In the morning of apr 23, 2014, Dat Xanh Group (DXG) and Pacific Property and Infrastructure JSC. (PPI) held a ceremony to conclude an agreement on cooperation in investment in Water Garden project (an residential area in Hiep Binh Chanh ward, Thu Duc district, Ho Chi Minh City).
With this agreement, PPI will complete legal procedures, clear the area, and provided Dat Xanh with a project associated with land 20,096.5 m2 in area for construction of apartment buildings. After the agreement is concluded, Dat Xanh will initiate the design and generation of ideas for investment in technical infrastructure of this project in 2014.
The cooperation in this project will ensure a balance of overall benefits of both parties, improve business efficiency, boost growth and competitiveness, take advantage of strengths, competence, and experience of both parties, especially DXG’s experience of investment construction, distribution, and marketing of real estate. With a good view and a location near a river, this project is expected to create a distinctive civilized and modern lifestyle in Thu Duc district.
Valuing the cooperation of DXG, Mr. Pham Duc Tan, General Director of PPI asserts: "PPI has seen the rapid development of Dat Xanh on the real estate market. PPI wishes to keep receiving support and cooperation from Dat Xanh to initiate construction of new projects.
Observers said the depressed real estate market is an opportunity for investors with substantial financial resources to make investment in the form of merger and acquisition (M&A). The market has experienced many M&A in 2014. As perceived by DXG, the southern market still provide a lot of opportunities to develop. Some projects are potential but left unfinished and abandoned because investors in which lack financial resources. With its experience of market analysis, Dat Xanh will make selective invsetments and revive profitable projects, through which the cooperation with PPI to tdevelop the residential area in Hiep Binh Chanh, Thu Duc district is one of the strategic moves in 2014. This has created a lot of opportunities to boost M&A when both parties understand each other’s demand.
Mr. Pham Duc Tan - General Director of PPT and Mr. Luong Tri Thin - General Director of Dat Xanh at the ceremony to conclude an agreement on cooperation in Water Garden project
According to the annual financial statement 2013 of DXG, consolidated post-tax profit of the Group is 89,730 million Vietnam dong, which increases by 52% compared to 2012, 128% beyond the profit plan 2013 set forth by the General Meeting of Shareholders. post-tax profit of the parent company reaches 82.764 billion Vietnam dong, which increases by 43% compared to 2012. This rapid growth reflects the sound business plan of DXG for Investment in project development, construction, cooperation in investment, secondary trade in projects, and real estate trading. Mr. Luong Tri Thin - General Director of DXG said: In the near future, Da Xanh will focus on creating land fund and develop projects at key areas nationwide, develop diverse products: apartments, land, urban houses, villas, tourist resorts, hotels, etc. Our target is 4,000 products per year”.
TQ