SCR

Only 3 of 20 tracked real estate stocks posted gains in early 2026, with NVL and VHM exceptions, as rising interest rates pressure the sector. VIS Rating warns of tighter credit controls and higher borrowing costs, which are expected to slow homebuyer demand and increase reliance on bonds and equity for developers.

TTC Land (SCR) has accepted the resignation of Deputy General Director Nguyen Thi Nghi effective May 7, 2026, and appointed To Hoai Long as a Board member from April 23, 2026. The changes come as the company reported Q1 2026 after-tax profit of VND 11.7 billion, up 515% year-on-year, but only 9.3% of its full-year target.

SCR targets a strategic shift to recurring income with TTC Plaza Da Nang, a 18-storey commercial complex set to open in Q3/2026. The company's Q1/2026 net profit rose nearly 9x year-on-year to VND 13B, signaling a turnaround from prior difficulties.

TTC Land (SCR) plans to issue nearly 186 million shares to swap for a 43.2% stake in TTN, raising its ownership to 99.6% and consolidating VND 1,300 billion in assets. This move aims to combine SCR's land bank with TTN's established property management and high-occupancy rental portfolio to create a more stable, recurring cash flow model amid a restructuring real estate market.

TTC Land (SCR) is proposing a share issuance to swap for shares in Thanh Thanh Nam (TTN), aiming to expand its operating asset portfolio and increase stable rental income. The transaction would add over 42,000 m² of leasable space, boosting SCR's total portfolio to over 208,000 m², while integrating TTN's property management expertise to enhance operational efficiency.