Real estate firm Phat Dat embraces 'compassionate' corporate culture

Phat Dat Real Estate Development Corporation has organized training for its board members and senior managers to build a corporate culture and enhance connectivity among employees.

The quarterly course, themed "Understanding and Compassion - Looking back on the past, moving forward together", took place from June 2-4 in Phan Thiet and Da Lat towns.

Participants looked back on past achievements and the difficulties they had faced to be prepared to face challenges, moving forwards with more compassion, will and energy.

In the context of economic and market turbulences, Phat Dat has realized the importance of building and developing a corporate culture. An enterprise with a strong culture will flexibly adapt to challenges and turbulences from outside, and prepare internal resources to grasp fresh opportunities.

Phat Dat said it is aware that developing the organization and building a corporate culture require its leadership to lead changes and improvements.

"Before focusing on workers' skills, leaders must first develop themselves with an open mind, which will help give them a deeper understanding of the needs and perspectives of employees. At Phat Dat, "understanding and compassion" is emphasized and fostered daily," the company said in a release.

Phat Dat CEO Bui Quang Anh Vu said senior managers serve as an extension of the board of directors to relay important and transparent messages about the "culture of kindness, understanding and compassion" to each employee. Managers have pioneered and promoted the cultural values the company has worked hard to develop.

"Phat Dat boasts 19 years of development with a unique corporate culture and identity. Each employee is a member of a large family who work professionally, while internal training and corporate culture practices are paramount. This is also one of the reasons why Phat Dat has attracted many highly qualified personnel."

Phat Dat was named among Vietnam's 100 Best Places to Work in Vietnam's real estate industry in 2022 by human resource consultancy Anphabe.

Amid the property market woes, the corporation still ensured the necessary liquidity in late 2022 and early 2023. It spent nearly VND900 billion ($38.33 million) buying back its bonds before maturity and paying off due debts. The firm also restructured its investment portfolio, and identified priority projects.

In 2022, Phat Dat posted an after-tax profit of VND1.16 trillion ($49.45 million), failing to fulfill its target. "However, this was the best result the firm could achieve amid the gloomy economic picture," Vu noted.

Phat Dat, listed on the Ho Chi Minh Stock Exchange as PDR, closed the Thursday session at VND16,200 ($0.69).