Private developers lead way in Vietnam

Seven in 10 of the most prestigious property developers in Vietnam are private enterprises, with the top three being property developers with headquarters in Hanoi, the Vietnam Report has announced.

According to the report carried out by the Vietnam Report Joint Stock Company from February 2015 to February 2016, the top 10 prestigious property developers were Vingroup Joint Stock Company, FLC Group Joint Stock Company, Hoa Phat Group JSC, Viglacera Corporation, Novaland Group, Ha Do Group, Urban Infrastructure Development Investment Corporation, Him Lam Corporation, Hoa Binh Company Limited, and Phu My Hung Development Corporation.

The report also listed the top five prestigious real estate consulting and brokerage firms in 2016, led by well-known brokerage Dat Xanh Real Estate Service and Construction JSC.

Following Vingroup on the list were Sai Gon Thuong Tin Real Estate Joint Stock Company and two FDI consulting companies CBRE Vietnam, and Savills Vietnam.

Hai Phat Investment JSC is the only Hanoi–based company on the list.

Vietnam Report also announced polling results of property enterprises on business prospects in 2016.

All respondents said that 2016 revenue would be higher than 2015. Eighty-three percent expected revenue to increase sharply in 2016, and the remaining 17 percent only a little.

The Vietnam Report is an independent research report, developed based on scientific and objective principles. Companies are evaluated and ranked based on criteria of finance and media reliability.

Data on project numbers, progress, rate of successful transactions, price of sales, and others, were used as complementary elements.

“Companies named on the lists all have stable financial capability, have development and business experience, and have made great contributions to general development of the entire Vietnam’s real estate sector,” the report said.

VNA