A dialogue with the Chairman of the Board
Commitment to continue the process of change, to take the lead in the real estate industry and accompany development with customers, partners, shareholders, employees and the community – these are the main ideas Chairman of the Board of Directors of Phat Dat Real Estate Development JSC – Mr. Nguyen Van Dat, shared in “Dialogue with the Chairman”.
In 2017, how did the overall economic situation and the real estate market affect Phat Dat’s development?
In 2017, Vietnam’s economic growth is stable and low inflation has helped businesses to develop, so do real estate businesses. Phat Dat has reduced its financial expenses, increased sales of its products and recovered its investment in projects.
In such a context, how has Phat Dat been active and developed? Could you mention some accomplishments?
Thanks to the favorable economy, Phat Dat has had a successful year with revenue of VND1,327 billion and net profit of VND440 billion. the highest interest rate since its inception.
On the other hand, Phat Dat has fully repaid its loans and interest on the banks and bondholders. We also won many great prizes such as the best apartment project of Vietnam Property Awards 2017, Top 10 developers of real estate projects in Vietnam … Thanks to these results, PDR shares listed on HOSE stock price has increased more than 200%.
However, if achievement is achieved, the biggest achievement in the past year is the staff. Human beings are also the core element of the success of Phat Dat in 2017.
It is known that 2017 is the year of strong innovation. What are the highlights of Phat Dat and why is it delivering such innovative innovations?
A successful business must certainly implement continuous innovation, if not will stomp on the spot.
We have been doing a lot of innovations in the company. Most prominent is the renovation of land fund development strategy, financial strategy, and personnel policy. These are important innovations to improve the competitiveness of the real estate market.
Could you tell us about the direction and development strategy of Phat Dat in 2018 and the next few years?
We always aspire to the lead. Phat Dat is one of the Top 10 developers of real estate projects and the EverRich brand is one of the top 10 luxury apartment brands in the real estate market in Vietnam. Phat Dat must also be in the top 100 enterprises with the best working environment in Vietnam.
Of course, I do business so will pay attention to profit. Phat Dat’s goal is to grow its annual profit by over 30% and stabilize for many years; Owner’s equity will reach at least VND 5,000 billion by 2020.
In order to successfully implement that strategy, what measures does Phat Dat have to implement, Sir?
Over the past year, Phat Dat has renewed the strategies for developing land, finance, and human resources that I think are very effective. This year, we will promote the brand Phat Dat and The EverRich to target customers. Participation in conferences, investment events, real estate in the country and internationally is also a way to attract more.
In other words, from 2018, besides continuing the renovation, Phat Dat’s external activities will be more invested.
With the orientation and strategy as above, Sir, what is the biggest challenge that Phat Dat is facing? How will Dang Dat overcome that challenge?
At present, Phat Dat is facing two major challenges: Sustainable development of the real estate market in general and the level of strong competition in high quality human resources.
We will look for ways to diversify sales, minimize financial risks, and improve our HR policies. In 2017 Phat Dat also implemented these solutions and positive results as seen.
As you said above, human resources are the key to Phat Dat’s success. How did Phat Dat do to promote the power of “Phat Dat”?
Our main principle is “companion development”. Specifically, Phat Dat has implemented many human resources policies such as salary increase, reward for business efficiency, welfare; Improve the working environment and create opportunities for employees to develop careers.
I always think that the company is committed to personnel policy, the new employees have the motivation, responsibility, from which to stick with and co-develop with the company for a long time.
What makes you feel proud to mention the Phat Dat brand?
That is: Prestige, innovation and aspirations.
Even in the most difficult times, we always keep our promise, commitment. Mistakes can be made but get up and step out of the wrong, change to do better. Our motto is “Learn and dare to change.”
Since its establishment in the real estate market, Phat Dat has determined “To become a leading Vietnamese developer through ownership of leading brands.” There are times when really difficult as the period from 2009 to 2013 has slowed down Phat Dat, but that desire has not changed.
How do you assess the position and role of Phat Dat in the real estate market in Vietnam today?
Phat Dat has entered the real estate market for 13 years; Advantages, ups and downs not less. Looking at the current pace of development, it can be seen that Phat Dat has become a big investor, whose name is on the real estate market. We have created new high end lifestyle apartments, such as The EverRich Infinity Project, Millenium Project.
What do you want to send to shareholders, customers, partners, employees and other stakeholders in the new financial year?
2018 is the pivotal year of the 2016-2020 strategic period, and we will continue to change to rise and lead.
We hope that the shareholders, employees, partners, customers always trust the company, here is the Board of Director and the Management Board. Hope the stakeholders will accompany and support Phat Dat more.
Thank you for joining the conversation.