Property developer Phat Dat among top 50 M&A deals

Phat Dat Real Estate Development Corp., listed on the Ho Chi Minh Stock Exchange as PDR, has been honored for one of the top 50 merger and acquisition (M&A) deals in 2021-2022.

Themed "Igniting New Opportunities", the M&A Vietnam Forum 2022 on November 23 attracted more than 500 participants, including experts, who discussed M&A opportunities in Vietnam. According to the event's statistics, in the first 10 months of 2022, Vietnam's M&A market welcomed $1.2 billion into the consumer sector; nearly $1 billion into real estate; and $800 million into manufacturing.

A $30-million investment from ACA Vietnam Real Estate III LP (registered in the Cayman Islands) into Phat Dat's Serenity Phuoc Hai in the southern province of Ba Ria-Vung Tau was among the event's top 50 notable M&A deals in the 2021-22 period.

Serenity Phuoc Hai is a complex of a villa resort and high-class hotel, together with apartments, shopping and service facilities.

In addition to Serenity Phuoc Hai, Phat Dat has other projects in the pipeline for 2023, including large-scale projects in Binh Duong and Binh Dinh provinces. The company is implementing a strategy to restructure its investment portfolio, with a focus on developing potential projects with completed legal procedures.

Amid current woes in the Vietnamese property market, Phat Dat plans to raise funds from foreign sources.

Phat Dat CEO Bui Quang Anh Vu said: “We prioritize partners sharing the same strategic vision who are interested in both equity investment and project development. Our negotiations, if any, must go fast for high efficiency. If they last from six months to one year, we will miss opportunities as the market is changing rapidly.”

According to experts, M&A deals in Vietnam's property sector would continue to be vibrant next year as investors are in a position to step into the market.