Developing 'iconic' projects in new HCMC's urban cores a strategic direction of Phat Dat: chairman

By Linh Linh, Minh Hue
Tue, September 2, 2025 | 7:21 pm GMT+7

The sale of 88 million shares of Phat Dat Real Estate Development Corp. (HoSE: PDR) is to mobilize capital to accelerate the company’s next growth phase, said chairman Nguyen Van Dat.

Dat, a major property entrepreneur in Ho Chi Minh CIty, also emphasized that sustainable development, disciplined execution, and shareholder value remain at the core of his leadership vision.

Chairman of Phat Dat Real Estate Development Corp. Nguyen Van Dat. Photo courtesy of the company.

Chairman of Phat Dat Real Estate Development Corp. Nguyen Van Dat. Photo courtesy of the company.

The news of your sale of 88 million PDR shares immediately drew significant attention. Why did you choose this timing to make such a move?

I understand the market’s reaction, as it is a considerable figure. However, I want to emphasize that this is a negotiated transaction, not a sale on the open market and absolutely not a divestment move. On the contrary, this decision is part of my proactive preparation to mobilize resources in support of Phat Dat whenever needed.

Phat Dat is entering a very critical phase: after a strong restructuring, we are ready for a new growth cycle. To move fast and decisively, we need significant and urgent resources. So both the company and I must act decisively and adapt flexibly.

The shares I decided to sell represent only a portion and I still hold 36.45% of Phat Dat, remaining the largest shareholder. This confirms my commitment to stay onboard. Phat Dat is part of my very being. I intend to use all proceeds from the sale to support the company’s new investment plans whenever necessary.

Do you mean you are putting the interests of Phat Dat and its shareholders above your personal interests?

Absolutely. I believe sustainable corporate development must be driven by a commitment to the collective good. Personally, I may sacrifice some short-term gains, but in return, Phat Dat and its shareholders will gain stronger and more sustainable long-term positioning.

In the current context where the real estate sector sees positive shifts, I want to prove that a business leader must not merely wait for the market, but proactively create opportunities. This share sale is a clear action to affirm that I prioritize the company’s development and shared future above all.

Could you elaborate on how the nearly VND2 trillion ($75.92 million) raised from this sale will be used to support Phat Dat?

We are entering an acceleration phase with ambitious and fast-paced plans ahead. In addition to expanding our land bank and project development in satellite urban areas surrounding Ho Chi Minh City, we are pursuing a strategic direction to develop iconic projects in the urban cores of the new Ho Chi Minh City (formed by the merger of the former HCMC, Binh Duong province, and Ba Ria-Vung Tau province), and Hanoi. We are currently in negotiations for several large-scale projects.

The Thuan An 1 & 2 project developed by Phat Dat in Ho Chi Minh City. Photo courtesy of Phat Dat.

The Thuan An 1 & 2 project developed by Phat Dat in Ho Chi Minh City. Photo courtesy of Phat Dat.

These new projects will feature professionally developed infrastructure and product designs to distinguish the Phat Dat brand and deliver greater value to customers.

Hence, having prepared capital is absolutely essential to ensure the company’s strength and agility in capturing optimal opportunities.

Alongside my personal preparations, Phat Dat is actively collecting receivables from the La Pura project in HCMC, preparing for the next sales phase of Quy Nhon Iconic in the former Binh Dinh province (now Gia Lai province), and restructuring our investment portfolio.

We are optimizing the transfer of assets like Q1 Tower, Thuan An 1 & 2, and Han River in HCMC. All these activities will create a strong synergy to generate ample financial resources for Phat Dat.

Our goal is to quickly enhance our financial strength to an outstanding level, enabling us to take on high-potential projects that generate fast and strong cash flow, thereby fueling breakthrough growth.

Sound financial decisions are launchpads for swift and decisive business actions. The market is evolving daily and if we hesitate, we risk missing great opportunities.

The real estate market is showing positive signs, but are you concerned that “high-speed breakthroughs” could carry risks?

I never ignore or underestimate risks. That is why I strongly believe in the principle: “Speed must go hand in hand with discipline.” We are not recklessly chasing opportunities but we are carefully selecting ones that align with Phat Dat’s capacity and strategy.

The key lies in preparation. With ample capital, we can proactively negotiate, acquire prime projects, and execute them cost-effectively and quickly. Without enough strength, we risk being passive and missing golden opportunities.

I choose to proactively reduce personal gain so that Phat Dat can move faster but at the same time, I ensure that every step the company takes is thoroughly calculated for both speed and sustainability.

After the share sale, you still hold 36.45% of Phat Dat, remaining the largest shareholder. What message do you want to send to shareholders and the market?

I want to emphasize three things. First, Phat Dat is a part of me. Every decision I make is for its growth. Second, I fully commit as a leader, and I am ready to support the company with personal capital whenever needed. Third, I have absolute faith in Phat Dat’s future, shown not only in words but through actions.

Shareholders can rest assured that I am not just an owner - I’m a builder of the company’s future. There is so much Phat Dat can accomplish when we are united.

Looking back, especially during the difficult phase the real estate industry went through, how do you assess Phat Dat’s transformation?

I am very proud of the efforts and determination shown during our intense restructuring process. We have gradually reduced debt, optimized cash flow, and built a new strategy more aligned with market dynamics. Through this, we have identified our key markets in the South, especially the former HCMC, Binh Duong, and Ba Ria-Vung Tau, and Dong Nai, as long-term growth areas.

The La Pura project developed by Phat Dat in Ho Chi Minh City. Photo courtesy of the company.

The La Pura project developed by Phat Dat in Ho Chi Minh City. Photo courtesy of the company.

In addition, we are constantly monitoring and exploring new opportunities in suitable markets.

Phat Dat is also shifting its mindset in product development - focusing on creating livable value and building communities based on new standards for long-term sustainability. This approach has helped us stay resilient in hard times and poised to break through as the market recovers.

Could you share more about your long-term vision for Phat Dat?

My vision is to transform Phat Dat into one of Vietnam’s leading real estate developers, adhering to international standards, based on three pillars: speed (swift response and decisive execution), efficiency (optimal use of capital and resources to ensure stable profits for shareholders), and sustainability (developing proud, value-driven products that enhance customer living standards).

We are currently executing a five-year plan for 2025-2030, with a goal to usher in a new era of growth for Phat Dat, both in scale and in quality.

On the Ho Chi Minh Stock Exchange (HoSE), PDR closed Friday at VND24,550 ($0.93) per share.

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