Phat Dat Real Estate Development JSC’s bond debts reached zero on Monday after the firm made its final repayment, marking the massive efforts made to solve its bond issues amid the challenging real estate market. This is one of the conditions the firm has created for a strong rebound towards higher goals, said CEO Bui Quang Anh Vu.
Phat Dat Real Estate’s achievement of zeroing its bond debt before the end of 2023 is a beacon for the ailing real estate market this year. What are your thoughts on this?
Phat Dat Real Estate Development JSC (listed on the Ho Chi Minh Stock Exchange as PDR), and other real estate businesses have been through a rough year. We have seriously analyzed and understood the heavy short-term and long-term issues facing the business, aiming to find the best solutions to each problem, while maintaining our credibility and responsibility throughout the process.
PDR exerted the same efforts on the bond debt issue. To maintain our credibility and responsibility to bond holders, the firm made payments without any delays or postponements.
Such efforts have earned PDR the respect and trust of partners. Credibility, responsibility, capacity, and determination are PDR’s core power and the key to earning partners’ trusts.
Besides bonds, how is PDR performing in other tasks?
PDR has a strong will to progress and the firm understands it has passed through a challenging phase, but problems can arise at any time amid the struggling market. In this spirit, the company will continue boosting its core businesses and build suitable strategies, with a focus on selling products to fortify its cash flow.
At the moment, PDR is only focusing on developing products that meet customers’ demands and the market’s absorption rate, while maintaining its financial health and control to establish cash flow for stability.
In short, PDR has overcome challenges and will advance its business with strong but cautious efforts to ensure stability and efficiency.
Can you shed light on PDR’s plans, at least for 2024?
PDR has six projects ready for deployment with an expected total revenue of over VND40 trillion ($1.65 billion). The key products are apartments, unoccupied land lots, and tourism properties. Though the real estate market is not expected to pick up instantly, PDR holds high hopes of pushing its business activities and meeting ambitious targets.
From a market perspective, macroeconomic and microeconomic factors are becoming more and more favorable for real estate firms, such as the country’s policies for economic recovery and the banking sector’s low interest rates.
For PDR itself, the firm’s projects focus on customers' demands, especially those in prime locations or with high potential such as Danang city and the provinces of Binh Duong, Binh Dinh, and Ba Ria-Vung Tau.
PDR’s products are developed per market trends and demands, as well as customers’ budgets.
Regarding the legality of its projects, PDR always complies with the legal framework of the localities it opperates in and has it projects officially approved. Besides, the firm is accompanied by banks and financial institutions to provide the best support for customers.
As a result, PDR is striving to create conditions for a strong rebound towards higher goals.