Phat Dat Real Estate Development Corporation: Preparing for Renewed Prospects

On March 26, 2024, in Hanoi, Phat Dat Real Estate Development Corporation (PDR) participated in the seminar “Identifying spotlights in business and investment in 2024.” As the only real estate enterprise attending the discussion on “Investment opportunities in the Real Estate and Stock Markets,” Mr. Bui Quang Anh Vu – CEO of PDR, shared insights into the market recovery phase as well as PDR’s adaptability during difficult periods.

2023: Bond redemption before maturity and Successfully Private share Placement

On December 25, 2023, Phat Dat achieved a significant milestone by redeeming the remaining two bond issues totaling VND 800 billion before maturity. The Company officially cleared all VND 2.5 trillion bonds on time, even ahead of schedule, thereby eliminating all bond-related debts as previously announced.

Mr. Bui Quang Anh Vu, CEO of PDR, addressed the press during the seminar.

Amidst a challenging financial landscape and with many real estate enterprises grappling with the crisis, this accomplishment stands out as a testament to Phat Dat’s resilience. Prior to this feat, the Company successfully raised capital through a private share placement, attracting over VND 670 billion from professional securities investors.

Settling all bonds and successfully raising capital not only alleviated PDR’s short-term debt burden and bolstered its financial standing but also underscored its unwavering efforts to honor all commitments in its partnerships.

2024: Recovery speed and efforts to move forward

In the stock market, PDR surged to its ceiling price of VND 30,750 per share on March 21, marking its highest point since November 2022, accompanied by a remarkable trading volume of 40.2 million shares, the highest seen in nearly 16 months. By March 26th, PDR shares had further climbed to VND 31,450 per share. Compared to early March 2023, Phat Dat’s shares have risen by over 200% within a year, placing it among the top performers in the real estate sector during this period.

PDR is set to issue 134 million shares to its existing shareholders, aiming to raise VND 1.34 trillion in 2024.

Benefiting from robust recovery momentum, solid financial indicators, a low debt ratio, a strong corporate foundation, and a diverse range of development plans, Phat Dat is highly regarded for its preparedness to capitalize on early market opportunities.

Beyond the promising outlook in the stock market, Phat Dat is currently finalizing procedures to raise its capital through share issuance to existing shareholders, with an expected inflow of VND 1.34 trillion this year.

Thanks to its complete legality, the Company’s real estate projects have secured vital capital support from financial partners. Towards the end of 2023, the Company secured comprehensive collaboration worth VND 6 trillion with MB Bank for the high-rise residential complex in Binh Duong Province. In February 2024, MB Bank continued its support by offering a loan package worth VND 1.5 trillion for a project situated in Binh Dinh Province.

2024: A focus on cash flows

Mr. Bui Quang Anh Vu emphasized, “The real estate market in 2024 remains cautious. Therefore, the involvement of enterprises with high readiness will help restore confidence.” Hence, Phat Dat is not merely waiting for general market opportunities but actively exploring new possibilities to bolster the overall industry vitality.

An essential pillar of Phat Dat’s confidence in its recovery lies in its portfolio of prime projects, legal compliance, diverse product offerings, and apt product designs, all contributing significantly to the development of the host localities.

Bac Ha Thanh Residential Area combined with urban renovation (Phuoc Thuan Commune, Tuy Phuoc District, Binh Dinh).

In 2024, Phat Dat is directing all its resources, particularly financial and human, towards amplifying sales efforts to achieve ambitious cash flow targets. As part of its strategy, PDR will introduce four key projects to the market, including Thuan An 1 and 2 in Binh Duong, Poulo Condor in Con Dao, Cadia Quy Nhon, and Bac Ha Thanh in Binh Dinh.

Phat Dat is steadfast in its product development approach, prioritizing factors such as convenient transportation access, targeting promising markets with economic, social, tourism, and commercial growth dynamics, especially those with high demand. These endeavors are anticipated to yield revenues of around VND 40 trillion this year.