Chairman of Dat Xanh Group: A 20-year journey “working in the entrepreneurial spirit”

Luong Tri Thin, founder and chairman of the Board of Directors of Dat Xanh Group

Starting a business with no money and the journey to build the Dat Xanh value chain

With a passion for business, entrepreneur Luong Tri Thin established his business and became famous, despite lacking money. Since his childhood, Thin had to strive to make a living and do many jobs spanning the length of the country before choosing Ho Chi Minh City as the location to establish his company.

Over the five years before founding Dat Xanh Group, Thin opened nearly 10 different businesses. Although he failed, those five years helped him accumulate a lot of valuable business experience. "Without this, it is unlikely that I would have the Green Land Group I have today," he said.

The anecdote about Thin's entrepreneurial journey can be summed up with his quote, “Crisis creates opportunities, challenges create the future.”

Over the 20-year development journey, Dat Xanh Group's breakthroughs have been marked by going against the general market trend.

In 2003, when the market focused on land, he chose to sell apartments and simultaneously exploit real estate leasing services. In 2006, the land market was in crisis, and as many businesses switched to the leasing sector, Thin turned his business towards land distribution and combined this with the birth and development of a centralised sales method with the concept of an "apartment supermarket."

During the period from 2008 to 2010, when the economic crisis broke out, Thin succeeded in listing Dat Xanh Group on the stock exchange. According to him, it was the right time to measure the resistance and increase the business' ability to overcome challenges. In 2010, when the market hit rock bottom, Dat Xanh Group boldly invested in developing apartment projects, marking the strong transformation of Dat Xanh Group into a project developer.

Though these decisions may appear to be in reverse, all of Thin's strategies are based on his knowledge, understanding, and in-depth analysis of every aspect of the market. The market fluctuates, but the business cannot stand still.

To Thin, new opportunities arise from every crisis. Seizing these opportunities early helps the business consolidate its competitive advantage and take the lead when the market recovers. That is how Thin's Dat Xanh Group overcomes crises, turning risks into opportunities.

One of Thin's special abilities is the art of using talent. To continue developing and expanding the system into key markets, he has trained skilful CEOs. Every year, the revenue from these businesses reaches tens of millions of dollars. This is a demonstration of Thin's unique perspective on using people.

He constantly evaluates and puts each individual in the right position where they can maximise their abilities, which is an important step that determines the success of every expansion strategy for Dat Xanh Group.

Entrepreneur Luong Tri Thin receiving the 2020 Outstanding Asian Entrepreneur Award

Thanks to his tireless contributions, Thin has felt honoured to be awarded with many outstanding accolades and certificates of merit, such as Outstanding Young Entrepreneur in Ho Chi Minh City (2012), a Certificate of Merit from the Chairman of Ho Chi Minh City People's Committee (2014), Outstanding Vietnamese Young Entrepreneur 2014, Red Star Award 2014, Real Estate Entrepreneur of the Year (2020), and Outstanding Asian Entrepreneur (2020), among others.

Working with an entrepreneurial spirit and the desire to conquer new heights

After nearly 20 years of development, Dat Xanh Group has become one of the most professional businesses in the field of real estate, developed the scale of the real estate industry, and contributed to significantly changing the appearance of urban areas in Vietnam. At present, Thin's business is ready to hit the goal of becoming a leading private economic and real estate group in Vietnam and across Southeast Asia.

However, Dat Xanh Group's journey to conquer new heights has not stopped. At the 2022 General Meeting of Shareholders, as chairman of the Board of Directors, Thin emphasised that in addition to the two core business fields of project development and real estate services, technology will be the new focus area in the quest to continue perfecting the real estate ecosystem.

The Dat Xanh ecosystem is building up its capabilities for the journey to conquer the 4.0 era

This goal has been demonstrated through the application of the Real Agent solution, a business-to-business platform for real estate product distribution, Fina, a platform that provides optimal solutions for home buyers when asking for loans, buying insurance, and making investments, and Ihouzz, a model that closely combines online and offline commerce, integrating diverse linkage service utilities.

The announcement of an enterprise resource planning project once again emphasises Dat Xanh Group's orientation towards comprehensive digital transformation, advancing in terms of management as it operates and does business with technology. This in turn creates a foundation for Dat Xanh Group to encroach on the field of the digital economy.

Thin stated, “Technology is always the key to all the important transformations of the business. As the government is encouraging the development of a circular and green economy associated with Industry 4.0, implementing a comprehensive digital transformation demonstrates my commitment and that of all employees towards the goal of sustainable development for the group and for the country as a whole.”

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