Mr. Bui Quang Anh Vu – CEO of Phat Dat Real Estate Development Joint Stock Company.
Attending the conference were representatives of major real estate companies such as SunGroup, VinGroup, Phat Dat, Becamex… Sending a submission to the conference, Mr. Bui Quang Anh Vu – CEO of Phat Dat Real Estate Development Joint Stock Company proposed, offered suggestions to the Government and relevant departments.
Firstly, Mr. Vu proposed to continue having preferential credit packages, supporting the shortening of approval time, creating conditions for credit institutions to disburse loans with reduced interest rates linked to enhancing credit access.
Secondly, representatives of Phat Dat proposed to continue having policies that support removing legal procedures for the real estate market, for projects to be able to be traded in the market.
Thirdly, Mr. Vu proposed that the Government actively give directions and establish an interdepartmental working group to support localities and businesses in promptly overcoming difficulties.
Mr. Vu said that in 2023, Phat Dat also faced major challenges related to capital and liquidity. However, thanks to the timely solutions of the Government and the trust of investors, Phat Dat successfully mobilized capital through issuing individual shares for professional securities investors, raising over 670 billion dong.
“Especially, at the end of 2023, Phat Dat has paid its corporate bond debts of 2,500 billion dong on schedule and ahead of schedule, bringing debt from bonds to Zero. This effort of Phat Dat has demonstrated the company’s credibility and responsibility towards bondholders; credibility with credit institutions; contributing to rebuilding the trust of investors, consolidating confidence in the corporate bond market in particular and the capital market in general,” Mr. Vu said.
In addition, all Phat Dat real estate projects have complete legal conditions for credit provision by banks. Specifically, in the fourth quarter of 2023, Military Commercial Joint Stock Bank (MB Bank) has provided comprehensive financial solutions of over 6,000 billion dong to investors and project owners in Binh Duong Province.
By February 2024, MB Bank continues to support a credit package of 1,500 billion dong for a project located in Binh Dinh Province.
Through the conference, representatives of Phat Dat believe that with the attention of the Government, the State Bank, and relevant departments, the capital market will recover and grow, contributing to promoting the country’s economic development.
