Dat Xanh Group (DXG) Appoints New Chairman and CEO in Restructuring

Overview

Dat Xanh Group (DXG), a major Vietnamese real estate developer, announced the simultaneous replacement of its Chairman and General Manager on April 16, 2025. The board appointed Mr. Bui Ngoc Duc as Chairman of the Board of Directors and Mr. Nguyen Truong Son as General Manager, signaling a strategic shift as the company restructures its brand and operating model for a new growth cycle.

Key Facts

• DXG appointed Mr. Bui Ngoc Duc as Chairman, replacing Mr. Luong Ngoc Huy.
• Mr. Nguyen Truong Son was appointed General Manager, moving from his role as Chairman of Dat Xanh Services.
• Both executives have over 12 years of tenure at Dat Xanh Group.
• The restructuring aims to separate two core business lines: real estate development and real estate services.
• DXG targets 2025 revenue of VND 5,000 billion and after-tax profit of VND 268 billion, up 19% and 16% year-on-year respectively.
• The announcement was made via a press release on the afternoon of April 16, 2025.
• DXG closed at VND 15,000 on April 15, 2025, with trading volume of 18.3 million shares.

What Happened

On April 16, 2025, the Board of Directors of Dat Xanh Group (DXG) approved the appointment of Mr. Bui Ngoc Duc as Chairman of the Board, succeeding Mr. Luong Ngoc Huy. Mr. Duc, who previously served as General Manager, holds a degree in civil engineering from Ho Chi Minh City University of Architecture and an MBA from Open University Malaysia. He has been with Dat Xanh for over 12 years, playing a key role in standardizing processes and internal governance systems. He served as Chief Operating Officer in 2018 before becoming General Manager for the 2020–2026 term.

Simultaneously, Mr. Nguyen Truong Son was appointed as General Manager. Son graduated in Business Administration from Hanoi University of Commerce and holds an MBA from Maastricht University in the Netherlands. He joined Dat Xanh in 2011 and has held various core roles, including Deputy General Manager in charge of investment since 2017, overseeing evaluation and implementation of key projects. Most recently, he served as Chairman of Dat Xanh Services. The company stated that the leadership changes are part of a broader corporate restructuring focused on separating its two core business segments: real estate development and real estate services.

Market Context

DXG shares closed at VND 15,000 on April 15, 2025, down 0.33% with a high trading volume of 18.3 million shares. The stock trades on HOSE. The real estate sector in Vietnam has faced headwinds from regulatory tightening and rising interest rates, but DXG’s restructuring aims to position the company for the next growth cycle. The leadership change comes as the company sets modest growth targets for 2025, with revenue and profit growth of 19% and 16% respectively.

Strategic Significance

The simultaneous replacement of both top executives underscores DXG’s commitment to a strategic pivot. By separating real estate development and services into distinct business lines, the company aims to improve operational focus and capital allocation. The appointments of long-tenured insiders suggest continuity in corporate culture while signaling a fresh approach to execution. The restructuring is likely intended to streamline decision-making and enhance competitiveness in a recovering property market.

What to Watch

• Q1 2025 earnings release for DXG to gauge initial impact of restructuring.
• Progress on separation of real estate development and services segments.
• Any new project launches or land acquisitions under the new leadership.
• Changes in foreign ownership limits or investor sentiment following the shake-up.
• Updates on the broader Vietnamese real estate market recovery and regulatory environment.