Phat Dat Real Estate Development Joint Stock Company (PDR) wants to buy a plot of land located at Cao Thang Street, District 3, Ho Chi Minh City for 650 billion VND from Ms. Tran Thi H..
Phat Dat Real Estate's inventory as of the end of September 2024 is nearly 13,000 billion VND - Photo: AI NHAN
Specifically, Phat Dat Real Estate Development Joint Stock Company (PDR) has sent a notice to the Ho Chi Minh City Stock Exchange (HoSE) about the resolution of the board of directors on approving the policy of purchasing real estate assets in Ho Chi Minh City.
The resolution clearly states that this real estate is located at Cao Thang Street, Ward 3, District 3, Ho Chi Minh City, with a certificate of land use rights, house ownership rights and assets in the name of Ms. Tran Thi H.
PDR has not disclosed the area of the land plot but the estimated price has been given. Accordingly, the PDR board of directors has assigned Mr. Nguyen Van Dat - chairman of the board of directors - full authority to negotiate and decide the purchase price of the above property but it must not exceed 650 billion VND.
On some real estate trading sites, the above land lot address is advertised by brokers for rent at nearly 500 million VND per month, with a beautiful central location and comfortable parking.
The pre-announced Q3-2024 financial report stated that Phat Dat's total assets were recorded at VND 22,663 billion at the end of September 2024. Of which, inventories accounted for the largest proportion with nearly VND 12,854 billion.
Regarding the business situation, Phat Dat's net revenue from sales and service provision in the third quarter of 2024 still recorded modest results, reaching only 2.6 billion VND. Phat Dat's business results this quarter are still "burdened" by financial revenue.
Financial revenue continued to increase strongly thanks to Phat Dat's continued transfer of shares in associated companies, similar to the business results of the previous quarter.
According to the explanatory report, Phat Dat's leaders said that the general economic situation is still difficult, including the real estate industry, so the investment and development of this enterprise has not been favorable in the third quarter, leading to a decrease in profits in the quarter.
However, thanks to the asset sale strategy, business results are still modest, but this real estate company still closed the third quarter of 2024 with after-tax profit of more than 51 billion VND.
In the first 9 months of 2024, Phat Dat recorded net revenue of 173 billion VND and after-tax profit of nearly 154 billion VND, both of which plummeted compared to the same period.
Source: https://tuoitre.vn/bat-dong-san-phat-dat-nham-mua-lo-dat-650-ti-dong-o-quan-3-tu-mot-phu-nu-2024122215214421.htm
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