New downtown HCMC office a growth catalyst for realty firm Phat Dat

Phat Dat Real Estate Development Corporation conducted a topping out ceremony Friday for its “inspiring” office building on a prime land lot in downtown Ho Chi Minh City.

Located at 39 Pham Ngoc Thach street in District 3, the new office construction comprises four underground and 12 aboveground floors. Its official opening is set to be held in December.

Boasting a contemporary architectural style and open spaces, the 673.5-square meter building is designed to enhance connectivity and provide the best working environment for office employees.

It will be a model and inspiration for Phat Dat’s next projects, executives said, adding that the company will focus on creating healthy living and working environments in a move to boost labor productivity and meet global standards.

As part of Phat Dat’s sustainable development and continuous expansion, the building will become the firm’s headquarters, highlighting its stable financial prowess and potential capacity to deploy new projects in the future, they added.

In 2023-2024, Phat Dat, listed on the Ho Chi Minh Stock Exchange as PDR, targets to deliver more than 13,000 products to high-demand markets including the southern provinces of Binh Duong and Ba Ria-Vung Tau and the central localities of Binh Dinh and Danang. The key product segments will be residential, industrial and wellness.

Phat Dat is said to be among the few investors currently capable of completing legal procedures for projects amidst a sluggish market. In order to overcome relevant challenges, the firm has restructured its investment portfolio with a focus on projects in prime locations with outstanding values for customers.

PDR shares closed Friday at VND26,150 ($1.08) per unit, up 2.95%.