Company Insight

Dat Xanh Group JSC (HOSE: DXG) is a large listed real estate group in the mid-range and high-end segments. DXG also owns the primary real estate brokerage segment, which held the largest primary market share nationwide (33%) in 2024. Based on the RNAV method, we recommend buying DXG with a target price of VND 19,500, with the following arguments: (1) Successful sales of The Privé high-end apartment project will bring strong growth in signed sales for the 2025-2027 period; and (2) Expectations of a thriving brokerage segment thanks to stable low interest rates stimulating real estate market demand; (3) A large land bank in the mid-range segment in Binh Duong will be a premise for DXG's long-term growth, with a land bank size of over 100 hectares. Based on the RNAV method, we recommend buying DXG with a target price of VND 19,500. The valuation is attractive, equivalent to a potential upside of 17.1%.