We see KBC’s medium-to-long-term potential stemming from its substantial remaining land bank in industrial and residential properties, with ample room for growth. Additionally, the imminent resolution of legal issues for many of KBC's key projects, which could be commercialized as early as 2025, is another positive factor supporting the stock price. Using the average of the NAV and PB methods, BVSC maintains an OUTPERFORM rating with a 12-month fair value estimate of VND41,503/share; representing a potential upside of 67.7% compared to the closing price on August 7, 2024.

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