IR Newsletter - April 2026: The 2026 AGM – Driven by core strengths
On April 21, 2026, Phat Dat Real Estate Development Corporation (PDR: HOSE) released its April 2026 IR Newsletter, providing updates on business operations, awards received, and project implementation progress during the month, while also summarizing key matters approved at the 2026 Annual General Meeting of Shareholders (AGM).
Maintaining its position among the Top 10 Reputable Real Estate Developers for six consecutive years
Phat Dat continues to affirm its leading position, being recognized for the sixth consecutive time as one of the Top 10 Reputable Real Estate Developers (2021–2026), according to Vietnam Report. This result demonstrates PDR’s agile management capabilities and strong adaptability by implementing decisive restructuring strategies, focusing resources on key projects in Ho Chi Minh City and Dong Nai Province.
Lusso SaiGon: A luxury lifestyle under the WorldHotels brand (BWH Hotels)
Phat Dat has officially entered into a partnership with WorldHotels – the premium brand under BWH Hotels – to manage the Lusso Saigon tower in HCMC. Partnering with a global network of over 4,300 hotels not only guarantees international 5-star service standards but also enhances long-term asset value for investors.
Mr. Bui Quang Anh Vu – BOD Member cum Chief Executive Officer of Phat Dat (third from the left) – participated in the signing ceremony with senior executives of BWH Hotels.
Releasing the Annual Report: “Driven by core strengths”
Phat Dat has officially released its 2025 Annual Report, with the core message of leveraging internal strengths to navigate market challenges. The report provides a comprehensive overview of the Company’s transformation journey, from optimizing its financial structure to focusing resources on the development of key and highly liquid projects. With a solid governance foundation and a well-defined strategy, PDR reaffirms its readiness for a new, more sustainable growth cycle, continuing to deliver added value for shareholders and stakeholders.
Chairman Nguyen Van Dat completes purchase of 3 million PDR shares
Board Chairman Nguyen Van Dat has completed the purchase of an additional 3 million PDR shares, further increasing his ownership stake and reinforcing his position as the Company’s largest shareholder. This transaction sends a positive signal of the leadership’s confidence in the Company’s sustainable development strategy and intrinsic value at a critical stage.
KEY HIGHLIGHTS OF PDR’S 2026 ANNUAL GENERAL MEETING OF SHAREHOLDERS
The 2026 business plan
At the 2026 AGM, PDR’s leadership said that the year 2026 was identified as a pivotal year in the 5-year strategy from 2026–2030, marking a transition from a preparatory phase to accelerated execution to deliver higher-quality growth. With the strategic objective of restoring growth momentum and maintaining strict risk control amid market volatility, the Leadership expects 2026 profit to double compared to 2025.
Key targets include:
- Revenue: VND8,830 billion
- Pre-tax profit: VND1,788 billion
- Profit after provisions and tax: VND868 billion
Progress update on key projects
- Thuan An 1 & 2 (HCMC): Thuan An 1 has secured proceeds of over VND1,901 billion from the transfer of shares. Meanwhile, Thuan An 2 is expected to continue its divestment roadmap in 2026.
- Project at 239 Cach Mang Thang Tam (HCMC): The total investment is approximately VND 5,500 billion. Legal documentation is expected to be completed and construction to commence in 2026; sales launch is scheduled for Q4/2026 – Q1/2027.
- Quy Nhon Iconic: Focus on completing sales and recognizing cash flow within 2026.
- Serenity Phuoc Hai: Currently applying for the construction permit to get ready for construction.
- Poulo Condor (Con Dao) & Han River (Da Nang): Continuing to accelerate legal procedures in line with the plan.
- La Pura: An efficiently performing project, with PDR acting as the developer involved in management, thereby recognizing approximately VND 400 billion in revenue while also recovering receivables for the Company.
- Industrial park segment: The Company, together with Phat Dat Industrial Park Company, is carrying out legal procedures to develop projects in Quang Ngai, Tay Ninh, and Dong Thap, With a total estimated land area of over 2,000 hectares.
BT projects and new investment proposals in HCMC
Over the next 5 years, PDR will adopt an operating model built on two core pillars: Commercial Real Estate and BT Projects.
By continuing to partner with the City on infrastructure projects, PDR has demonstrated strong execution capabilities, positioning the Company to access prime land plots in Ho Chi Minh City.
For the existing project portfolio, the BT project Phan Dinh Phung Indoor Stadium may not proceed if actual conditions are no longer suitable; for now, the Company has implemented the park component to serve the community.
In addition, PDR is proposing to participate in two BT projects with a total estimated investment of VND 24,000 billion. The first is an Oncology Hospital project (1,000 beds) with a total investment of approximately VND 9,000 billion, which has already received in-principle approval from the City. The second is an elevated road project with a total estimated investment of over VND 15,000 billion, which is now at the proposal stage.
Issuing over 20 million shares and paying a 10% dividend in shares
The 2026 AGM approved the proposals aimed at strengthening financial capacity for the next growth cycle, including:
• Offering of shares to existing shareholders: To be conducted at a ratio of 5:1, with expected proceeds of over VND 1,995 billion.
• Dividend payment: Issuing shares as dividend payment at a ratio of 10%, equivalent to a maximum issuance value of approximately VND 1,197 billion.
Read the full Newsletter here.
