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VCSC Daily - Real estate prices rerating downward - Risk on trade loses steam

Over the weekend we saw one of the first developers choosing to bite the bullet, cut its losses, and try to sell its products at a discount. PV Power Land (HNX: PVL) announced it would cut its primary selling price on its Petro Landmark project in District 2 by up to 35% vs. its claimed cost, from a cost of VND23,8mn/m2 down to as low as VND15,5mn including VAT