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TASECO REAL ESTATE INVESTMENT JSC (HSX: TAL)
Established in 2009, Taseco Land (TAL) is one of the three main business areas of Taseco Group with the core activities of real estate development while the other businesses of the Group are aviation services (Taseco Air) and financial investment (airport infrastructure, construction and leasing). TAL operates in three segments of the real estate industry: residential & commercial real estate, hospitality real estate and industrial parks (IPs). TAL moved its listing from UpCOM to HOSE from 08/01/2025 with a reference price of VND25,500/share on the first trading day.
The company is developing more than 20 projects on a land bank of nearly 1,000 ha scattered in 10 provinces/cities including Hanoi and surrounding provinces and the North Central region such as Bac Ninh, Hai Phong, Thai Nguyen, Ha Nam, Thanh Hoa, Quang Tri. Of which, 450 ha is residential and commercial land, 471 ha is IP land and 75 ha is hospitality real estate land. Most of TAL’s residential real estate land bank comes mainly from bidding/auctions, so the development time is quite fast compared to companies which acquired land from residents. TAL has completed compensation and site clearance for 430 ha out of a total land bank of 996 ha.
The company mainly develops mid-high-end apartments and townhouses in Hanoi and urban areas in other provinces. TAL has strategic cooperation with major international partners in all 3 real estate segments: CapitaLand (Singapore) in the residential segment, Sunset Group (Dubai) in the hospitality segment and Sojitz (Japan) in the IP and aviation infrastructure segments.
In 2025, the company started to construct 4 projects: Trung Van (2Q2025), Long Bien Central (2Q2025), Thai Nguyen Walking Street (August 2025) and Duy Tien Urban Area (September 2025) and launched 2 new projects Long Bien Central (3Q2025) and Dong Van III IP (September 2025) with good absorption rates thanks to favorable location and competitive selling prices. TAL sold 430 apartments and shophouses/487 units (88%) at the Long Bien Central project in Hanoi after 4 months of opening for sale. The Dong Van III project in Ninh Binh was received Approved of investment in Principle (AIP) in November 2023 and recorded a high occupancy rate of 42.5% after 3 months of leasing (leased over 71 ha/166.9 ha of net leasable area). It is expected to record revenue and profit of about 70 ha in 2H2025.
In 2025, TAL won the auctions for 2 projects in Bac Ninh, namely Huong Mac New Urban Area (30.47 ha with a total investment of VND2,500 bn) and Tam Son Commercial Service Urban Area (62.57 ha with a total investment of nearly VND4,000 bn). The company also received AIPs of 6 new projects in 2025, including the 2 projects that won the bids, Thai Nguyen Walking Street (April 2025), Thuy Nguyen Industrial Park (July 2025), 1283 Giai Phong (September 2025) and Moc Bac water plant project (October 2025).
