December 2024 concluded with optimistic signals from both the macro economy and real estate sector, offering significant growth opportunities for leading enterprises like Phat Dat. Amid positive market momentum, Phat Dat is not only strengthening its internal capabilities but also affirming its pioneering role through a series of strategic projects, ready to embrace a new development cycle in Vietnam’s real estate industry.

Quy Nhon Iconic Project in Binh Dinh qualified for Sales

Vietnam’s economy in 2024 recorded impressive growth, with GDP reaching 7.55% in Q4 – the highest in recent years, and the Industrial Production Index (IIP) rising by 8.8% in December. Foreign direct investment (FDI) reached a record $31.4 billion over 11 months, with real estate attracting $5.63 billion, up 95% YoY. These figures not only underscore the appeal of the economy but also create substantial opportunities for the real estate sector, particularly for projects with transparent legal frameworks and sustainable development potential.

Real estate sector attracts $5.63 billion in foreign investment

Driven by positive market dynamics, both demand and property values in major cities such as HCMC and Hanoi have experienced significant growth. Apartment prices in Hanoi rose by 58%, while townhouse prices in HCMC increased by 17% compared to the previous year, spurring urban expansion and satellite city development. This has provided a considerable advantage for Phat Dat, especially with its strategic projects in Binh Duong and Binh Dinh – two regions receiving substantial investments in infrastructure and legal frameworks.

Real estate prices continue to rise in Q4.2024

Infrastructure development is a key driver of robust growth in the real estate market. Major projects such as HCMC’s Ring Roads 3 and 4, the second phase of the North-South Expressway, and Long Thanh International Airport not only improve inter-regional connectivity but also stimulate the development of satellite cities. These projects present significant advantages for Phat Dat’s developments, particularly Thuan An 1 & 2 in Binh Duong, as well as Quy Nhon Iconic and Cadia Quy Nhon in Binh Dinh.

Ring Roads 3 and 4 will boost connectivity between HCMC and satellite cities

The Thuan An 1 & 2 project in Binh Duong has recorded faster-than-expected construction progress, with several key components already completed. With the implementation of the new land price framework, the project is expected to achieve important legal advancements in Q1.2025, paving the way for handover and occupancy in the near future.

Thuan An 1 & 2 in Binh Duong accelerates construction progress

Meanwhile, in Binh Dinh, Quy Nhon Iconic has reaffirmed its leading position, with all 627 units in phase 1 now eligible for sale. Benefiting from strategic connectivity to Phu Cat Airport, which is undergoing an expansion with a total investment of over VND 7.3 trillion, Quy Nhon Iconic offers strong liquidity and has attracted considerable investor interest thanks to its prime location and transparent legal status.

Quy Nhon Iconic provides direct access to Phu Cat Airport in under 20 minutes

In addition, Phat Dat is actively expanding its land bank and building a long-term strategy. Recently, the company invested VND 650 billion to acquire a property in District 3, HCMC, with plans to develop a modern Sales Gallery, supporting its goal of selling VND 40–50 trillion worth of products in the new cycle. This move not only highlights Phat Dat’s strong financial position but also demonstrates its long-term vision in business strategy.

Phat Dat’s efforts have been recognized with the Top 100 Vietnam Golden Stars Award 2024, a prestigious accolade honoring outstanding brands and businesses that have made significant contributions to Vietnam’s socio-economic development.

For detailed information, view the full newsletter here.

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Developed by Phat Dat Real Estate Development Corporation (PDR), Quy Nhon Iconic is located in Phuoc Thuan Commune, Tuy Phuoc District, Binh Dinh Province, and spans 43.16 hectares. The project is planned as a modern urban area, offering various property types such as villas, townhouses, and shop-houses, with a total of 1,422 units.

Previously, on December 2, 2024, the Binh Dinh Department of Construction had confirmed the eligibility of 92 shop-houses for sale as off-the-plan properties under Document No. 4469/SXD-QLNPTĐT.

The recent confirmation of 535 additional land plots eligible for transfer is a positive signal, underscoring the developer’s credibility and the project’s growth potential. This move not only meets local housing demand but also contributes to stimulating the regional real estate market and promoting socio-economic development in Binh Dinh province.

