Hanoi, Feb. 3 -- A volatile real estate market caused revenues and profits of realty businesses to decrease sharply in the fourth quarter of 2022.

Phat Dat Real Estate Development Joint Stock Company (PDR) reported net revenue of 14.6 billion VND (622,600 USD) in the last three months of 2022, a sharp decrease compared to the 1.29 trillion VND recorded in the fourth quarter of 2021.

The company suffered an after-tax loss of 229.4 billion VND in Q4 of 2022, while in the same period in 2021, it reported a net profit of 751.4 billion VND. This was considered Phat Dat's "failure" quarter as the company reported a loss for the first time since it announced business results.

Dat Xanh Group Joint Stock Company (DXG) reported a loss of 460 bil...