PDR: December 2024’s IR Newsletter

Phat Dat Real Estate Development Corporation (HoSE: PDR) has released its December 2024 IR newsletter, providing key information on the economy, the real estate market, and PDR’s business operations.

In terms of macroeconomic overview, the economy has been showing positive changes. The most promising sign is the accelerated credit growth, reaching 12.5% as of December 7, with recovery observed across most sectors. While the manufacturing sector continues to recover from the short-term impact of Typhoon Yagi, exports and FDI remain highlights, making new records. Notably, registered FDI in the real estate sector reached a record USD 5.6 billion in the first 11 months of 2024, a 95% increase year-on-year.

In line with macroeconomic trends, Vietnam’s real estate market showed positive signals in late 2024. The National Assembly approved several important laws and resolutions to ease difficulties for businesses, particularly social and commercial housing projects. A significant highlight is the pilot project allowing commercial housing development through land use rights agreements, which could increase housing supply in major urban areas.

As for Phat Dat’s recent news, the most notable developments include its new business strategy announcement and partnerships with key market players for the upcoming projects towards 2027:

• Big Four Real Estate Investment and Consultancy JSC is responsible for business strategy planning, marketing, and branding for three projects: Thuan An 1 & 2 High-Rise Residential Complex (Binh Duong), Poulo Condor Resort Complex (Ba Ria – Vung Tau), and Serenity Phuoc Hai Resort Complex (Ba Ria – Vung Tau).
• Realty Holdings JSC handles business strategy planning, marketing, and branding for Quy Nhon Iconic (Binh Dinh).
• The consortium of G.Empire Group and Mai Viet Land is exclusively distributing and marketing two key projects: Nhu Nguyet Commercial-Service Complex (Da Nang) and Q1 Tower (No. 1 Ngo May, Quy Nhon, Binh Dinh).

Collaborating with these major partners is a strategic move to optimize project marketing and sales while reinforcing Phat Dat’s reputation and position in the Vietnamese real estate market. With a solid legal foundation, a diverse project portfolio, and a promising real estate market outlook for 2025, Phat Dat is confident in achieving its business targets.

As the first step toward realizing its 2024-2027 business goals, PDR held a product selection event for phase 1 of Quy Nhon Iconic (commercial name of Bac Ha Thanh Urban Area) on December 3, 2024. Thanks to its favorable location, complete legalities, attractive discounts, and strong demand, the project has garnered significant interest from investors, especially in the context of Binh Dinh real estate market preparing to enter a strong development phase. The event was a great success, with 181 out of 181 products reserved, achieving a 100% booking rate.

Adding to its success, on December 5, PDR was honored in the Top 50 Best Corporate Governance Companies (VNCG50) by the Vietnam Institute of Directors (VIOD). The VNCG50 award is supported by major organizations, including the International Finance Corporation (IFC), the Swiss State Secretariat for Economic Affairs (SECO), and the State Securities Commission of Vietnam (SSC). The award is based on the ASEAN Corporate Governance Scorecard (ACGS), recognized as a leading corporate governance standard in the region.

On the same day, PDR also received multiple awards in the human resources field, announced by CareerViet. Specifically, PDR was honored with several titles for large enterprises in the “Employer of Choice 2024” program: Top 2 Most Favorite Real Estate Employer, 32nd in the Top Employer of choice, 5th in the Top 10 Most Favorite Employers by Internal Staff, and 5th in the Top 10 Most Favorite Employers by Industry Candidates

In the industrial real estate segment, there was positive news as the Phat Dat – Dung Quat 2 Industrial Park project (Quang Ngai) received directives from local authorities to resolve legal issues, facilitating land allocation and ensuring timely project implementation. Other industrial park projects, such as Cao Lanh (Dong Thap) and Ham Ninh (Phu Quoc), are also being strategically developed, highlighting Phat Dat’s vision in the industrial real estate sector.

Phat Dat anticipates a busy and fruitful 2025, with numerous high-potential projects expected to be successfully launched with the support of strategic consulting partners. Key projects slated for next year include Quy Nhon Iconic, Thuan An 1 & 2 High-Rise Residential Complex (Binh Duong), Q1 Tower Commercial-Service Complex (Ngo May, Quy Nhon), and Poulo Condor Resort Complex (Ba Ria – Vung Tau).

For detailed information, please refer to the full newsletter here.