Quy Nhon Iconic has garnered significant attention due to its prime location along the new National Highway 19 – a key traffic artery connecting the Central Highlands to Quy Nhon Port, linking Phu Cat Airport to downtown Quy Nhon. The project also boasts a diverse range of on-site amenities, including parks, schools, shopping centers, and recreational areas. Its riverside setting along the Ha Thanh River offers an ideal living environment, appealing to many customers and investors.

With steady progress and comprehensive legal approvals, Quy Nhon Iconic promises to become a model urban area, enhancing the quality of life for residents and fostering sustainable growth for Quy Nhon City in the future.

In addition to Quy Nhon Iconic, Phat Dat is advancing several major projects between 2024 and 2027, such as Q1 Tower (No. 1 Ngo May Street, Quy Nhon, Binh Dinh), Nhu Nguyet Commercial & Service Complex (Da Nang), Thuan An 1 & 2 High-Rise Residential Complex (Binh Duong), Poulo Condo Resort Complex (Con Dao, Ba Ria – Vung Tau), and Serenity Phuoc Hai Commercial & Service Complex (Ba Ria – Vung Tau). These projects are projected to generate a total revenue of VND 50 trillion for Phat Dat by 2027.

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The Vietnam Golden Star Award not only acknowledges the remarkable achievements of businesses in their operations but also emphasizes their pioneering role in sustainable development and in enhancing the quality of products and services. Over its 21-year history (2003–2024), the award has become a symbol of pride for Vietnamese businesses in the context of international integration, widely recognized by society and the business community.

Earlier, Phat Dat was also named among the Top 50 Best Corporate Governance Companies (VNCG50) by the Vietnam Institute of Directors (VIOD) and ranked second in the “Most Favorite Real Estate Employer – Leasing Sector” (Large Corporate Category) under the “Employer of Choice 2024” program announced by CareerViet.

Established in 2004, Phat Dat has consistently asserted its position as one of the leading brands in Vietnam’s real estate sector. The company has developed numerous large-scale projects with modern designs, helping to shape urban areas and delivering high-value utility to customers.

From now until 2027, Phat Dat plans to launch at least six major projects, including Quy Nhon Iconic (Binh Dinh), Thuan An 1 & 2 High-Rise Residential Complex (Binh Duong), Ngo May Quy Nhon Commercial & Service Complex (Q1 Tower), Serenity Phuoc Hai Commercial & Service Complex (Ba Ria – Vung Tau), and Poulo Condor Resort Complex (Ba Ria – Vung Tau). These projects are expected to generate VND 50 trillion in revenue for the corporation while further solidifying Phat Dat’s leading position in Vietnam’s real estate market.

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1. Real Estate Project Information

a. Investment Approval for the Project:

• Decision No. 3105/QĐ-UBND dated July 31, 2020, by the People’s Committee of Binh Dinh Province, approving the selection of Phat Dat Real Estate Development Corporation as the developer for the Bac Ha Thanh Residential Area in combination with urban gentrification Project in Phuoc Thuan Commune, Tuy Phuoc District.
• Land-Use Investment Project Contract No. 02/HĐ.DASDĐ dated October 7, 2020, signed between the Department of Construction of Binh Dinh Province and Phat Dat Real Estate Development Corporation.

– Appendix No. 01 to the Land-Use Investment Project Contract dated September 26, 2024.

– Appendix No. 02 to the Land-Use Investment Project Contract dated November 20, 2024.

• Document No. 9009/UBND-KT dated November 8, 2024, from the People’s Committee of Binh Dinh Province concerning matters related to the Bac Ha Thanh Residential Area in combination with urban gentrification Project.
• Document No. 10232/UBND-KT dated December 18, 2024, from the People’s Committee of Binh Dinh Province, stipulating that individuals acquiring land-use rights in subdivided plots must complete home construction within the project.

b. Land Allocation, Leasing, and Conversion Approval by Competent Authorities:

