Phat Dat (PDR) continues to sell 'Ding' assets: Diamond land in Da Nang finds new owner

Accordingly, the Resolution stated that PDR will transfer 99% of shares of Bac Cuong Investment at a price not lower than VND1,100 billion.

Chairman of the Board of Directors Nguyen Van Dat is authorized to represent PDR in finding partners, negotiating prices, choosing the time and method of transfer and signing related legal procedures.

Bac Cuong Investment Company was established in July 2010, headquartered in Da Nang City. Initially, the Company had a charter capital of 27 billion VND, contributed by Xuyen Viet Joint Stock Company (93.7%) and legal representative Tran Thai Duong (6.3%). After many changes, the charter capital of Bac Cuong Company was increased to 500 billion VND, of which Phat Dat holds 99%. The General Director and legal representative is currently Mr. Le Quang Phuc - Member of the Board of Directors of PDR.

Notably, this enterprise owns a prime land plot of more than 2,700 m2 at 223 - 225 Tran Phu, Phuoc Ninh Ward, Hai Chau District, Da Nang City. This is a prime location with 3 frontages adjacent to Tran Phu, Bach Dang and Le Hong Phong streets. As of September 30, 2025, the value of the Tran Phu project's inventory was recorded at more than 640 billion VND, unchanged compared to the beginning of the year, including project transfer costs, land use rights transfer costs and other construction costs.

Before the announcement of transferring ownership shares at Bac Cuong Investment Company, recently, PDR's Board of Directors also approved the policy of transferring 2 other companies in the ecosystem.

Specifically, on October 27, 2025, Phat Dat approved the policy of transferring 79% of capital at its subsidiary, Thuan An 1 High-rise Real Estate Investment Company Limited. Notably, this company was only established on September 4, 2025, less than 2 months ago.

Thuan An 1 Company is headquartered at 39 Pham Ngoc Thach, Xuan Hoa Ward, Ho Chi Minh City, the same address as PDR. Its main business is real estate development.

Most recently, on October 31, 2025, the Board of Directors of Phat Dat Real Estate Development Company approved the policy to allow its subsidiary, Binh Duong Real Estate Investment and Building Development JSC, to purchase nearly 19 million newly issued shares of another subsidiary, Thien Long Real Estate Investment and Building Development JSC.

At the same time, PDR's Board of Directors also allows Binh Duong Building to transfer all shares owned at Thien Long Building to domestic or foreign investors, including all shares currently owned and additional shares to be purchased, totaling nearly 141 million shares.

These are all subsidiaries of PDR with ownership ratio of over 99%. In which, Binh Duong Building is a direct subsidiary and Thien Long Building is an indirect subsidiary.

Source: https://daibieunhandan.vn/phat-dat-pdr-tiep-tuc-ban-tai-san-dinh-khu-dat-kim-cuong-o-da-nang-tim-chu-moi-10395466.html