2018 marked a successful year of FLC Group with notable achievements in its core business – real estate. The Group has managed to diversify its investment portfolio including: ecotourism resort complexes, urban zones, residential buildings, shopping centers, offices for lease, industrial zones, etc.
FLC Group was honored in Top 3 Most Reputable Property Developers in 2019 officially announced byVietnam Report Joint Stock Company on March 15, 2019.
This is an independent research result of Vietnam Report, built on objective and scientific principles. The reputation of companies is assessed based on financial factors, corporate image in the media and the evaluation of industry experts, specifically including: financial capacity shown in the latest financial statements (total assets, total revenue, profits, capital efficiency, etc.); media reputation; survey of industry experts; survey residents living and working in big cities on the level of satisfaction with real estate products/services.
In addition, business surveys on operation status, number of projects, handover progress, etc. in 2018-2019 are also used as additional factors to determine the position of enterprises in the industry.
According to Vietnam Report, 2018 continued to be considered a favorable year for Vietnam’s real estate, driven by the following factors: GDP growth per capita; increasing production activities and booming tourism; the development of mid-level apartments: affordable prices, good liquidity; increasing real estate investment demands of foreign investors; reducing mortgage interest rates; the rapid development of coastal cities.
2018 also marked a successful year of FLC Group with notable achievements in its core business – real estate. The Group has managed to diversify its investment portfolio including: ecotourism resort complexes, urban zones, residential buildings, shopping centers, offices for lease, industrial zones, etc. Notably, FLC Halong came into operation in December, 2018.
In addition, FLC Samson, FLC Quy Nhon and FLC Quang Binh – the Group’s key resort complexes after putting into operation have been enjoying good performance. Combined with Bamboo Airways, an airline owned by the Group, a closed and integrated ecosystem has been developed, fully serving both the travel and accommodation needs of tourists, thereby better exploiting the local tourism potential.
These contributions have been also recognized by different domestic and international awards for individual project and for FLC Group as an investor such as: “Best Resort Real Estate Project” and “Best ASEAN MICE Venue” for FLC Quy Nhon; “Best Green Building Project” for The Coastal Hill – FLC Grand Hotel Quy Nhon; “Top 10 Most Reputable Real Estate Developer”, “Top 50 Best-Growing Enterprises in Vietnam”, “The Enterprise That Has Made A Great Contribution To The Development Of Vietnam’s Tourism Industry” for FLC Group, etc.
Currently, FLC Group is having more than 230 projects in their portfolio which are spanning over 56 provinces and cities across the country, expected to provide nearly 7,000 different products including commercial apartments, seaside villas, shophouses, condotels, etc.
According to Vietnam Reports, there are three following prominent trends that are forecast to orient real estate growth in 2019.
Firstly, the development of green real estate will focus on green – clean – beautiful and environmentally friendly projects. Currently there are many green standards in circulation such as: Edge (by IFC under WB); Green Mark (Singapore), Leed (USA), Lotus, etc., but in fact there are very few buildings recognized as “green” in Vietnam. In addition, with increasing requirements and affordability for safer, more comfortable and smarter living spaces of customers, green real estate will surely become the main trend of the industry in the near future.
Secondly, industrial zones remain potential for growth thanks to the relocation of production facilities into Vietnam in the past few years. Vietnam is strategically located in Asia, bordered by China, and many large seaports are connected to industrial parks by the system of major roads and highways being focused on complete investment.
Thirdly, although it has cooled down compared to the previous year, the resort – tourism real estate still has room for development. The latest report of BCG shows that in 2017, Vietnam earned USD8.3 billion from international visitors, lower than Indonesia with USD12.6 billion; Singapore with USD18.4 billion, Thailand with USD52.5 billion. The reason is not because of fewer tourists coming to Vietnam but because tourists have less opportunity to spend money in Vietnam. It can be seen that the development of high-class resorts, entertainment services, shopping, etc. are not really compatible with Vietnam’s tourism potential. Accordingly, investors can further boost studies and develop shophouses and condotels and other products which are more modern and customer friendly.
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