Company Insight

Dat Xanh Group Corporation (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. DXG's real estate brokerage segment showed strong recovery in Q2/2025 and H1/2025 with revenue growing 93.4% YoY and 56.6% YoY, respectively, thanks to loose monetary policy and market-wide transactions. The brokerage segment will be the main source of revenue for DXG in the medium term of 2025-2026. DXG benefits greatly from the policy of merging Binh Duong into HCMC, where DXG owns a land fund of more than 100ha after the process of accelerating development in previous years. Two key projects in the coming period have both had positive changes, DXG's The Privé project received an impressive number of bookings, more than 4,200 bookings although the project only provided 3,175 products, GSW project benefited greatly from the progress of Long Thanh International Airport. Thanks to that, DXG's recovery and growth prospects became positive in the coming period. Based on the RNAV method, we recommend BUY DXG with a TP of VND 24,200, a potential increase of 20.1%.