Company Insight

Dat Xanh Real Estate Services JSC (HOSE: DXS) is a real estate brokerage company with the largest brokerage market share in Vietnam (33% in 2024). DXS is a subsidiary operating in the real estate brokerage sector of Dat Xanh Group JSC (DXG). Based on the DCF cash flow discount method, we recommend BUY DXS with a target price of VND 12,500, with the following investment thesis: (1) DXS is a leading real estate brokerage company in Vietnam; (2) Real estate transaction volume is improving with macro policy support; and (3) Projects launched by parent company DXG boost DXS's profits.