Masterise Group - The emerging "Real Estate Giant" in the real estate village of Saigon

VietTimes – Within just a few years, Thao Dien Investment (now Masterise Group) has skyrocketed to become the leading real estate developer in Ho Chi Minh City. HCM. Masterise Group is also a partner of many big names in the fields of real estate, finance and construction.

 

Masterise Group - Logo

 

Masterise Group - an emerging "player" in the real estate village of Saigon

Established in 2007, Thao Dien Investment Joint Stock Company (Thao Dien Investment) had many years of operation before it exploded with the Masteri Thao Dien luxury residential project. The project has an area of ​​8 hectares, located in the center of District 2 (HCMC) opened for sale from October 2014 and is expected to be completed by the end of 2016.

According to VietTimes data, by the end of 2016, Thao Dien Investment's total assets reached VND 8,635 billion. Inventories accounted for 29.7%, reaching 2,566.4 billion VND. During the year, Thao Dien Investment merged with Metropolis Company Limited.

In the following years, the total asset size of Thao Dien Investment tended to decrease, while the inventory balance continuously fluctuated greatly. By the end of 2019, Thao Dien Investment's total assets reached VND 2,750 billion, inventory was only VND 5.6 billion.

In terms of capital structure, Thao Dien Investment is an enterprise that always maintains a high leverage ratio.

Specifically, in 2016, although the scale of equity was only 213.2 billion dong, the outstanding debt of this enterprise amounted to 8,421.7 billion dong. By 2019, Thao Dien Investment's outstanding debt decreased to only 1,961.4 billion VND, 2.48 times more than equity.

In terms of business results, Thao Dien Investment's revenue outperformed even in 2016. This is also the time when the Masteri Thao Dien project is expected to be completed and handed over to customers. However, in 2016, Thao Dien Investment still reported a loss of 9.8 billion dong.

The point of falling profit of Thao Dien Investment came a year later with a profit of 390.7 billion dong, but revenue dropped to only 3,883.6 billion dong.

Anyway, the success of Masteri Thao Dien has put the name of Thao Dien Investment on par with the leading real estate giants in the market.

Then, Thao Dien Investment launched a series of luxury projects such as Masteri An Phu, Millennium, M-One South Saigon and M-One Gia Dinh.

The change of name to Masterise Group and the launch of Masterise Homes marks another new development of this secretive real estate giant.

Updated to May 2020, Masterise Group has raised its charter capital. at 1,423.5 billion VND. Ms. Phan Thi Anh Tuyet (General Director of Masterise Group) is also currently named in dozens of businesses bearing the "Masterise" brand. However, the shareholder structure of Masterise Group is still mysterious, only knowing that this business has a credit relationship with a large private bank in the country. Relatives of this banker, notably, also play a key role in Masterise Group.

Before renaming, Thao Dien Investment cooperated with TCO Vietnam Investment Joint Stock Company (TCO Development) to develop the M-One South Saigon project, with an area of 13,904 m2 in, District 7, Ho Chi Minh City.

As VietTimes mentioned, TCO Development is the parent company of TCO Real Estate Trading and Consulting Company Limited - a legal entity that has transferred a part of the project (34.6 ha) in Gia Lam Urban Area. , Hanoi in 2019.

 

Masterise Homes - Masteri Centre Point Quận 9
Masterise Homes – Masteri Center Point District 9

 

In addition to real estate, the Masterise group also encroached on the field of renewable energy - a "hot trend" for investment in recent years.

In 2017, Masterise Group and TCO Development also poured capital with a group of shareholders of Trung Nam Group to establish Trung Nam Bac Ai Hydropower Joint Stock Company.

This company initially had a charter capital of 1,000 billion VND. In which, Masterise Group and TCO Development own 50% of charter capital.

Updated to July 2020, this business suddenly changed its name to Trung Nam Gia Lai Wind Power Joint Stock Company - Xa Trang, the shareholder structure was not disclosed.

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