VRE announced its Q1 2025 results with net revenue of VND2.1tn (flat QoQ and -5.5% YoY) (with 95% from retail leasing and 2% from property sales) and NPAT-MI of VND1.2tn (+8% QoQ and +9% YoY). The YoY drop in Q1 2025 revenue was due to YoY lower property