Phat Dat Real Estate Development : IR Newsletter IIIQ2023

CONTENT

Highlights

Page 03

Market overview

Page 07

Business performance

Page 13

PDR shares

Page 15

Project information

Page 17

PHAT DATREALESTATEDEVELOPMENTCORPORATION

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HIGHLIGHTS IN 3Q2023

PHAT DAT REAL ESTATE DEVELOPMENT CORPORATION

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HIGHLIGHTS IN 3Q2023

THUAN AN HIGH-RISE RESIDENTIAL COMPLEX RECEIVES IN-

PRINCIPLE INVESTMENT APPROVAL

Binh Duong Provincial People's Committee granted its in-principle approval for the construction of

Thuan An 1 and 2 High-Rise Residential and Commercial Complexes with Decisions No. 2047/QD-

UBND and 2048/QD-UBND on August 11, 2023.

Thuan An 1 encompasses approximately 18,146.7 m2 and is designed to accommodate an estimated 3,811 residents. It reaches a maximum height of 39 floors, including 3-4 basement levels, with a capacity of approximately 3,133 apartments.

Thuan An 2 spans an area of 26,530.7 m2, housing an estimated population of around 3,985 people. It also boasts a maximum height of 39 floors, along with 3-4 basement levels, offering approximately 3,500 apartments and 17 townhouses, each with a maximum of 5 floors.

This project is poised to play a vital role in the development of Binh Duong Province in the near future, addressing the growing housing demand in the area with a diverse range of offerings.

THUAN AN I HIGH-RISE RESIDENTIAL COMPLEX RECEIVES

APPROVAL FOR THE 1/500 MASTER PLAN

On September 14, 2023, the People's Committee of Thuan An City issued Decision No. 4544/QD-UBND, approving the 1/500 master plan of Thuan An 1 high-risemixed-use residential complex in Thuan Giao Ward, Thuan An City, Binh Duong Province.

The decision defines the nature and objectives of the project as a high-risemixed-use residential and commercial complex, designed to provide a suitable living environment with a complete infrastructure system and convenient connections to the surrounding area. It aims to contribute to developing a more upscale Thuan An City with upcoming modern amenities and greater land use efficiency.

The project is expected to accommodate about 3,811 residents with 2,753 apartments, reaching a maximum height of 39 floors with 3 to 4 basement levels, with Thien Long Building Real Estate Investment and Development JSC as the Developer as in Decision No. 2049/QD-UBND dated August 11, 2023, of Binh Duong Provincial People's Committee.

PHAT DAT REAL ESTATE DEVELOPMENT CORPORATION

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HIGHLIGHTS IN 3Q2023

ASTRAL CITY IS ELIGIBLE TO SELL OFF-PLAN PROPERTIES

On July 24, 2023, the Construction Department of Binh Duong Province issued documents No. 2657/SXD- QLN and No. 2658/SXD-QLN, approving the capital mobilization by selling off-plan apartments of Binh Duong I & II Commercial & High-end Apartment Complex.

Astral City is a project developed by Saigon-KL Real Estate JSC, a subsidiary of Phat Dat Real Estate

Development Corporation. On June 22, 2022, the Board of Phat Dat Corporation approved the transfer of

all 99.86% of charter capital at Saigon-KL. Phat Dat completed this transfer in IIQ2023.

PHAT DAT SPONSORS A COMPUTER LAB FOR QUANG NGAI BOARDING HIGH SCHOOL FOR ETHNIC MINORITIES

As the 2023-2024 academic year kicked off, Phat Dat Real Estate Development Corporation (HOSE: PDR) sponsored a computer lab at Quang Ngai's Ethnic Boarding High School to enhance the quality of teaching and learning.

In particular, Phat Dat donated 18 high-quality computers suitable for the high school curriculum, thus giving students opportunities to access and engage with computer technology, with a total sponsorship value of approximately VND 350 million.

PHAT DAT REAL ESTATE DEVELOPMENT CORPORATION

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FEATURED

PHAT DAT HELD TOPPING-OUT CEREMONY FOR THE NEW OFFICE BUILDING

On September 15, 2023,

Phat Dat Real Estate

Development Corporation

(HOSE: PDR) celebrated

the topping-out ceremony

for its headquarters

situated at 39 Pham Ngoc

Thach Street, District 3, in

HCMC.

Strategically located in the heart of District 3 in HCMC, this building comprises four underground floors and twelve above-ground levels. Anticipated to commence operations in December 2023, the project is under the management of Central as its main constructor.

