PV: BIM's activities focus on four main business areas: Tourism Development and Real Estate Investment, Agriculture - Food, Trade and Services, Renewable Energy. BIM is demonstrating specific success and future strategies in each area.how bad?
Last year was a successful year for the Agriculture - Food sector of BIM Group with all 3 sectors having remarkable growth. In particular, the shrimp farming and processing sector witnessed a year of "good harvest, good price" with revenue doubling compared to 2016. The salt production sector, despite facing unfavorable weather conditions, still saw strong growth in revenue due to the doubling of salt prices. In addition, Pacific Milk Oysters of BIM Group were also highly appreciated by consumers and distributors. We expect to continue to reap similar successes in 2018 in this Agriculture - Food sector.
Regent Residences Phu Quoc project stands out from investor BIM group in 2017
The development of the Elite Fitness brand in recent times is also a source of pride for BIM. From a modest number of 3 clubs in Hanoi, after only 3 years, it has now expanded into a chain of 15 fitness centers across 3 regions. Loved and regularly practiced by tens of thousands of members, Elite Fitness strives to continue to maintain its leading position in Vietnam, not only that, but also continues to expand to new locations and cities.
The Renewable Energy segment is the newest piece of the BIM Group. Last January, we launched the Solar Power Plant in Ninh Thuan. Our ambition is not only to stop at phase 1 with a scale of 30 Mega Watt, an investment capital of 40 million USD, expected to be completed this year, but will expand the investment scale to phase 2 with a capacity 10 times higher than phase 1 - a total investment capital of nearly 500 million USD. "Going ahead" is BIM's orientation for this new and potential business segment, we dare to affirm that we will become the leading large-scale investor in Vietnam in 2019.
Meanwhile, Tourism Development and Real Estate Investment continue to be the areas that BIM Group has put the most effort and effort into in recent years. 2017 marked a breakthrough in many aspects: revenue, investment projects, market coverage and reputation of the group. We are very proud to witness the revenue from real estate for sale recorded a 3-fold increase compared to 2016, reaching about 350 million USD. The number of products also increased significantly: the total number of apartments and ground-level houses introduced to the market in 2017 was about 1,700 units, equivalent to 50% of the total number of products launched for sale in the previous 3 years 2014 - 2016. BIM also achieved many significant successes in the past year with a series of real estate projects put into operation including Royal Lotus Halong Resort & Villas, Crowne Plaza Vientiane..., and at the same time cooperated with many "giants" and famous global brands such as AEON Group (Japan), Regent Group (Taiwan), The Ascott Limited (Singapore), Sailing Club...
The Group's short-term master plan will continue to focus on key markets such as Quang Ninh and Phu Quoc, exploiting and introducing new resort real estate product models, suitable for many investors and homebuyers. BIM will also soon expand to other emerging markets and locations to awaken the potential of tourism real estate in these localities.
PV: Roadmap to becoming a leading corporation in Vietnam with international stature and prestige in the world?
It would be overconfident to aim to become the leading corporation in Vietnam, however BIM always strives to bring the highest values to customers and partners, thereby increasing BIM's position in the markets and fields in which the corporation is investing.
In the Agriculture - Food industry, BIM Group will continue to promote its strengths in two main areas where the group is holding the leading market share in Vietnam: shrimp farming and processing and salt production. BIM's Dong Hoa shrimp farming area in Kien Giang with an area of 1,234 hectares is one of the largest farms in Vietnam. Meanwhile, our Quan The - Ninh Thuan salt field with an area of over 2,700 hectares is proud to be the largest salt field in Southeast Asia, contributing to 70% of Vietnam's industrial salt production.
