Song Da 7 announces real-estate success

Thursday, May 23, 2013 11:35

Song Da 7 Chairman Nguyen Manh Thang addresses the company's annual shareholders meeting.— VNS Photo

HA NOI (Biz Hub) – Despite difficulties in the property market, Song Da 7 Joint Stock Company, which specialises in investment in urban and industrial zones, plans to finish apartments on schedule and increase its revenue by 131 per cent.

The goals were passed at the company's annual shareholders meeting on Tuesday in Ha Noi.

The company also expects to lift its contribution to the State budget by 142 per cent compared to last year.

Song Da 7 managers have given priority to promoting legal procedures for residential building projects and good investment management. They will also try to create more projects and more profit.

Addressing the conference, the company's chairman and general director, Nguyen Manh Thang, said that the company's operation last year surpassed management goals despite the sluggish market and increased prices for materials and labour.

Thang attributed last year's achievements to good business management and the solidarity of staff.

Song Da 7 company's revenue in 2012 reached VND254.47 billion (US$ 12.2 million), State budget contribution was VND13.13 billion ($630,000), an increase of 30 per cent compared with previous year.

Average income of an employee stood at VND8.25 million ($400) a month.

Among its major projects were a residential project for ministerial level staff in Tu Liem District, residential apartments for staff of the Ministry of Public Security in Cau Giay District and an apartment building for Vietnam News Agency staff in Hoang Mai District. — VNS

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