Phat Dat's Office Building spans 673.5 m2 and showcases a contemporary architectural design, fostering an open and interconnected workspace that promotes an ideal working environment for the staff.

This project is regarded as a model and a source of inspiration for Phat Dat's future green initiatives, with a commitment to creating a healthier living and working environment, increasing labor productivity, and adhering to global standards.

Serving as the company's headquarters, this new building is a key element of Phat Dat Group's sustainable development strategy and ongoing business expansion. It underscores financial stability and preparedness for future plans from the collective of the Leadership and staff.

PHAT DAT REAL ESTATE DEVELOPMENT CORPORATION

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MARKET OVERVIEW IN 3Q2023

PHAT DAT REAL ESTATE DEVELOPMENT CORPORATION

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MARKET OVERVIEW IN 3Q2023

APARTMENT MARKET IN

HO CHI MINH CITY AND

NEARBY PROVINCES

The new supply in 3Q2023 was 2.5 times higher than the previous quarter but only 83% compared to the same period last year. Notably, HCMC alone accounted for nearly 90% of the new supply available in the entire market.

In HCMC, Grade A segment accounted for 2/3 of the new supply in the quarter, with most projects in eastern areas. Although Grade C segment made a comeback after a long absence, it only accounted for about 4% of the total new supply.

The market is showing signs of recovery compared to 2Q2023. Absorption rate reaching 72% in the quarter, and take-ups increased 2.8 times compared to the previous quarter, or 13% compared to the same period last year.

Projects launched in the quarters had an average booking time ranging from 3 to 5 months. Most developers continued incentives such as early payment discounts, extended payment terms, and gifts to stimulate market demand.

Primary prices have not seen much fluctuation, and the secondary market liquidity has improved, with prices recording a slight increase of 1% to 3% compared to the previous quarter due to the recent reduction in interest rates by commercial banks.

PHAT DAT REAL ESTATE DEVELOPMENT CORPORATION	Source: DKRA

New supply and take-up by quarter

Unit: apartment

New supply by locality

Unit: %

Primary selling price

Unit: million VND/m2 (VAT)

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MARKET OVERVIEW IN 3Q2023

New supply and Take-up by quarter

Unit: Villa

HOSPITALITY REAL ESTATE MARKET IN HCMC & NEARBY PROVINCES - RESORT VILLAS

New supply by region

Unit: %

Although the housing supply increased QoQ, it remained low and only up by 7% compared to the same period last year. Developers were quite cautious about launching their projects, resulting in a continued downtrend in supply since late 2Q2023.

Demand was low, with consumption equivalent to 2% compared to the same period

last year. New projects experienced relatively low sales, with most transactions

focused on products priced below VND10 billion per unit.

Primary selling price by region

Unit: billion VND/unit (VAT)

Primary prices underwent no significant changes compared to the previous quarter.

Developers continue to apply various incentives and discounts to boost liquidity.

The overall market challenges, coupled with the tourism industry's slower-than-

expected recovery, have affected customer sentiment in recent times, leading to

continued low market liquidity.

PHAT DAT REAL ESTATE DEVELOPMENT CORPORATION

Source: DKRA

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MARKET OVERVIEW IN 3Q2023	HOSPITALITY

REAL ESTATE MARKET

IN HCMC & NEARBY PROVINCES

- CONDOTEL

Condotel supply increased significantly compared to the previous quarter, but

mainly from few certain projects. Yet, it remained at a low level, only 44%,

compared to the same period in 2022.

Market demand slightly increased compared to the previous quarter, and consumption remained low, at 22% compared to the same period. Most transactions in the quarter focused on projects with legal completion, bank guarantees, and operations by international 4* - 5* units.

Binh Dinh led in both supply and take-up in the quarter, while renowned hospitality markets like Da Nang and Phu Quoc brought none to the table.

Selling prices increased by 6% - 8% compared to the previous quarter due to high capital costs. However, price increases were accompanied by various incentives such as interest rate support, principal deferment, and revenue/profit sharing to stimulate market demand.

The trend of shifting from profit-sharing to revenue-sharing continues to be widely adopted by many investors. Revenue-sharing enables customers to effectively manage their businesses and renders cash-flow transparency.

New supply and take-up by quarter

Unit: Condo unit

New supply by region

Unit: %

Primary selling price by region

Unit: million VND/m2 (VAT)

PHAT DAT REAL ESTATE DEVELOPMENT CORPORATION

Source: DKRA

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