Quickly spotting growth opportunities right at its 2005 inception, Metro Star Investment Co., Ltd. focused on property development in inner city areas, enabling celebration of key achievements 18 years later.
Today, it is a pioneer in developing projects alongside six to-be-built metro projects in Ho Chi Minh City, a strategy that will ensure strong, sustainable growth in the years to come.
Aligning its developments in line with HCMC’s plan for six metro lines, Metro Star focuses on building Vietnamese-style modern houses equipped with 4.0 technology innovations.
Metro Star chairman Vu Hong Quang. Photo courtesy of the firm.
To implement its unique business model, Metro Star conducted extensive research on the city’s development plans for different areas. Then, it prepared land lots just minutes away from major metro stations planned by the city. The firm thus emerged as a leading realty developer in Vietnam of green properties along metro lines.
Its development path also aligns with the global trend of prioritizing green public transportation, which has seen cities like Hanoi and Ho Chi Minh City plan extensive metro networks.
In preparing land lots close to major metro stations, the firm’s projects have followed the transit oriented development (TOD) model. For example, the Metro Star project on Vo Nguyen Giap avenue in HCMC is connected to Metro Line No.1’s Binh Thai station via a pedestrian bridge. The Metro City project is adjacent to Metro Line No. 3A and its SS1 project is linked to Station No.9 of Metro Line No.2 via a tunnel. CT Plaza Riverside is located alongside Metro Line No. 3B.
To mark its 18th anniversary on September 28, Metro Star has announced a special decade-long program for “major partners and ambassadors” of the company. Additionally, the firm is preparing to conduct an initial public offering (IPO) in 2024 to become a joint stock company whose shares are highly valued at VND133,000 ($5.45) each by international valuation agency.
Metro Star receives an award from Ho Chi Minh City authorities for strong performance 2005-2023 performance. Photo courtesy of the firm.
Metro Star has won high regard from international agencies for its achievements. For instance, although the real estate market is struggling, Metro Star is flying high with distinctive features such as having no outstanding bond debt or bank debt, as noted by auditor E&Y and realty service provider CBRE. Based on its strengths in cooperating with foreign partners and having its shares evaluated internationally, Metro Star plans an international listing soon.
In the last 18 years, Metro Star has grown significantly in terms of project scales, revenue, profit, and returns for customers. Its portfolio grew from 6,000 square meters in 2014 to 18,000 in 2016 and 252,000 in 2023. The company expects its revenues to rise from VND600 billion ($24.6 million) in 2017 to VND6 trillion ($246 million) in 2024 and up to VND23 trillion ($943.1 million) in 2027. It profits reached VND300 billion in 2017 and is expected to increase to VND3 trillion in 2024 and VND9 trillion ($369 million) in 2027.
Investors in the firm’s projects have also reaped handsome gains including a profit of 100% for investors in its Metro Star project and 300% in its I-Home project.
The completion of six metro projects in HCMC are expected to multiply the value of nearby property projects. CBRE has granted “perfect” scores for the firm’s projects, including Metro Star and Metro City, thanks to their prime locations and top prospects that will ensure long-term growth for the company.
Metro Star Investment Co., Ltd
Hotline: 090 789 6565
Address: 360 Vo Nguyen Giap avenue, Phuoc Long A ward, Thu Duc city, Ho Chi Minh City
