Phat Dat discloses capital disbursement progress from an additional share issuance

On December 18, 2024, Phat Dat Real Estate Development Corporation (PDR) published a report detailing the progress of capital disbursement from its share offering to existing shareholders. The report underscores Phat Dat’s commitment to transparency and its efforts to utilize the proceeds to accelerate strategic projects as planned.

Capital Raised and Allocation

The share issuance, completed on June 14, 2024, raised VND 1,343.29 billion. After deducting issuance costs, the net proceeds amounted to VND 1,342.65 billion. This capital has been allocated to four key projects:

1. Nhon Hoi Project (Zones 2 and 9): VND 132 billion
2. Quy Nhon Iconic (Bac Ha Thanh Urban Area): VND 511.29 billion
3. Q1 Tower – Ngo May: VND 400 billion
4. Thuan An 1 & 2 Complex (Binh Duong): VND 300 billion

Disbursement Progress

Within just six months, Phat Dat has disbursed over VND 1,128 billion, achieving 84% of the planned disbursement. Specifically:

• Nhon Hoi (Subzones 2 and 9): Over VND 117 billion disbursed
• Bac Ha Thanh (Quy Nhon Iconic): Nearly VND 330 billion disbursed
• Q1 Tower – Ngo May: Over VND 388 billion disbursed
• Thuan An 1 & 2 Complex: Nearly VND 293 billion disbursed

The rapid disbursement demonstrates Phat Dat’s determination to ensure timely project implementation and readiness for the business phase.

On-Site Progress at Quy Nhon Iconic (Bac Ha Thanh)

Strategic Projects and Business Plans

Phat Dat’s strategic projects are being developed synchronously, with several approaching the business phase, promising substantial revenue contributions in 2025:

• Quy Nhon Iconic (Bac Ha Thanh): Achieved remarkable success with a 100% absorption rate during the first strategic sales launch. Revenue from the initial sales phase is estimated to reach VND 1,000 billion in Q4.2024, significantly contributing to year-end business results.
• Q1 Tower – Ngo May and Thuan An 1 & 2 Complex: Planned for sales launches in 2025. With prime locations and modern designs, Q1 Tower – Ngo May is set to become a new landmark in Quy Nhon, and Thuan An 1 & 2 Complex will continue to affirm Phat Dat’s appeal in Binh Duong, a vibrant industrial and urban center

Sale Gallery at Thuan An 1 & 2 Complex, Binh Duong

Transparency and Credibility – Foundations for Sustainable Development

The detailed report on capital utilization progress serves as a testament to Phat Dat’s commitment to financial transparency and responsibility in executing its planned strategies. This report reinforces shareholder and investor confidence in the company’s management & project development capabilities.

Looking ahead to 2025, Phat Dat is focusing on completing its strategic projects, optimizing business efficiency, and leveraging opportunities in key real estate markets. With a clear roadmap, Phat Dat continues to maintain its leading position in the real estate sector while ensuring sustainable benefits for shareholders and investors.

For detailed reports, click here.