Property developer Phat Dat restructures to drive sustainable growth
Phat Dat Real Estate Development JSC is restructuring its investment portfolio to support the company's sustainable growth target.
The Ho Chi Minh City-based developer’s restructuring is going hand in hand with its positive leverage ratio, balanced profitability, and stable annual cash flow.
Astral City project transfer to boost cash flow
Phat Dat recently decided to transfer Astral City, one of its real estate projects in Binh Duong province. The commercial and apartment complex is located on National Highway 13, a vital road in Binh Duong, which borders HCMC.

An artist’s impression of the Astral City project in Binh Duong province, southern Vietnam. Photo courtesy of Phat Dat JSC.
The deal is expected to bring in VND3,340 billion ($143.64 million) in cash to put the developer close to its 2022 pre-tax profit target of VND3,635 billion ($156.3 million), and improve the cash flow for its growth plan.
Its earnings before interest, taxes, depreciation and amortization (EBITDA) has in recent years been maintained at below 1.7, showing Phat Dat's ability to generate profits. In addition, the "Loan balance/VCHS" index has been kept at a healthy level below 0.6 since 2019.
Expanding land reserves, restructuring business
Currently, the developer holds total land reserves of over 7,404 hectares, including industrial real estate. The business restructuring aims to further improve the company’s resources and competence.
Phat Dat's restructuring would ensure enough land for its development strategy in the next five to 10 years, generating fast cash flow, assuring its profit target. Proceeds from the Astral City project transfer will also help Phat Dat invest in and develop potential projects in HCMC, Binh Duong, Ba Ria-Vung Tau, and Danang.
In HCMC, Phat Dat is in the process of buying stakes in Hoa Binh Real Estate JSC, which owns several land sites downtown.
Vast products in pipeline for 2022, 2023
In 2022 alone, Phat Dat plans to introduce to the market more than 12,000 housing products with an estimated combined value of VND32,000 billion (almost $1.38 billion) with about VND12,000 billion from Ba Ria-Vung Tau, VND17,000 billion from Binh Duong, and roughly VND3,000 billion from Binh Dinh province in the south-central region. The company’s pre-tax profit target this year is VND3,635 billion ($156 million).
For 2023, Phat Dat expects a higher total of introduced housing products than this year, eyeing a pre-tax profit of VND5,700 billion (more than $245 million).
In its plans for the 2019–2023 period, the corporation expects its total accumulated pre-tax profit to reach VND14,270 billion ($613.7 million). The results in 2019, 2020, and 2021 were VND1,105 billion, VND1,539 billion, and VND2,344 billion, respectively.
The developer’s current healthy financial indicators show its business restructuring strategy will be able to maintain its sustainable growth.
- Read More
Vietnam's 5-month registered FDI hits $18.4 bln, up 51%
Registered foreign direct investment (FDI) in Vietnam hit $18.4 billion in the first five months of the year, up 51.1%, while disbursed capital reached $8.9 billion, up 7.9%.
Economy - Thu, June 5, 2025 | 6:52 pm GMT+7
Indonesia launches economic stimulus package to boost purchasing power
The Indonesian Government has rolled out an economic stimulus package worth IDR24.44 trillion (nearly $1.53 billion) to maintain consumer purchasing power and stabilize the national economy.
Southeast Asia - Thu, June 5, 2025 | 4:06 pm GMT+7
Vinhomes subsidiary to develop two industrial parks worth $383 mln in northern Vietnam
Vinhomes Hai Phong Industrial Park Investment JSC under Vinhomes, the housing arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), is expected to be the investor of two industrial parks worth VND10 trillion ($383 million) in the northern port city of Hai Phong.
Real Estate - Thu, June 5, 2025 | 3:54 pm GMT+7
Agriculture drives Indonesia’s economic growth
Agriculture is emerging as a key driver of Indonesia’s economic growth, especially in the first quarter of 2025, according to the latest report by the Indonesian Institute for Development of Economics and Finance (INDEF).
