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Vietnam property developer Vingroup sees revenues surge

Luxury segment boosts 2016 earnings; group expands into affordable housing

Vingroup Times City luxury housing complex in Ha Noi

HO CHI MINH CITY -- Vietnamese property developer Vingroup logged a 72% increase in revenue to 58.5 trillion dong ($2.6 billion) last year, 30% higher than its full-year target. Key growth drivers were the real estate, retail and tourism segments.

Net profit attributable to shareholders of the parent company was up 27% to over 1.5 trillion dong from a year ago.

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