Project D

Vinhomes

Green Bay

Project F

Project H

Vinhomes

Smart City Vinhomes

Ocean Park

37

• In Hanoi, Vinhomes’ projects can achieve a

much higher ASP

• Vinhomes Ocean Park able to sell at a premium

due to:

− Reputation of Vinhomes as a developer

− Scale / amenities

− Construction quality

15% higher ASP than peers(1)

Vinhomes mega projects well poised for future growth given unrivalled brand equity and positive spill-over effects

Vinhomes Properties Command a Premium Over Comparable Hanoi Projects … Validated through

Assessment by International

Experts

1

10 – 15% higher ASP than peers(1)1

Source: Company, Int’l Broker #1, Int’l Broker #2 (names to be revealed subject to clearance)

Note: (1) Refers to surrounding comparable projects.

• Unrivalled brand equity driving steady customer demand

• Unique integrated ecosystem offering of complementary suite of amenities / facilities

Int’l

Broker #1

Int’l

Broker #2

Case Study: Vinhomes Competitive Positioning

Vinhomes

Ocean Park

Ecopark –

Palm Forest

Ecopark –

AquaBay

Hanoi Garden –

Canal Park

Northern

Diamond

Gamuda –

Zen Residence

Unit Size

(sqm / unit)

• 28 - 76

(1 - 3 BRs)

• 71 - 91

(2 - 3 BRs)

• 47 - 109

(1 - 3 BRs)

• 86 - 184

(2 - 3 BRs)

• 94 – 107 • 52 - 106

(1 - 3 BRs)

ASP

(US$ / sqm)

• - • 906 • 1,004 • 773 • 1,124 • 1,167

Developer • Vinhomes • Vihajico • Vihajico • Berjaya –

Handico12

• Incomex • Gamuda

Land

Other Factors as Compared to Vinhomes

Location,

Accessibility,

Infrastructure

• ▼ • ▼ • ▲ • ▲ • ▲

Developer • ▼ • ▼ • ▼ • ▼ • ▼

Scale /

Amenities• ▼ • ▼ • ▼ • ▼ • ▼

Construction

Quality

• -- • -- • ▼ • ▼ • --

Unit Size • ▲ • ▲ • ▲ • ▲ • ▲

Management

Company

• -- • -- • ▼ • ▼ • ▼

38

Infrastructure Development Underway

Source: Company, CBRE.

Visible and meaningful progress on infrastructure developments will boost real estate capital values

and greatly increase connectivity for Vinhomes projects

Road

Expansion

Metro Line # 2

Cat Linh – Ha Dong

Metro Line # 3

Nhon – Hanoi Station

Vinhomes Projects in Close

Proximity

• Vinhomes Riverside

• Vinhomes The Harmony

• Vinhomes Times City

• Vinhomes Royal City

• Vinhomes Ocean Park

• Vinhomes Galaxy

• Vinhomes Gallery

• Vinhomes Metropolis

• Vinhomes Gallery

Development Status • Various projects under construction

include elevated Ring road #2,

segments of Ring road #3,

overpasses in CBD areas

• Projects under development include

Ring road #3.5 and #4

• Construction completed

• Trial run began in July 2018

• About 45% completed

• Commercial operation to start by 2023

Other Commentary • Overall improvement to Vinhomes

projects from enhanced infrastructure

Hanoi

39

Infrastructure Development Underway

Van Don – Mong Cai

highway

HCMC – Moc Bai highway Metro Line # 1

Ben Thanh – Suoi Tien

Connecting the

Old to the New City

Vinhomes Projects in

Close Proximity

• Vinhomes Green Ha Long • Vinhomes Golden River

• Vinhomes Central Park

• Leman Golf

• Vinhomes Golden River

• Vinhomes Central Park

• Central Park

• Golden River

Development Status • Expected completion in 2021 • Expected approval in 2020

• Expected completion in 2025

• About 56% completed

• Commercial operation to

start by 2021

• Projects under development

include

Metro Line #2, Thu Thiem 4

bridge

Other Commentary • Overall improvement to

Vinhomes projects and local

economy from enhanced

connections

• Overall improvement to

Vinhomes projects and local

economy from enhanced

connections

• Key projects improving

infrastructure to and within

District 2 (the new city)

include Thoi Dai bridge

(completed), My Thuy

Intersection (completed),

Metro Line #1 (under

construction)

Quang Ninh HCMC

Source: Company, CBRE.

Visible and meaningful progress on infrastructure developments will boost real estate capital values

and greatly increase connectivity for Vinhomes projects

40

Low Risk Capital Effective Business Model

Preparation of

Site for

Construction

Unit

Construction

Preparation

of Projects

Marketing

Process Commence

Execute Purchase

ConfirmationHandoverPre-sales

Vinhomes Property Development Business Model and Payment Schedule

Strong Management of Default Risk

Majority of units are pre-sold immediately after land clearance has completed and

project construction has broken ground

Presale customers required to make down payment of approximately 30% of total

purchase price (for Vinhomes Ruby and Vinhomes Diamond properties) or 10% (for

Vinhomes Sapphire properties)

Upfront payments from majority Vinhomes customers, typically c.70% of total

purchase price when sales contract is signed(1)

95% of purchase

price must be

paid before

being issued the

land use right

certificate (LURC)

Full payment will

be collected

thereafter

Construction

Completion

and Handover

Collection of cash

based on the

construction

process

(totaling up to 70%

of purchase price)

Note: (1) Based on sales of launched projects through 31 December 2017.

Headquarters: No.7, Bang Lang 1, Vinhomes Riverside, Viet Hung Ward, Long Bien District, Hanoi, Vietnam

Tel: +84 (24) 3974 9999 ext. 9594 Website: http://ir.vinhomes.vn/en

Fax: +84 (24) 3974 8888 E-mail: [email protected]

Investor Relations Department


http://ir.vinhomes.vn/

mailto:[email protected]

corporate presentation - vinhomes€¦ · corporate presentation where happiness lives ......

Documents