AsemconnectVietnam - The Hanoi Department of Planning and Investment has just announced the results of the opening of registration dossiers to implement the G19 New Urban Area project in Kim No commune, Dong Anh district. Accordingly, Everland Group Corporation (stock code EVG) is one of two investors registered to participate.

The G19 urban area has an area of about 26.1 hectares, the current status is mainly agricultural land used stably before April 1, 2004 and intra-field road and ditch land. This is one of the projects identified to accelerate the process of becoming a district of Dong Anh.
In this urban area, 174 five-storey townhouses, 56 three-storey villas, a 30-storey social housing building with 598 units, a 25-storey social housing building with 188 units, a 10-storey social housing building with 94 units, a 5-storey commercial center building will be built... The preliminary total cost of the project is VND2,183 billion, in addition, the cost of compensation and resettlement support is VND244 billion.
Regarding business activities, at the end of the first half of 2024, Everland recorded revenue of VND629 billion, net profit of nearly VND27 billion, respectively reaching 38% and 24% of the year's plans.
Notably, in the explanatory notes to Everland's consolidated financial statements for the second quarter of 2024, it is reflected that as of June 30, Everland's asset portfolio had a receivable of more than VND5 billion from Huynh Gia Huy JSC; the debt portfolio also had a payable of nearly VND6 billion to this enterprise.
On the other hand, in the consolidated financial statements for the second quarter of 2024 of No Va Real Estate Investment Group Corporation (Novaland, stock code: NVL), Novaland said that it had completed the transfer of all capital contributions at Huynh Gia Huy JSC with a total transfer value of nearly VND1.9 billion, excluding the value of utilities and outstanding debt obligations.
With the above developments, the market has raised the question of whether Everland spent nearly VND2 billion to acquire Huynh Gia Huy JSC and own the NovaHills Mui Ne project.
Huynh Gia Huy JSC was established in 2005, headquartered in Phan Thiet City, Binh Thuan. By the end of 2023, this enterprise has a charter capital of VND725 billion, of which Novaland holds 99.98% of the ownership ratio. Huynh Gia Huy is also known as the investor of the NovaHills Mui Ne project with an area of nearly 40 hectares, including 603 villas.
N.Nga
Source: VITIC/Tinnhanhchungkhoan