Phat Dat Real Estate Development : Pdr’s 2022 Business plan with proposed share dividend at 36.3%

Phat Dat Real Estate Development Corporation (HoSe: PDR) will host its 2022 Annual General Meeting of Shareholders (AGM) on 26th March 2022. The meeting agenda will include the ratification of proposals for its 2022 business strategies as well as a 36.3 percent share dividend plan.

The proposed 2021 dividend payment plan

According to the company, the Board of Directors (BOD) will propose a plan to pay a 36.3 percent share dividend for 2021 at the 2022 AGM, marking the 7th year in a row that Phat Dat has paid dividends since 2015.

With share dividends, shareholders will benefit significantly from the good market price of the ticker PDR – a constituent of the VN30 index of stocks with high sustainability and liquidity. In addition, shareholders also enjoy less income tax than cash dividends. PDR’s basic earnings per share (EPS) in 2021 were VND3,656/share, up 49.6% YoY, providing significant added value to shareholders and investors. By consistently achieving the plans and targets set out in its development strategy, PDR has solidified trust among shareholders over the years.

Proposed business targetsfor 2022

Regarding business objectives, PDR expects profit before tax (PBT) to reach VND 3,635 billion in 2022, up 55.1% YoY, contributing to the accumulated 2019 – 2023 PBT target reaching VND 14,270 billion. The 2022 PBT target is proposed based on 4 key projects, including Nhon Hoi Ecotourism City – Binh Dinh Province, the high-rise section in Zone 9, Astral City, and Serenity Phuoc Hai.

Astral City is undergoing intensive construction to meet the timeframe committed to customers and will be partially handed over in 4Q2022. To ensure the set business plan, the Company has developed a three-shift construction schedule, all construction activities have been implemented aggressively right after the social-distancing period.

Accelerated construction stage up to 3 shifts/day for Astral City.

Furthermore, the Company has finished geological research at Serenity Phuoc Hai’s project site, with construction set to begin in March 2022 and sales to begin in May 2022. Serenity Phuoc Hai is situated on a magnificent and pristine seaside road with a unique strait. As a result, the project is seen as an excellent new factor in attracting connoisseurs of investors in the Ba Ria-Vung Tau real estate market, as well as a national focal point.

Phat Dat stays consistent with its long-term goals

The setting and implementation of annual business plans are always parallel with the consistent long-term development and business strategy of PDR.

Phat Dat exploits its strengths in the residential real estate segment by concentrating its resources on promising real estate projects and townships in emerging urban areas. They will be developed in the same fashion as PDR’s projects in Binh Dinh to generate more revenue streams.

In addition, after two years of a prolonged pandemic, demand for vacation and hospitality real estate grew, with health considerations taking precedence. However, there is not enough being done for the wellness and hospitality real estate segment in tourist provinces such as Phu Quoc, Binh Dinh, Da Nang, and Ba Ria – Vung Tau to capture the abundant tourism potentials. Thus, this segment is one of the investment spearheads of PDR’s upcoming business plan.

PDR’s typical residential and hospitality property developments to be implemented in 2022 include Bac Ha Thanh (Binh Dinh), Bo Bac Residential Area (Quang Ngai), the project at No. 223 Tran Phu (Da Nang), Serenity Phuoc Hai, Poulo Condor, Tropicana (BR-VT), and Binh Duong Tower (Binh Duong).

Serenity Phuoc Hai with its expected open-for-sales in May 2022

In the industrial park real estate segment, Phat Dat recognizes significant promise at a time when the national economy is undergoing numerous drastic changes along with the wave of factory relocation to Vietnam. Thus, Phat Dat continues to use resources from home and abroad to expand industrial land banks, and the accompanying urban services are also a focus for investment. Specifically, Dung Quat IP (Quang Ngai), industrial parks in Da Nang and Binh Duong, Cao Lanh IPs (Dong Thap), and Ham Ninh IP (Kien Giang) are among the projects to be implemented in 2022

2021 in a nutshell

Phat Dat closed 2021 with exceptional results in terms of business performance and market reputation. It was the first year in which Phat Dat’s pre-tax profit exceeded VND 2 trillion (reaching VND 2.344 trillion), and the ticker PDR was officially added to the VN30 Index by HOSE. In turn, PDR conquered the market capitalization milestones of USD1 billion and USD2 billion and peaked at USD 2.117 billion on 22nd October 2021. In the capital market, PDR also showcased its sound financial health with a credit rating at ‘B’ by Fitch Ratings for a stable outlook. Entering 2022, Phat Dat expects further advances in all aspects, progressively completing its long-term strategic goals for 2021-2025.

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