M&A deal completed, Phat Dat takes over Binh Duong Tower



M&A deal completed, Phat Dat takes over Binh Duong Tower

On 4th June 2021, Phat Dat Real Estate Development Corporation (Stock code: PDR) announced the completed acquisition of 99.5% contributed shares from shareholders of Binh Duong Building Real Estate Development JSC. Thus, PDR officially owns the Binh Duong Tower project and, at its disposal, continues the investment, development, and business of this project.

Binh Duong Tower resides on a 45,510sqm site in central Nguyen Thi Minh Khai Street (Thuan Giao Ward, Thuan An City), connecting Binh Duong Boulevard and National Route 13. From there, residents could easily access nearby biggest industrial zones in the province, such as VSIP, Dong An, and Viet Huong. Especially, the project enjoys sufficient facilities within a 5km radius, including international schools at all levels, international hospitals, central parks, etc. More importantly, the prime location at a gateway to Binh Duong’s administration center elevates the project’s value to a huge extent.

Binh Duong Tower’s location.

As a focal point surrounded by the 3 cities of Thu Dau Mot, Di An, and Thu Duc, Thuan An city is planned to be a tier-I smart city in the period 2021-2025, with the National Route 13 (the part crossing the city) and adjacent roads forming a biggest financial – commercial – service hub in Binh Duong province.

As in the urban planning of the city and the province, such a favorable location plus a vigorous shift in infrastructure enable Binh Duong Tower with a great combined effect. Hence, the project is expected to bring about excellent business results, quick cash flows, and greater Phat Dat’s brand value in the Binh Duong market. Ultimately, the project will create a push for Thuan An’s real estate market to thrive and bloom in 2021 and the following years.