After completing the M&A deal, Phat Dat Real Estate Development Joint Stock Company (HOSE: PDR) officially owns a rare land bank with 3 fronts at the intersection of Bach Dang – Tran Phu – Le Hong Phong. Dubbed as the billion-dollar commercial – cultural – tourist axis in the center of Ho Chi Minh City. Da Nang, Phat Dat will deploy here the first Branded Residences product line in the tourist capital of Central Vietnam.
As part of the development strategy of the Central Coast region, together with the commitment to accompany the Government and the City People’s Committee. In the process of building this key economic zone, PDR has completed the formalities to officially own the “diamond land fund” with three fronts on the busiest and most expensive street in the city centre. Danang.
The land fund has an area of nearly 3,000 m2, located on Bach Dang Boulevard, adjacent to the fronts of Tran Phu and Le Hong Phong streets. This fusion is considered to be the center of all economic, diplomatic, cultural and entertainment activities of Da Nang.
From the project location, it can be easily connected to the city’s arterial roads and bridges across the Han River such as Han River Bridge, Dragon Bridge, Tran Thi Ly Bridge. These are all important infrastructure works that contribute to changing the face of the most livable city in Vietnam.
The project also inherits all the existing high-class external facilities around such as the Administrative Center on the west bank of the Han River, which is embellished and developed from the existing center area, with highlights. is the Administrative Center, Dien Hai Citadel, museums, cultural and historical works, markets, hotel and office buildings, commercial service areas, etc. surrounding the City Square, connected to the city. chain of service – commerce – tourism projects along the two banks of the Han River running in the north-south direction. The CBD (Central Business District), on the east bank of the Han River, is home to the city’s main economic and financial buildings and high-rise office buildings, commercial service areas, and hotels. … surrounding the international square, with the highlight of the new high-rise center, which is decorated and developed. This will be a 24/7 urban area, where Da Nang’s international trade and integration activities will be concentrated.
A representative of PDR said that the company’s orientation will be to build in this expensive land fund, the brand real estate product line (Branded Residence) including luxury apartments combined with 5-star hotels in limited quantities, managed and operated by the world’s top famous corporations.
After successfully creating a brand in high-end and mid-end residential real estate, PDR chose to develop branded real estate. This is not out of the trend of shifting of the world’s luxury real estate market. In addition to beautiful land banks in coastal areas or resorts, there is a shift of branded real estate products into big cities. According to a survey by Savills, more than 60% of brand real estate projects in the world are concentrated in big cities.
This trend is becoming clearer when the number of branded real estate projects increases rapidly and under the influence of the Covid-19 epidemic has partly changed the experience needs of the super-rich. This type of real estate brand perfectly meets the desire to experience a luxurious and comfortable living space with full services and high-class facilities from international hotel operation management units.
Also according to a report by Savills, Vietnam is among the top 10 fastest growing branded real estate markets in the world. The supply of branded real estate here increased by 11% on average from 2017. By the first quarter of 2021, Vietnam had 24 branded real estate projects, mainly in coastal resort locations.
This product line is already quite familiar to the markets of Hanoi and Ho Chi Minh City, and Da Nang will be the next city to welcome branded real estate products pioneered by PDR for the first time, which not only creates a boost to the regional real estate market, but also a premise for explosive growth in the future. Pursuing this segment requires developers not only to have potential in terms of land or finance, but also a wealth of experience. PDR is one of the few developers with strong capability in implementing high-end real estate projects across the country and the implementation of this unique prime project will bring outstanding sales performance and cash flow. fast for the Company.