In the field of Renewable Energy, right from the first steps, BIM Group has determined to cooperate with experienced units in this very new field that requires high technical and technological requirements. Accordingly, BIM has cooperated with AC Energy - a subsidiary of the largest energy corporation in the Philippines. In addition, BIM's power plant project has been and is being built by Conergy, a contractor with 20 years of experience, having built over 300 solar power plants in many regions around the world. Not only satisfied with the scale of 330 MW of Phase 1 and 2 - completed in 2019, BIM Group has a long-term goal of developing at least 1,000 MW of clean energy by 2025, becoming a pioneer and leading large-scale investor in Vietnam.
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In the field of Tourism Development and Real Estate Investment, BIM Group continues to pursue the core strategy, which has brought certain success in the recent past. In the near future, we will continue to focus on emerging markets with much room and potential for development, such as Phu Quoc and Quang Ninh. In addition, BIM will strive to diversify its product portfolio, while continuing to seek and cooperate with reliable domestic and foreign hotel and resort management and operation partners.
In terms of total investment capital, BIM has invested more than 300 million USD in real estate projects in the past time. In the medium and long term, we will continue to invest billions of USD in the group's major projects in Ha Long (about 2 billion USD), Phu Quoc (about 600 million USD) and other areas.
In terms of real estate sales revenue, BIM has shown exponential growth over the years. While 2015-2016 recorded modest revenue, 2017 was a record year for revenue - reaching 350 million USD. BIM strives to maintain this impressive growth in 2018 with the goal of achieving no less than 500 million USD in recorded revenue.
PV: It seems that tourism and resort real estate is still the most prominent segment of BIM. Which project is BIM currently focusing on? What is the long-term competitive advantage of that project?
Yes, currently BIM's main development market is resort real estate in Ha Long and Phu Quoc.
In 2017, we launched two tourism real estate projects, including the 4-star Royal Lotus Halong Resort & Villas located next to the beautiful Ha Long Bay and the first international standard 5-star hotel in Vientiane under the Crowne Plaza brand. During this time, we are focusing our resources on completing the final stages of the InterContinental Long Beach Phu Quoc project to open the project in April 2018. In addition, a number of other key projects are also being built and completed, including the Regent Phu Quoc project - the first 6-star resort with the Regent brand in Vietnam; the Phu Quoc Waterfront boutique hotel; Citadines Marina Halong; the luxury apartment complex facing Ha Long Bay - Green Bay Premium. Several other projects in Phu Quoc and Ninh Thuan are also under negotiation, expected to be managed by the world's leading hotel brands.
The most obvious competitive advantage in BIM projects comes from the strategy of “standing on the shoulders of giants”: cooperating with leading management units in the hotel and resort industry. The participation of experienced corporations from the initial project design steps until the operation, as well as the subsequent operational control process, will ensure that all BIM Group projects are developed systematically and professionally. This step not only brings a truly classy resort experience to the owner but also increases the investment value for customers.
PV: There is an opinion that BIM Group is currently a “shark” of provincial real estate with huge projects mainly in Quang Ninh and Kien Giang? Is this correct?
True and false.
Previously, it is true that BIM mainly invested in a few simple housing projects in Ha Long, as well as developing infrastructure and selling land in the two above-mentioned locations.
As soon as the great potential of Ha Long and Phu Quoc real estate was awakened, BIM Group quickly launched a series of large-scale projects, diverse in product types and classifications - mainly focusing on the high-end and luxury segments.
In addition to the two markets mentioned above, we also expanded our investments in other areas. These include the success at Fraser Suites Hanoi; the grand opening ceremony of the Crowne Plaza Vientiane - Laos complex as well as the strategic handshake with AEON Group - Japan at the AEON Mall Ha Dong project. BIM Group's land fund is currently up to 6 million m2 spread across Vietnam, mainly concentrated in vibrant coastal tourist cities and the capital Hanoi.
In the coming time, BIM Group will step up the promotion of searching for large-scale projects in emerging and potential locations and markets.
I can confidently say that BIM Group has escaped its own shadow and affirmed its name as a leading investor in Vietnam.
Lan Anh - Dung
