A corner of Ho Chi Minh City. (Photo: VNA)
Mark Ridley told Vice Chairman of the HCM City People’s Committee Le Thanh Liem on April 11 that the group hopes for more opportunities to lure potential investors to Vietnam and its southern metropolis, contributing to the city’s development in the future.
"I first came to Vietnam 25 years ago. This time, when I came back, I was very excited to see how the country has been developing. I must use the word “revolution” for this change and I may say that Vietnam has become one of the global property hotspots.
With robust fundamentals, positive macroeconomic outlook, and continuous investment in infrastructure, the market is thriving across a multitude of real estate sectors."
In the over two decades since it first stepped foot in Vietnam, Savills has always received support from the Vietnamese Government’s policies, he said, lauding the country for its efforts in perfecting mechanisms and investment environment.
"Vietnam has a strong economy with a very dynamic and young workforce. I think the future growth of Vietnam and particularly its major cities are going to be significant attractions for international investors. In the global context, the growth of Asian and Southeast Asian business is very important for Savills. In Vietnam, we have great expertise in place and we have seen so many international companies – from the US, Europe, Asia, and every other continent – wanting to invest in Vietnam. They are investing in all real estate segments from accommodation and hotels to retail, offices, as well as industrial and logistics property. In addition, we are starting to be contacted by a number of pension funds and institutions asking questions of how to access real estate investment in Vietnam.
Again, there is a lot of interest from international businesses, and that is why Vietnam is an important market for us. I would place Vietnam as one of our most important growth markets alongside China and India.
In Vietnam, we have a staff of over 1,600 – which makes it a really large office in our Southeast Asia network. Project management is important business here. We always deliver the consistent services to make sure that international customers can receive the same services in Vietnam."
Mr. Mark Ridley. (Photo: Savills)
Mark Ridley called for further support from HCM City’s leaders and relevant departments and agencies in order to create more opportunities for foreign investors in the local real estate market.
"I think the most important thing for the government is to provide as much transparency as they can to investors. Second, the quality of the actual products must be ensured, and third, the scale of the products must be large enough to attract foreign investment.
One of the most important things is that Savills has been around for more than 160 years, and more than 22 years in Vietnam. We have a very clear view of our operations and pride ourselves on our professionalism and reputation. Especially, we have a world-leading reputation when it comes to high-end residences and property management. We continue adopting the best practices and give consistent and professional advice to our customers. For example, we continuously apply innovation in our services such as developing the Savills Property Management Solutions in Vietnam. In Hanoi and Ho Chi Minh City, Savills is the only consultant to provide a full range of services."
For his part, Liem highlighted Savills Group’s potential, as well as its contributions to Vietnam’s development over the years.
The official briefed his guest on the city’s infrastructure development, stressing that HCM City stands ready to welcome both domestic and foreign investors and consultants to cooperate with the locality in urban infrastructure development.
HCM City will always improve its investment environment and create the best possible conditions for foreign investors to operate for a long term in the city, he pledged.
Founded in the UK in 1855, Savills is one of the world’s leading property agents. It spans across the globe, with 600 offices across the Americas, Europe, Asia Pacific, Africa, and the Middle East.
Savills Vietnam operates in the spheres of property consultancy and management; as well as housing, hotel, and resort business, among others.