• Decision No. 3419/QĐ-UBND dated September 15, 2023, by the People’s Committee of Binh Dinh Province on the first phase of land allocation and leasing to Phat Dat Real Estate Development Corporation, covering a total area of 212,992 m², including 91,433.37 m² for residential purposes.
• Decision No. 2291/QĐ-UBND dated June 27, 2024, on land allocation for building technical infrastructure for resettlement and social housing under the Bac Ha Thanh Residential Area in combination with urban gentrification Project.
• Decision No. 2889/QĐ-UBND dated August 13, 2024, on the third phase of land allocation and leasing for project implementation.
• Land Use Rights Certificate No. DĐ 511111, registered under Certificate No. CT19248, issued by the Department of Natural Resources and Environment on November 7, 2024, for an area of 98,699.8 m², granted to Phat Dat Real Estate Development Corporation.

c. Detailed planning approved by competent authorities

• Decision No. 443/QĐ-UBND dated February 14, 2019, from the People’s Committee of Binh Dinh Province, approving the research and preparation of detailed planning for the Bac Ha Thanh Residential Area in combination with urban gentrification Project.
• Decision No. 82/QĐ-UBND dated January 8, 2020, approving the 1/500-scale detailed planning of the Bac Ha Thanh Residential Area in combination with urban gentrification Project in Phuoc Thuan Commune, Tuy Phuoc District.
• Decision No. 429/QĐ-UBND dated February 1, 2024, on approving partial adjustments to the 1/500-scale detailed planning.
• Document No. 4537/SXD-QHKT dated December 6, 2024, from the Department of Construction regarding the architectural plans for houses in the Bac Ha Thanh Residential Area in combination with urban gentrification Project.

d. Contract templates for real estate transactions

• Standard contract templates compliant with legal regulations.

2. Information on Land with Sufficient Infrastructure for Individual Home Construction

• Land Use Rights Certificate No. DĐ 511111, registered under Certificate No. CT19248, issued by the Department of Natural Resources and Environment on November 7, 2024, for an area of 98,699.8 m², granted to Phat Dat Real Estate Development Corporation.
• Document No. 4793/SXD-QLN&PTĐT dated December 24, 2024, from the Department of Construction, confirming that the land has sufficient infrastructure to allow individual home construction within the project. (Appendix attached)
• Infrastructure completion inspection certificate: Notification No. 816/TB-SXD dated November 15, 2024, from the Department of Construction, detailing the inspection results for completed infrastructure, specifically roadways and rainwater drainage systems, for Phase 1 of the project.
• Remaining infrastructure components shall fall under the Developer’s responsibility to complete and inspect following the project schedule, specifically: The following components have been completed: Power supply, water supply & fire protection system, technical trench, wastewater drainage, trees and lighting within the scope of construction permit according to the Minutes of Inspection of construction works of Bac Ha Thanh Residential Area combined with urban gentrification (phase 1) of the Department of Construction and Minutes of acceptance of completion of construction items No. 01/BBNTHTHM dated October 29, 2024 (water supply system), No. 02/BBNTHTHM dated October 29, 2024 (wastewater drainage system), No. 01/BBNTHTHM dated October 30, 2024 (tree items), No. 05/BBNTHTHM dated October 29, 2024 (lighting system), No. 06/BBNTHTHM dated October 29, 2024 (power supply system).

Confirmation of fulfillment of financial obligations related to land use and taxes, including land use fees, land rents, and taxes, fees, and charges related to land (if any) to the State according to the provisions of law for the land area with technical infrastructure in the real estate project put into business:

• Notification No. 2476/TB-CCTKV dated December 18, 2024, from the Tuy Phuoc – Van Canh Regional Tax Department, confirming the fulfillment of financial obligations related to land use.
• Document No. 4919/CTBDI-HKDCN dated December 19, 2024, from the Binh Dinh Provincial Tax Department, providing project-related information.

The project is currently mortgaged at Military Commercial Joint Stock Bank (MB Bank) under mortgage contract No. 192968.24.110.712864.BD, signed on March 5, 2024.

The post Public Announcement of Quy Nhon Iconic (Second Notice) appeared first on Phat Dat Corporation Real estate Development (HoSE: PDR).

