VRE reported improvement in quarter-on-quarter (QoQ) results in Q4 2020 with net revenue of VND3.3tn (USD141.4mn) and NPAT-MI of VND974bn (USD42.4mn). On a QoQ basis, Q4 2020 net revenue grew 85% and NPAT-MI increased 70% as they were driven by a surge in property sales, while retail leasing revenue earned flat growth of 2% vs Q3 2020. On a YoY basis, Q4 2020 net revenue grew 17% while NPAT-MI grew 10%.