In the first nine months of 2025, several major real estate companies reported robust business results, signaling a gradual market recovery after a period of stagnation. Alongside this rebound, employee incomes within the sector have shown significant improvement.
Employee Income at Phat Dat
At Phat Dat Real Estate Development Corporation (stock code: PDR), third-quarter 2025 revenue surged by 19,380% year-on-year, reaching 506.5 billion VND.
Despite a sharp decline in financial activity revenue to under 2 billion VND (down 99% from 194 billion VND in Q3/2024), the company’s strong operational performance drove after-tax profits to nearly 86 billion VND, a 67% increase.
For the nine-month period ending September 2025, Phat Dat’s net revenue and net profit reached over 964 billion VND and 201 billion VND, respectively, marking a 457% and 31% rise compared to the same period last year.
As of September 2025, Phat Dat employed 238 workers, a reduction of 48 compared to year-end 2024. While third-quarter wage expenses decreased by 7.7% year-on-year to nearly 26.2 billion VND, average employee income rose to approximately 36.7 million VND per month, an increase of 2.7 million VND.
Meanwhile, Chairman Nguyen Phat Dat earned 547 million VND, a 12.8% increase, and CEO Bui Quang Anh Vu received over 1.6 billion VND, up 14% year-on-year.
Employee incomes rise as real estate firms recover
Income at An Gia
In Q3/2025, An Gia Investment and Real Estate Development Corporation (stock code: AGG) reported net revenue of 170 billion VND, a 36% year-on-year decline. However, a 40% reduction in selling and administrative expenses led to after-tax profits of 109 billion VND, up 354% from the previous year.
Despite the third-quarter recovery, the company’s year-to-date performance remains subdued. For the nine months, An Gia achieved revenue of 556 billion VND (down 68%) and after-tax profits of 199 billion VND (down 17%).
During this period, personnel costs rose by nearly 20% to 16.9 billion VND, despite a 10-person reduction in the workforce to 111 employees.
Average monthly employee income increased by 1.4 million VND to approximately 16.9 million VND.
Chairman Nguyen Ba Sang earned over 1.8 billion VND in nine months, a 2.5-fold increase, averaging 208 million VND monthly.
Income at Dat Xanh
In Q3/2025, Dat Xanh Group (stock code: DXG) reported after-tax profits of nearly 93 billion VND, triple the previous year. For the nine months, net profit reached nearly 223 billion VND, a 2.3-fold increase, achieving over 60% of the annual target.
As of September 2025, Dat Xanh employed 3,516 workers, an increase of 1,000 compared to year-end 2024.
Wage expenses for the period rose by 66.7% to 415 billion VND, with average monthly income reaching 13.1 million VND per employee, up nearly 3 million VND year-on-year.
CEO Bui Ngoc Duc earned 4.1 billion VND in nine months (up 1 billion VND), averaging 455 million VND monthly.
Income at Novaland
Novaland Investment Group (stock code: NVL) reported nine-month revenue of nearly 5.4 trillion VND, including 4.956 trillion VND from sales (up 33%) and 442 billion VND from services. However, the company incurred a consolidated after-tax loss of 1.820 trillion VND, primarily due to reduced financial activity revenue.
As of September 2025, Novaland employed 1,134 workers, an increase of 41. Personnel and administrative expenses rose by over 20% to 240 billion VND, with average monthly income reaching 23.5 million VND per employee, up 1.8 million VND year-on-year.
Chairman Bui Thanh Nhon earned 900 million VND in nine months (unchanged), while board members Pham Tien Van and Hoang Duc Hung each received 450 million VND.
Average employee incomes across major real estate firms range from 13 million to nearly 37 million VND per month.
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