On December 13, 16, and 17, the Tuy Phuoc – Van Canh Regional Tax Department of Binh Dinh issued multiple notices concerning land use fees, one-time lease payments for the entire lease period, registration fees for real estate, and non-agricultural land use taxes for the remaining allocated land area of Quy Nhon Iconic. These notices include:

1. Notice LTB2450719-TK0016748/TB-CCT dated December 13, 2024;
2. Notice LTB2450719-TK0016757/TB-CCT dated December 13, 2024;
3. Notice LTB2450719-TK0016758/TB-CCT dated December 13, 2024;
4. Notice 2426/TB-CCTKV dated December 13, 2024;
5. Notice LTB2450719-TK0016834/TB-CCT dated December 16, 2024;
6. Notice 2434/TB-CCTKV dated December 17, 2024;
7. Notice 2436/TB-CCTKV dated December 17, 2024;
8. Notice 2437/TB-CCTKV dated December 17, 2024;
9. Notice 2438/TB-CCTKV dated December 17, 2024.

Previously, Quy Nhon Iconic was qualified by the Binh Dinh Department of Construction to meet the conditions for selling off-the-plan properties in phase 1, covering 92 shop-houses. Shortly afterward, Phat Dat successfully completed sales purchase agreements with buyers for all 92 shop-houses, generating over VND 500 billion in revenue.

Quy Nhon Iconic boasts a prime location in one of the most promising areas of Quy Nhon, with a master plan offering comprehensive amenities and an upscale living environment. The project spans a vast area and caters to various customer needs. Thanks to its proximity to key transport routes, Quy Nhon Iconic provides excellent connectivity along with well-integrated amenities, including parks, commercial areas, educational institutions, and top-tier healthcare services in the region.

This is the first project in Quy Nhon to complete land use fee calculations under the new law, affirming Phat Dat’s credibility and legal competence in project development. Thus, in the product selection event on December 3, all 181 products available were fully booked. With a fast payment method for all customers, Phat Dat expects to record over VND 1 trillion in revenue from this project by Q4.2024.

All 181 products fully booked at the product selection event on December 3, 2024,

In addition to Quy Nhon Iconic, Phat Dat is actively developing several large-scale projects during the 2024-2027 period, including Q1 Tower (No. 1 Ngo May, Quy Nhon, Binh Dinh), Nhu Nguyet Commercial and Service Complex (Da Nang), Thuan An 1 & 2 Residential Complex (Binh Duong), Poulo Condo Resort Complex (Con Dao, Ba Ria – Vung Tau), and Serenity Phuoc Hai Commercial Complex (Ba Ria – Vung Tau). These projects are expected to generate total revenues of VND 50 trillion for Phat Dat by 2027.

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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.

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Notably, all shop-houses have been certified by the Binh Dinh Provincial Department of Construction as eligible for sale, reaffirming Phat Dat’s transparency and credibility. This has played a significant role in strengthening customer confidence.

Quy Nhon Iconic is a model urban area spanning 43.16 hectares, offering 1,422 products, including land plots, townhouses, and shop-houses. The project is located on National Highway 19, a vital route connecting Phu Cat Airport and Quy Nhon City center. With its three sides facing the Ha Thanh River, the urban area provides a modern living environment harmoniously integrated with nature.

Featuring a Mediterranean design style, the shop-house section brings new vibrancy to the project while maximizing value for investors, catering to both business and long-term residential purposes. The rapid sale of 92 shop-houses not only reinforces Phat Dat’s market reputation but also paves the way for the company to proceed with the next phases of the project.

Also in the strategic partnership signing event with Realty Holdings on December 3, the entire portfolio of 181 products was fully registered. With a payment rate of 95%, Phat Dat expects to record over VND 1 trillion in revenue from this project in Q4.2024.

In addition to Quy Nhon Iconic, Phat Dat is advancing several other major projects during the 2024-2027 period, such as: Q1 Tower (No. 1 Ngo May, Quy Nhon, Binh Dinh), Nhu Nguyet Commercial-Service Complex (Da Nang), Thuan An 1 & 2 Residential Complex (Binh Duong), Poulo Condo Resort Complex (Con Dao, Ba Ria – Vung Tau), and Serenity Phuoc Hai Commercial-Service Complex (Ba Ria – Vung Tau)

CGI of Thuan An 1 & 2 High-Rise Residential Complex (Binh Duong)

All these projects are expected to generate total revenue of VND 50 trillion for Phat Dat from now until 2027. With a long-term vision, Phat Dat is not only focusing on developing its strategic markets but also on enhancing living standards, building modern urban areas, and delivering sustainable investment value for customers.

