How Did Real Estate Business Leaders’ Earnings Fare in Q3 2025?

According to the periodic disclosure of An Gia Investment and Real Estate Development Joint Stock Company, Mr. Nguyen Ba Sang – Chairman of the Board of Directors, earned nearly VND 1.9 billion in the first nine months of 2025, an increase of VND 745.1 million, or 99.7%, compared to the same period last year.

However, General Director Nguyen Thanh Son saw a shocking drop in income and compensation, from nearly VND 1.3 billion in the first nine months of 2024 to VND 0. In contrast, Deputy General Director Nguyen Mai Giang recorded an increase in income from VND 503 million to nearly VND 1.1 billion.

Mr. Nguyen Thanh Chau, Chief Accountant, received VND 972 million, equivalent to VND 108 million per month.

Meanwhile, Khang Dien, although not disclosing the compensation list for its leadership team, revealed a stellar year for its executives. In the first nine months of this year, the Board of Directors and Executive Board of Khang Dien were paid a bonus fund of VND 11.1 billion, an increase of VND 2.9 billion, or 35.4%, compared to the same period last year.

According to Khang Dien, this amount is based on the profit allocation ratio for 2024 approved at the Annual General Meeting of Shareholders on April 24, 2025.

However, this is likely only a small portion of their total income, as Khang Dien also implemented an ESOP share allocation plan for employees.

At the General Meeting of Shareholders held in April this year, the proposed plan was based on criterion 1: each member of the Board of Directors would receive 500,000 shares (equivalent to VND 17.3 billion at the market price of KDH on November 14); each member of the Executive Board would receive 400,000 shares (equivalent to VND 13.9 billion); the Chief Accountant would receive 300,000 shares (equivalent to VND 10.4 billion); and Directors would receive 50,000 shares (equivalent to VND 1.73 billion).

Khang Dien’s leadership enjoys excellent benefits amidst strong revenue and profit growth for the company.

In the first nine months of 2025, revenue increased from VND 1,232 billion to VND 2,869 billion, resulting in an after-tax profit of VND 841 billion, a 105% increase compared to the same period last year.

In the consolidated financial report for Q3/2025 of Phat Dat Real Estate Development Corporation (PDR), Mr. Nguyen Van Dat, Chairman of the Board of Directors, received nearly VND 547 million, equivalent to approximately VND 182 million per month, a 13% increase compared to the same period in 2024.

Mr. Nguyen Tan Danh, Vice Chairman of the Board of Directors, received VND 270 million, equivalent to VND 90 million per month.

Mr. Bui Quang Anh Vu, General Director of Phat Dat, received over VND 1.6 billion in Q3/2025, equivalent to VND 548 million per month, a 14% increase compared to the previous year’s VND 1.4 billion.

Independent members of the Board of Directors also saw significant income increases. For example, Mr. Le Quang Phuc’s income rose from VND 122 million to VND 229 million (approximately VND 76 million per month), while Mr. Tran Trong Gia Vinh and Mr. Duong Hao Ton saw their incomes increase from VND 120 million to VND 180 million (equivalent to VND 60 million per month).

During this quarter, the company allocated only over VND 26 billion for employee salaries and income, a 7% decrease compared to the same period last year. Due to a reduction in the number of employees, the average income per employee still increased, reaching approximately VND 36.7 million per month, VND 2.7 million higher than the same period.

In Q3, Phat Dat continued to record positive business performance, with total net revenue increasing by 19% to over VND 506 billion and after-tax profit reaching nearly VND 86 billion (a 67% increase).

Phat Dat attributed this to the continued recognition of revenue from real estate transfers from the Bac Ha Thanh project (Quy Nhon, Gia Lai) and revenue from the transfer of a project on Ky Dong Street (Nhieu Loc Ward, Ho Chi Minh City).

According to the report of Nova Group – Novaland (NVL), Mr. Bui Thanh Nhon, Chairman of Novaland’s Board of Directors, received a compensation of VND 900 million in Q3/2025, equivalent to VND 100 million per month, unchanged from the previous year.

Mr. Duong Van Bac, General Director of Novaland, still earned up to VND 3.6 billion in the first nine months, equivalent to approximately VND 400 million per month, a 71% increase compared to the same period last year.

Mrs. Tran Thi Thanh Van, Deputy General Director of Novaland, received nearly VND 2.2 billion, and Mr. Cao Tran Duy Nam, Deputy General Director, received approximately VND 2 billion in the first nine months of this year.

In Q3/2025, Novaland spent up to VND 240 billion on employee and management expenses, a more than 20% increase compared to the same period. As a result, the average income per Novaland employee reached approximately VND 23.5 million per month, an increase of VND 1.8 million compared to the previous year.

Novaland’s consolidated net revenue for the first nine months reached nearly VND 5,398 billion but still recorded an after-tax loss of up to VND 1,820 billion.

In Q3/2025, Dat Xanh Group (DXG) allocated VND 9.2 billion for the Board of Directors, Board of Supervisors, and Executive Board.

Of this, Mr. Bui Ngoc Duc, General Director, received nearly half with VND 4.1 billion, a 34% increase compared to the VND 3.07 billion in the same period last year, equivalent to VND 456 million per month.