AGG [NOT RATED] - Mid-end, affordable housing developer in southern Vietnam

- An Gia Real Estate (HOSE: AGG) is a mid-end and affordable housing developer in southern Vietnam. AGG has a total land bank of 33 ha under development in HCMC and Binh Duong.

- Property sales are the major revenue and GP contributor for AGG. In 2023-Q1 2024, most sales came from the handover of the apartment project Westgate (3.2 ha/2,056 units) in HCMC.

- AGG guides for 2024G NPAT-MI of VND250bn (+43% YoY). AGG completed 80% of this target in Q1 2024 due to revenue from Westgate and The Standard apartment project (7 ha).