- CEO
- Hung Thanh Nguyen
- Sector
- Finance
- Industry
- Real estate development
- Address
- Ha Noi Vietnam
- IPO Date
- Apr 25, 2023
- Business
- Petroleum Real Estate Joint Stock Company (UPCOM: PVL) is a Vietnam-based real estate investment, property development, and construction enterprise. Founded in 2007 and headquartered in Hanoi, Vietnam, the company specializes in developing, trading, and managing residential, commercial, and industrial property assets across Vietnam, with primary operational footprints in Hanoi and Ho Chi Minh City.
The company operates through five core business divisions: Real Estate Development and Investment, Property Brokerage and Distribution, Construction and Engineering, Asset Management and Leasing, and Commercial Trading. Its comprehensive portfolio of products and services comprises the development, construction, and sale of multi-story residential apartment buildings and mixed-use urban complexes, including developments such as Linh Tay Tower and Petrovietnam Landmark; the planning and civil construction of commercial office towers, industrial park facilities, and hospitality developments; real estate transaction floor management, property brokerage, project valuation, and investment advisory services; general contracting, structural engineering, infrastructure installation, and project management; commercial office leasing, property maintenance, and facility operational management; and the wholesale distribution and trading of construction materials, technical equipment, and building systems. The company serves individual residential buyers, institutional real estate investors, commercial tenants, and industrial clients throughout Vietnam.
In recent developments, Petroleum Real Estate Joint Stock Company has implemented significant corporate and operational restructuring measures to stabilize its financial position and optimize its asset base. Following its listing transition from the Hanoi Stock Exchange to the UPCoM platform, the company has executed an asset rationalization program, which includes the strategic divestment and transfer of non-core land parcels in the Quoc Oai District of Hanoi to generate liquidity and reduce debt obligations. Additionally, the company has restructured its board of directors and executive leadership, realigned internal governance and compliance procedures, settled legacy labor and trade liabilities, and refocused its medium-term strategy on debt resolution, dispute settlement, and the phased revitalization of key residential and commercial project portfolios.