AsemconnectVietnam - Kita Invest Joint Stock Company has just announced its financial report for the first half of 2024 on the Hanoi Stock Exchange (HNX).

Accordingly, in the first 6 months of 2024, Kita Invest recorded a profit after tax of nearly VND51 billion, an increase of more than 21 times over the same period last year.
As of June 30, 2024, Kita Invest's equity increased by 8.4%, from VND1,158 billion to VND1,255 billion. Notably, the outstanding bond debt is about VND2,000 billion, improving the bond debt/equity ratio from 0.7 times to 0.6 times.
Kita Invest currently has 3 bond lots KITA.BOND2020.03, KITA.BOND2020.07 and KITA.BOND2020.08 circulating on the market. All 3 bond lots were issued in 2020. Of which, KITA.BOND2020.03 has an issuance value of VND500 billion; the circulating value as of June 30, 2024 is VND400 billion. With a term of 5 years, this bond lot is expected to mature on May 5, 2025. The remaining two lots, KITA.BOND2020.07 and KITA.BOND2020.08, have just announced a change in maturity from 48 months to 60 months, expected to mature on July 30, 2025. The issuance value of the two lots KITA.BOND2020.07 and KITA.BOND2020.08 is both VND200 billion, the circulation value (as of June 30, 2024) is VND200 billion and VND195.629 billion respectively.
Thus, the total outstanding bond debt of Kita Invest as of June 30, 2024 is only about VND795.629 billion, a sharp decrease compared to the same period.
In the real estate market, Kita Invest is known as the investor of the Kita Airport City Urban Area project with a scale of 150 hectares in the center of Binh Thuy District, Can Tho City. The project has a total of 5,000 land lots, with an area of 80-170 m2 including townhouses, shophouses, villas, and apartments. The total investment capital in this project is VND8,000 billion. On August 3, Kita Invest started construction of the Stella Icon luxury apartment project in the Kita Airport City urban area, with a total investment of about VND440 billion, with modern apartments and smart technology utilities, creating a high-class and convenient living space for residents.
Kita Invest belongs to Kita Group Corporation. Established in 2014, real estate developer KITA Group is a familiar brand in the Southern region. Over the past decade, KITA Group has gradually affirmed its position on the "map" of reputable real estate businesses in Vietnam by "joining hands" to cooperate to develop projects on land funds with prime locations stretching from North to South with a total land area of more than 300 hectares.
Over the past 2 years, KITA Group has "advanced to the North" with a series of projects in prime locations. Among them, the KITA Capital project is located in the Nam Thang Long - Ciputra urban area with high-end real estate lines such as: single villas, twin villas, townhouses, luxury apartments, 5-star hotels and modern financial towers.
In the development roadmap in the North, Kita Group also implements projects such as Stella in Quoc Oai (Hanoi), high-end Sukura Golf in Hai Phong, and TAX Resort with an area of 58 hectares in Hanoi. In addition, the Hoa Lac urban area with an area of 8.2 hectares is also part of the group's expansion strategy.
Not stopping at residential real estate, KITA Group is opening a comprehensive development cooperation strategy when implementing a series of resort projects such as the high-end urban area of the Golden Hills mega-project (Hoa Vang district and Lien Chieu district, the northwest gateway of Da Nang city). Next is Stella Ocean Park in Phan Thiet.
According to the leader of KITA Group, these two projects will be the first opening for the luxury real estate brand developed by the group in many beautiful coastal areas across the country.
N.Nga
Source: VITIC/Tinnhanhchungkhoan