Company Insight

Phat Dat Real Estate Development JSC (HOSE: PDR) is a large real estate development company in Vietnam, with most of its projects concentrated in the southern provinces. PDR focuses on developing mid-range, high-end, and resort real estate products with a total land bank of over 6,200 hectares. Based on the RNAV method, we recommend BUY PDR with a target price of VND 20,000/share, based on the following arguments: (1) successful comprehensive restructuring strategy; (2) abundant land bank providing great growth potential; and (3) legal obstacles to real estate project implementation promoting growth.