PDR completes VND 7.7 trillion payment for 35% stake in Lotte Properties HCMC

Overview

PDR (Phát Đạt) has completed a VND 7,666 billion payment to acquire a 35% stake in Lotte Properties HCMC, the legal entity developing the Lotte Eco Smart City Thu Thiem project. This transaction, announced on August 10, 2026, officially makes PDR the largest shareholder in the project company and a key co-developer of the mixed-use complex in Thu Thiem New Urban Area.

Key Facts

• PDR completed a VND 7,666 billion payment on August 10, 2026, to finalize the acquisition of a 35% stake in Lotte Properties HCMC.
• The project company now has four members: Lotte Shopping Co., Ltd (30.59%), Hotel Lotte Co., Ltd (22.94%), Lotte Engineering & Construction Co., Ltd (11.47%), and PDR (35%).
• PDR will co-develop residential blocks 2-2, 2-4, and 2-6, and will develop commercial towers 2-1 and 2-3, including retail podiums and basements.
• The Lotte Eco Smart City Thu Thiem is a large-scale mixed-use complex in Zone 2a of Thu Thiem New Urban Area, District 2, Ho Chi Minh City.
• The cooperation agreement between Lotte Group and PDR was signed on June 26, 2026.
• PDR’s stock closed at VND 12,100 on August 12, 2026, on the HOSE.

What Happened

PDR announced on August 10, 2026, that it had completed all payment obligations totaling VND 7,666 billion, thereby finalizing the transfer of a 35% capital contribution in Lotte Properties HCMC. This move establishes PDR as a 35% owner of the entity responsible for the Lotte Eco Smart City Thu Thiem project, located in Zone 2a of Thu Thiem New Urban Area, An Khánh Ward, Ho Chi Minh City.

According to the cooperation structure, PDR will co-develop residential portions in blocks 2-2, 2-4, and 2-6, and will lead development of commercial towers 2-1 and 2-3, along with retail podiums and basements. The project is envisioned as a multi-functional urban complex integrating commercial, service, office, accommodation, residential, and public spaces, contributing to the formation of a new urban center for Ho Chi Minh City.

The completion of the transaction marks a significant step in the partnership between PDR and Lotte Group, demonstrating PDR’s ability to arrange resources and fulfill financial commitments for large-scale projects in central Ho Chi Minh City. The cooperation agreement was signed on June 26, 2026, and PDR’s Chairman Nguyễn Văn Đạt expressed confidence that the project will become a new symbol of modern urban Vietnam.

Market Context

PDR, listed on HOSE, closed at VND 12,100 on August 12, 2026. The real estate sector in Vietnam has been recovering, with developers seeking strategic partnerships to fund large projects. This transaction positions PDR as a key player in the prime Thu Thiem area, which is expected to become a new central business district. The deal also reflects a trend of foreign-local joint ventures in Vietnamese real estate, as seen with other major projects.

Strategic Significance

For long-term investors, this deal is a transformative move for PDR, giving it exposure to one of the most anticipated mixed-use developments in Ho Chi Minh City. By acquiring a 35% stake, PDR becomes the largest shareholder in the project company, surpassing Lotte’s individual entities. This not only diversifies PDR’s project portfolio but also enhances its reputation as a capable partner for international conglomerates. The project’s scale and location in Thu Thiem could provide significant revenue and profit contributions over the coming years, aligning with PDR’s strategy to focus on high-value urban developments.

What to Watch

• Progress of construction and sales at Lotte Eco Smart City Thu Thiem, particularly the residential blocks PDR is co-developing.
• PDR’s financial health and leverage, given the large VND 7,666 billion payment.
• Any additional capital calls or funding requirements for the project.
• Regulatory approvals and land handover milestones for the project.
• PDR’s quarterly earnings reports to assess the impact of this investment on profitability.