Phat Dat Real Estate Development signs a cooperation agreement with Samty Co., Ltd
HCM city on May 16th, 2019, Phat Dat Real Estate Development (ticker: PDR) successfully signed a cooperation agreement with Samty Asia Investments Pte. Ltd (Subsidiary of Samty Co., Ltd) – a leading real estate developer in Japan, via Vietnam New Urban Center LP. US$22.5 million investment will partly support PDR’s investment plan to develop a number of current projects of the Company, especially projects to be launched in Ho Chi Minh City.
The Chairman cum CEO, Mr. Nguyen Van Dat shared “It is our pleasure to sign a cooperation agreement with Samty Co., Ltd. – a leading real estate developer in Japan. This is an important milestone for PDR, to cooperate with foreign investors in project development and investment. Vietnam’s real estate market is assessed to have great potentials in the coming years and we are confident to introduce our projects to foreign partners. We are proud to affirm that PDR satisfies all criteria required by foreign investors when investing in Vietnam’s real estate market, which is our company’s reputation and strong capacity for project development”.
General Director of Samty Co., Ltd, Mr. Yasuhiro Ogawa, said, “Samty has decided to consider Vietnam as an important foreign investment market and we are very pleased to announce PDR as our partner in Vietnam. Vietnam market has been growing rapidly in recent years and we hope to grasp potentials and opportunities to invest in Vietnam’s real estate market. We highly appreciate Vietnam’s stability and the hard-working character of Vietnamese people. ”
Phat Dat Real Estate Development, with a long experience of real estate development over the past 15 years, has successfully developed projects within various segments ranging from large scale high-end apartment projects under The EverRich brand name, to townhouse and villa projects. PDR has built up its strength and capacity in project development throughout all segments, from intermediate to high-end segments in Ho Chi Minh City in addition to residential and urban areas in different localities throughout the country. The Company has recently pushed its investment strategy and development of land funds in coastal provinces, especially in areas where there is a high speed of tourism development such as Binh Dinh and Quang Ngai provinces. PDR has been listed at the Ho Chi Minh Stock Exchange since 2010 and has a market capitalization of VND 7,900 billion at the closing price on May 15, 2019. For the fiscal year 2019, PDR is estimated to reach VND 9,000 billion in revenue and VND 1,000 billion in pre-tax profit (an increase of 32% compared to the figure in 2018). With continuous efforts and excellent achievements during the course of 15 years, PDR has been recognized by domestic and foreign business community through a variety of prestigious awards, namely: Vietnam Property Award in 2017, Top 10 Real Estate Developer in Vietnam- BCI Asia in 2017, Vietnam’s 50 Best-performing Companies in 2017, Top 500 Largest Private Enterprises in Vietnam in 2018, ranked 62nd in Top 500 Private Enterprises in Vietnam by revenue and the 54th position in Top 500 fastest growing enterprises in Vietnam in 2018 …
Samty Co., Ltd, which is a general real estate developer based in Japan’s Kansai region, is incorporated in 1982 and listed on Tokyo Stock Exchange with a market capitalization of 54,788 million yen (about more than 500 million USD) and total assets estimated at over 1 billion USD. Samty’s Core businesses includes development and investment in real estate projects and commercial real estate for lease. Accordingly, the portfolio of real estate lease and investment is orientated to achieve stable development and diversification of asset structure including: system of offices, hotels and apartments for rent under the brand named S-Residence, which has been successfully invested and developed since 2005. With positive signs of market development for Real Estate Investment Trusts (REIT) in recent years, Samty is currently focusing on developing and shifting revenue structure from real estate development to portfolio of real estate leases.
