In order to further the partnership and open up cooperation opportunities, in December 2021, Samty Corporation’s Vice Chairman visited Vietnam and underwent post-entry quarantine to have face-to-face meetings with Phat Dat Real Estate Development Corporation (Stock code: PDR). The two parties held in-depth working sessions that included detailed discussions on future strategic cooperation, allowing PDR to expand its international partnerships. The cooperation exemplifies the attraction of Vietnam’s real estate sector, which is brimming with competent firms capable of constructing world-class projects and attractiveness for foreign capital inflows.
Samty Corporation, one of Japan’s leading enterprises, has nearly 40 years of experience in real estate trading and leasing, urban planning and development, property management, and investment fund development, among other fields. Besides developing real estate in eight major Japanese cities, Samty has increased its international investing efforts in recent years. Samty’s yearly income is over USD 1 billion, while its total assets were around USD 3 billion by 3Q2021. Since 2019, Samty has expanded its presence in two Southeast Asian markets: Singapore (Samty Asia Investment) and Vietnam (Samty Vietnam). In Vietnam, Samty has cooperated to develop the SAKURA in Vinhome Smart City, Hanoi.
Bearing the characteristics of a typical Japanese firm, Samty Corporation has stringent standards for selecting business partners, including corporate repute, brand prestige, legal competency, significant financial potential, and timely project implementation as committed.
PDR had previously entered into a USD 22.5 million investment agreement with Samty Asia Investments Pte Ltd (a subsidiary of Samty Corporation) and a major Japanese real estate development company through the Vietnam New Urban Center LP Fund in May 2019.
Hence, Samty Corporation wants to develop its business activities in Vietnam by extending its relationship with PDR this time. In the meantime, PDR will use the worldwide partner’s financial and technological expertise to expand its market and develop projects towards ecologically green, convenient, and modern urban realms.
Meetings with top leaders and site visits to PDR’s ongoing projects are on the agenda for both sides. Mr. Nguyen Van Dat, Chairman of PDR, discussed PDR’s long-term development strategy, ambitious growth goals for the future, and plans to accomplish these real estate projects with Samty’s Vice Chairman. The Samty team used this time to examine, analyze, and evaluate several of PDR’s current projects, such as Astral City and Binh Duong Tower (both in Binh Duong Province), as well as other projects in Ho Chi Minh City.
The expansion of cooperation with Samty is a step forward in Mr. Nguyen Van Dat’s objective to boost foreign ownership in PDR, which he announced during the 2021 Annual General Meeting of Shareholders on March 27, 2021. Accordingly, PDR is ready to welcome foreign investors from developed countries such as the United States, Japan, Singapore, Hong Kong, and others, to participate and jointly develop real estate projects in Vietnam, generate profits, and provide outstanding customer benefits.
Currently, PDR is present in a bounty of renowned international and national indexes, including VN30-Index, FTSE Vietnam Index, and most recent MSCI Frontier Markets Index on 12th November 2021. VanEck Vectors Vietnam ETF (VNM ETF), Fubon FTSE Vietnam, Premia MSCI Vietnam ETF, iShare MSCI Frontier 100 ETF, S&P Select Frontier ETF, and other major investment funds hold PDR shares as part of their strategy to allocate investment to Vietnamese top stocks.
PDR’s prestige, brand image, and project development capabilities have been reinforced by Samty Group’s particular interest and desire to strengthen its cooperation with PDR. This will open up prospects for foreign capital to flow into the Vietnamese real estate market, as well as provide more benefits to customers and encourage the sector’s development.