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Located along the Ha Thanh River, Quy Nhon Iconic covers a total area of 43.16 hectares and is designed as a modern urban area featuring premium riverside villas, shop-houses, and townhouses (land plots). With its prime location and well-planned infrastructure, the project not only meets local residents’ needs for living and doing business but also serves as an attractive destination for investors.

Each property in Quy Nhon Iconic is designed to optimize space, ensuring ventilation and comfort. High-class on-site amenities such as swimming pools, gym, kid playgrounds, green parks, and a commercial center will provide residents with a comfortable and convenient lifestyle.

The approval of Quy Nhon Iconic (Bac Ha Thanh) for selling off-the-plan properties demonstrates Phat Dat’s credibility and capacity. With its experience and professionalism, Phat Dat is committed to delivering high-quality real estate products that fully meet legal and technical standards.

Binh Dinh emerges as an attractive destination thanks to infrastructure development and its goal to become a coastal economic hub in Central Vietnam

In addition to Quy Nhon Iconic, Phat Dat is currently developing several major projects for the 2024-2027 period, including Q1 Tower (No. 1 Ngo May, Quy Nhon, Binh Dinh), Nhu Nguyet Commercial Complex (Da Nang), Thuan An 1 & 2 Residential Complex (Binh Duong), and the Serenity Commercial Complex (Phuoc Hai, Ba Ria – Vung Tau). These projects are expected to generate a total revenue of VND 50 trillion for Phat Dat towards 2027.

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Previously, on December 3, 2024, Realty Holdings and Phat Dat Real Estate Development Corporation – the project’s developer – entered into a strategic partnership agreement for the distribution and development of Quy Nhon Iconic. Under this agreement, Realty Holdings assumes roles in strategic consulting, marketing, distribution, and branding of the project. With extensive experience and outstanding capabilities, Realty Holdings is committed to delivering exceptional added value for customers and investors.

Realty Holdings and Phat Dat Real Estate Development Corporation – the project’s developer – entered into a strategic partnership agreement for the distribution and development of Quy Nhon Iconic

Quy Nhon Iconic is a modern urban development covering an area of 43.16ha along the Ha Thanh River, featuring the region’s largest riverside park, which stretches 2 kilometers. The project includes various types of properties such as townhouses, shop-houses, and riverside villas, all designed in a neo-classical Mediterranean style to offer an upscale and unique living environment. Notably, this is the first project in Binh Dinh to have completed legal procedures in accordance with new regulations, with Phase 1 units already issued land-use right certificates.

Having fulfilled its financial obligations, Quy Nhon Iconic is fully prepared to launch, becoming a pioneer project in Binh Dinh.

The real estate market in Binh Dinh is gaining significant attention from investors due to its synchronized infrastructure development and key national projects. The government has planned to position the province as a leading development hub in the North Central and Central Coastal regions by 2030. Binh Dinh boasts a comprehensive transportation network, including road, rail, maritime, and air routes. Major projects such as the North-South Expressway, the high-speed railway, and Phu Cat Airport upgraded to international status are expected to drive strong regional growth.

With infrastructure and planning advantages, Quy Nhon is emerging as a promising destination.

Currently, real estate prices in Quy Nhon are only 30-50% of those in other coastal cities like Da Nang or Nha Trang, offering significant potential for growth once infrastructure and urban projects are completed. Quy Nhon Iconic is not only poised to become a model urban development but is also expected to bring fresh vitality to the local real estate market, contributing to the socio-economic development of Binh Dinh.

On December 10, 2024, Realty Holdings signed agreements with 22 strategic agency partners.

With the collaboration of Realty Holdings and reputable real estate agents, Quy Nhon Iconic, in becoming a new urban symbol in Central Vietnam, will be an ideal choice for customers seeking a premium living environment and lucrative investment opportunities.

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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.

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