Phat Dat commences construction of Thuan An 1 High-rise Residential Complex in Binh Duong

On January 19, 2024, Phat Dat Real Estate Development Corporation (HOSE: PDR) held a groundbreaking ceremony for Thuan An 1 High-rise Residential Complex in Binh Duong Province.

Situated in Binh Duong Province, Thuan An 1 High-rise Residential Complex obtained its construction permit on December 26, 2023. Just three weeks later, the project swiftly commenced construction, starting with the foundation, piles, and perimeter walls.

Groundbreaking ceremony of Thuan An 1 High-rise Residential Complex in Binh Duong on January 19, 2024

Located on Nguyen Thi Minh Khai Street in Hoa Lan 1 Ward, Thuan Giao District, Thuan An City, Binh Duong Province, Thuan An 1 High-rise Residential Complex covers about 1.8 hectares, with 39 floors and 3-4 basement levels, accommodating nearly 2,700 apartments and shophouses. Erected within the larger 4.4-hectare development that includes both Thuan An 1 and Thuan An 2, Thuan An 1 is poised to generate substantial cash flow for Phat Đat in 2024.

Benefiting from its prime location in the central development area of Thuan An City with direct access to Binh Duong Avenue, Phu Loi Street, and My Phuoc – Tan Van Street, the project enjoys a well-established transportation infrastructure and connectivity to its surroundings.

Three weeks after obtaining the permit, the project officially commenced construction on January 19, 2024.

Mr. Bui Quang Anh Vu, CEO of Phat Dat Real Estate Development Corporation, emphasizes the company’s focus on projects that align with real housing demands to achieve the highest absorption rate. Thus, Thuan An 1 High-rise Residential Complex is poised to be one of the key large-scale projects in Binh Duong Province, addressing the increasing housing demand in the area.

Thuan An 1 High-rise Residential Complex is located on Nguyen Thi Minh Khai Street in Hoa Lan 1 Ward, Thuan Giao District, Thuan An City, Binh Duong Province.

The ability to swiftly navigate legal procedures positions Phat Dat with preparedness and robust resources to implement not only Thuan An 1 but also other projects when the real estate market recovers. Thuan An 1 High-rise Residential Complex serves as a significant stride for Phat Dat, propelling its projects’ implementation and construction to deliver high-quality products that meet real housing demands in 2024.

As reported by the provincial Department of Construction, the province currently hosts 29 industrial parks spanning 12,600 hectares, with an occupancy rate of 91%. As a result, nearly 2 million workers from nationwide and foreign countries contribute to a substantial housing demand in the area.

As of November 2023, the Planning and Investment Department of Binh Duong Province reports an impressive tally of 4,211 investment projects from 65 countries and territories. The registered capital for these projects surpasses $40.3 billion, solidifying Binh Duong’s status as the country’s second-highest recipient of foreign direct investment, trailing only Ho Chi Minh City.