<article><a style="color: #000080" href="http://www.ninhvanbay.vn/quan-he-co-dong/ninhvanbay-vn-%E2%80%93-cong-ty-co-phan-bat-dong-san-va-du-lich-ninh-van-bay.aspx">Ninh Van Bay Travel Real Estate JSC</a>, or Ninh Van Bay, is looking to sell its projects to raise capital for operation.</article>

<a style="color: #000080" href="http://www.ninhvanbay.vn/quan-he-co-dong/ninhvanbay-vn-%E2%80%93-cong-ty-co-phan-bat-dong-san-va-du-lich-ninh-van-bay.aspx">Ninh Van Bay Travel Real Estate JSC</a>, or Ninh Van Bay, is looking to sell its projects to raise capital for operation.
The turmoil in the Vietnamese real estate market in 2014 affected the company&#8217;s capability of raising funds, mainly due to sluggish demand, the company said in a statement.
It is seeking investors for its projects &#8211; Six Senses Saigon River, Emeralda Ninh Binh and Emeralda Hoi An, aiming to “increase the company’s financial capacity”.
Regarding the Six Senses Saigon River, which was built with total investment of VND723 billion ($33.6 million) in the first phase of implementation, Ninh Van Bay said that it is considering its sale to another investor. According to the company, this move will help it concentrate its resources on other key projects.
In addition, the serving object of this Dong Nai province-based project will be shifted from tourism to commercial urban housing, a move to increase its economic efficiency.
<a style="color: #000080" href="http://dealstreetasia.com">DEALSTREETASIA</a> has learnt that investors like the <a style="color: #000080" href="http://www.sixsenses.com/">Six Senses Group</a> in the Middle East, and an investor introduced by the US-based real estate firm <a style="color: #000080" href="http://www.cbre.com/EN/Pages/Home.aspx">CBRE Group</a> are interested in Ninh Van Bay’s Six Sense Saigon River.
Meanwhile, the company has decided to further invest VND1 billion ($46,300) in Emeralda Hoi An and VND9 billion in Six Senses Saigon River this year.
“The local property market is expected to recover and stabilise this year. The revised laws on enterprise, real estate and houses will take effect, contributing to improving the real estate investment environment,” the company chairman Le Xuan Hai said.
Meanwhile, it will boost the exploitation of other resorts that are already in operation.
Last year, Ninh Van Bay&#8217;s debt to equity and debt to total asset ratios reached 51.46 and 30.3 per cent, respectively. Its financial indicators, including revenue and profits before tax and after tax, all declined, compared to 2013, reaching VND61.11 billion (revenue) and VND35.18 billion (profit after tax), following the losses made in 2011 and 2012.
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Ninh Van Bay Travel Real Estate JSC, or Ninh Van Bay, is looking to sell its projects to raise capital for operation.

Vietnam's Ninh Van Bay to sell projects amid financial burdens

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