The Australian Chamber of Commerce in Vietnam (Auscham), exclusively partnered with Cushman & Wakefield, will host the event at Sofitel Saigon Plaza, Ho Chi Minh City on Thursday, September 12, 2019 where directors and experts from Vietnam’s real estate industry will provide key observations, analysis, and predictions about the future of the market and "What’s Next."
This is the 7th time Auscham is organizing this event, bringing together industry leaders to collaborate and share their insights.
This year, the organising board will continue its mission to produce the country’s “must-attend” event for commercial, industrial, and residential real estate in Vietnam.
With one of the world’s fastest-growing economies, Vietnam has become more globalised than ever, despite increasing political and economic unrest across the globe.
According to the symposium organizing committee, the commercial real estate and residential market in the biggest cities in Vietnam and neighboring provinces has become more and more attractive in recent years, attracting a lot of domestic and foreign investment, especially in luxury and class A properties.
Following the global financial crisis, as the Vietnamese real estate market began to pick up, Auscham organised its inaugural Vietnam Real Estate Symposium in 2013. In years prior, Vietnam lacked a single event to showcase all sectors of the country’s real estate market.
The vision was bold and straightforward: to be Vietnam’s preeminent event for regional investors, developers, government representatives, and service providers in the real estate market.
The event aims to bring together major industry players to share insights, track recent changes and developments in policy and law, and create a collaborative atmosphere for all interested parties to connect, network, and interact.
While escalating trade tensions between the United States and China have commanded attention, Vietnam has emerged as a viable alternative for companies looking to diversify their supply chains and hedge against rising political uncertainty.
In the first half of 2019 alone, Vietnam’s economy witnessed a growth rate of 6.7 per cent and a record $246 billion in trade volume. With one of the world’s fastest-growing economies, Vietnam has opened its markets in recent years, joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade pact, landing companies and supplier networks decamping from China, and recently inking a free trade agreement with the European Union (EVFTA).
As one of fastest growing and globalizing economies in the world, Vietnam attracts investors with its stability.
Vietnam’s property market has steadily recovered since the difficulties of 2009-2013, particularly within the residential sector. A surging demand for residential property has led to a high absorption rate of 70-80% of new supply (with 30,000 to 40,000 new apartment units available each year), the committee notes.
It says markets in provinces surrounding Ho Chi Minh City, Hanoi and Da Nang have subsequently prospered as well. Foreign participation and investment continues to grow due to project cooperation, M&A, and direct financing, while domestic and foreigner buyers have driven interest for Grade A and luxury apartments and spurred new models for real estate development.
While the outlook for 2019 and beyond is exciting, previous years have demonstrated that markets are not definitively predictable. To prevent the risk of a new bubble, it is vital to consider the necessary procedures and policies to avoid market overheating.
The organising board says it has gathered the industry’s thought leaders to provide essential market insights, analysis and predictions. The exclusive event will be limited to 200-300 attendees, including local and regional developers, domestic and foreign large-scale investors, multinational companies, and government representatives.
Representatives of leading companies in the industry such as VinaCapital, DKRA, Cushman & Wakefield Vietnam and Cushman & Wakefield Asia Pacific.
The organizers say that the symposium will have three sessions with topics of high, practical relevance, including: Now and Next; Economic punch; Secrets of the local residential market; Market truths; Prop Technology in the field of real estate; Have we all heard it before; and “Global Mega Trends to Transform Industrial and Logistics Real Estate.
Each session will feature in-depth discussions on each segment from which will be drawn discuss in depth and penetrate into each segment, from which an outline of the prospects and directions for the market will be drawn.
In session 1, “Now and Next,” directors and experts from VinaCapital, DKRA, C&W Vietnam, and C&W Asia-Pacific will pool their knowledge on diverse topics including The Economic Punch, The Secrets of the Local Residential Market, Market Truths, and PropTech, with diverse presentations.
In session 2, “Have We All Heard It Before”, speakers from major domestic and foreign corporations and investment funds will discuss global, regional, and local challenges that impact Vietnam.
Speakers in this session will compare the current climate to some of the more turbulent years gone by, featuring a panel of experts with 50+ years experience in the Vietnamese market.
In session 3, “Global Mega Trends to Transform Industrial and Logistics Real Estate”, a myriad of topics will be discussed for the sector currently in the limelight thanks to global trade tension and repositioning. Experts from industrial park development, logistics spec building, and one of Vietnam’s largest freight forwarders will discuss and answer questions about how, when, and why they think the global mega-trends will transform their sector and real estate.
