Company Insight

Nam Long Investment Corporation (HOSE: NLG) is one of Vietnam's leading affordable real estate developers. The company also owns a large land bank of 681 hectares with excellent infrastructure connectivity. We expect (1) the focus on the affordable segment and (2) the ownership of a land bank ready for project development to help NLG take the lead in the real estate market recovery. In 2024, NLG's profit growth outlook is mainly driven by the handover of the Akari phase 2 project. Based on RNAV method, we recommend buy NLG with a target price at VND 47,300.