Phat Dat Real Estate Development : and Realty Holdings enter into a comprehensive...

On May 12, 2024, Phat Dat Real Estate Development Corporation (Stock code: PDR) and Realty Holdings Real Estate Business and Services Corporation jointly hosted a ceremony to formalize this comprehensive strategic cooperation agreement, committing to the purchase and sale of all units within Thuan An 1 & 2 High-rise Residential Complex (Binh Duong) and Bac Ha Thanh Urban Area (Binh Dinh).

Mr. Nguyen Van Dat, Board Chairman of Phat Dat, presenting flowers to both parties.

As per the terms of the comprehensive strategic cooperation, Phat Dat Real Estate Development Corporation (Phat Dat) has undertaken to wholesale all units in Thuan An 1 & 2 High-rise Residential Complex (Binh Duong) and Bac Ha Thanh Urban Area (Binh Dinh).

Leaders from Phat Dat Corporation and Realty Holdings at the ceremony

Moreover, Phat Dat has been granted authority to manage cash flow during Realty Holdings' sales operations once all legal requirements are met.

Mr. Bui Quang Anh Vu, CEO of Phat Dat, and Mr. Nguyen Thanh Tam, CEO of Realty Holdings, at the signing ceremony

Thuan An 1 & 2 High-rise Residential Complex (Binh Duong) enjoys a prime location on Nguyen Thi Minh Khai Street in Thuan An City, Binh Duong Province. Spanning a total area of 4.46 hectares, which includes Thuan An 1 (1.81 hectares) and Thuan An 2 (2.65 hectares), the complex offers 5,970 units.

In December 2023, the project received construction permits from the Binh Duong Province Department of Construction. Construction commenced in January 2024, beginning with foundations, piles, and fences. In April 2024, the Department of Construction of Binh Duong Province issued a permit for phase 2, allowing for the construction of basements and the main structures of Thuan An 1. The project is currently progressing rapidly.

CGI of Thuan An 1 & 2 High-rise Residential Complex (Binh Duong)

Bac Ha Thanh Urban Area is strategically positioned with a frontage facing National Highway 19, right in the heart of the new urban center of Tuy Phuoc District, Binh Dinh Province. Covering a total area of 43.16 hectares, the project offers 1,422 units. In October 2023, the project was allocated land by the Binh Dinh Province People's Committee, with construction permits granted by the Binh Dinh Department of Construction. Construction is currently underway.

CGI of Bac Ha Thanh Residential Area

Thuan An 1 & 2 High-rise Residential Complex (Binh Duong) and Bac Ha Thanh Urban Area (Binh Dinh) are among the 4 to 6 projects valued between 30,000 to 40,000 billion VND slated for implementation in 2024 by PDR.

Furthermore, in 2024, under the motto of "Ready for new opportunities," Phat Dat will focus on key objectives: achieving an after-tax profit target of 880 billion; proceeding with legal procedures for its projects; concentrating on sales to maintain stable cash flow; and actively seeking prime lands for new developments.