Southeast Asia - Thu, June 5, 2025 | 3:46 pm GMT+7
Vietnam's logistics heavyweight Gemadept plans over $38 mln buyback if shares plunge
Gemadept, Vietnam's leading port and logistics company, listed on the Ho Chi Minh Stock Exchange as GMD, plans to buy back 21 million shares, equivalent to 5% of its outstanding shares.
Companies - Thu, June 5, 2025 | 3:32 pm GMT+7
Vietnam, US to hold third round of reciprocal trade pact talks in first half of June
The third technical round of negotiations for a reciprocal trade agreement between Vietnam and the U.S. is expected to take place in the first half of June, as agreed by their trade ministers on Wednesday.
Economy - Thu, June 5, 2025 | 3:22 pm GMT+7
Housing developer Vinhomes, consortium partners win bid for $10 bln urban area project in central Vietnam
Vinhomes, the housing development arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), and its consortium partners have won the bid to develop a VND260.3 trillion ($9.97 billion) urban area project in the south-central province of Khanh Hoa.
Real Estate - Thu, June 5, 2025 | 12:15 pm GMT+7
Agriculture ministry proposes police probe into allegations C.P. Vietnam sold 'diseased pork'
The Ministry of Agriculture and Environment on Wednesday asked the Ministry of Public Security to investigate social media allegations that C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), sold “diseased pork.”
Companies - Thu, June 5, 2025 | 8:32 am GMT+7
Vietnam a strategic manufacturing hub in Asia amid global supply chain reshuffle: exec
Vietnam has emerged as a strategic manufacturing hub in Asia amid the substantial restructuring of global supply chains, said Dhamcharee Varaporn, managing director of RX Tradex Thailand & Vietnam, a leading exhibition organizer.
Companies - Thu, June 5, 2025 | 8:00 am GMT+7
Vietnam's major developer Tan Hoang Minh wants to make Da Lat 'Asia’s most livable town'
Do Anh Dung, chairman of Tan Hoang Minh, on Tuesday proposed that authorities of Lam Dong province support the property developer in planning a 4,320-hectare smart urban area project in the resort town of Da Lat.
Real Estate - Wed, June 4, 2025 | 10:36 pm GMT+7
Vietnam’s economic landscape 'positive' amid global headwinds: Prime Minister
Vietnam’s socio-economic situation has been trending positively, with stable macroeconomic conditions, inflation under control, and major economic balances well maintained, says Prime Minister Pham Minh Chinh.
Economy - Wed, June 4, 2025 | 5:23 pm GMT+7
Unleashing the quantum power in banking
While quantum computing remains in its early stages, its potential to reshape the financial landscape is undeniable. Institutions that act now, by investing in research, forming strategic partnerships, and deploying pilot use cases, will be at the forefront of this transformation, writes Phillip Wright, COO at HSBC Vietnam.
Consulting - Wed, June 4, 2025 | 3:59 pm GMT+7
How Jardine Matheson expands footprint in Vietnam
From a quiet financial investment in 2008, Jardine Matheson, a diversified, Asia-focused investment company based in Bermuda, has steadily expanded its influence in Vietnam, one of Southeast Asia’s fastest-growing economies.
Companies - Wed, June 4, 2025 | 2:57 pm GMT+7
Vietnam, Japan see 'strong collaboration prospects in developing green, eco-friendly products'
Vietnam and Japan have vast potential for cooperation in the development of green and environmentally friendly products, said general secretary of the ASEAN-Japan Center (AJC) Kunihiko Hirabayashi.
Economy - Wed, June 4, 2025 | 12:16 pm GMT+7
Quynh Lap LNG-fired power project in central Vietnam seeks in-principle approval
The $2.15 billion Quynh Lap LNG-fired power project, located in Nghe An province, is drawing significant interest from both international and domestic investors.
Energy - Wed, June 4, 2025 | 9:28 am GMT+7
Indonesia's coal exports dip on weak demand
Indonesia's coal exports dropped 6.43% to 160 million tons during January-April, according to the Energy and Mineral Resources Ministry.
Southeast Asia - Wed, June 4, 2025 | 8:48 am GMT+7