On 8th May 2014, Sunrise City project, Novaland Group held the announcement ceremony of commencement and notification of sales results for the first quarter of 2014. To present Novaland has almost completed the investment in the Sunrise City project: Putting Sunrise City-South Towers into use, commencement of construction for Sunrise City-Central Towers (it is expected to hand over homes in December 2014, 2 months sooner than scheduled) and construction of Sunrise City-North Towers. The project commenced during the freezing period, 2009 was the most difficult year for the economy, - the second phase will be completed whilst the market is recovering and stepping into a new development cycle.
Mr. Phan Thanh Huy-CEO of Novaland talks about the business results of the quarter/2014.
This achievement has been a response to the Government's policy, in particular, the Government's Resolution for more solutions and to remove difficulties, the Novaland Group has therefore undertaken a restructure of the entire product to match the market trends. During the project Novaland has learnt:
1. The project development must be based on the real value:
At present, Novaland is similar to a factory whose products are the apartments, tightly controlled in the terms of price and quality. The selling price of Novaland apartments' is very close to the cost price; profit does not exceed 10% of the selling price. Thus, with 3 new projects announced in December and in February 2014, the transaction rate has been positive after hitting the market 4 months ago, specifically:
- Galaxy 9: selling 200 apartments within 2 months.
- Lexington: selling 500 apartments in 5 months.
- Sunrise City: selling nearly 1600 apartments.
- Tropic Garden: selling 350 apartments out of 380, handing over homes from the first phase to customers began in April 2014.
-The Prince Residence: selling over 200 apartments and the last time is opened to sell.
2. Improving the professionalism:
Novaland currently has a highly skilled and very professional workforce in terms of project development; strong financial management, project management; building processes and systems reaching international standards. Novaland intends to continue to build a dynamic and efficient working environment.
3. Maintaining credibility, creating the trust with customers and partners:
From 2008 to present, the most difficult phase of the economy, Novaland has fiercely maintained the construction progress and quality of products, handing over homes as committed, created the most favorable conditions for the customers. Thus, Novaland has a considerable amount of custom, this reminds me us that maintaining the reputation with customers is always the most important.
4. Products presented to customers must be good quality and effective:
Novaland's products are favored by customers because before deciding to develop a project Novaland carefully reviews the position, makes sure that the project will be connected with favorable transportation, and sufficient internal facilities, all ensuring a good habitat. The apartments are also eligible to rent at good prices.
5. Sustainable development:
Thanks to the principles of creating sustainable and long-term development, Novaland is attracted to the benefits of sustainability and has long-term plans to build its brand and continue to serve customers better. Since the beginning of the year, there are nearly 10,000 customers that are learning about the projects and buying apartments.