Real Estate Market of Ho Chi Minh City is developing unsustainably due to shortage of asymptotical supply and demand in real estate – a general assessment of many real estate experts. Direction towards a source of clients with real demand is considered a sustainable development problem of real estate enterprises, at the same time brings more added values to the residential community in the future.
According to the statistical data of Real Estate Association of HCMC, in 2018, high-end segment accounted for about 30% and began to show signs of oversupply. Meanwhile, the number of intermediate apartments decreased by 34.2%, affordable apartments fell by 44.1%.
Market report in quarter 4/2018 of Savills Vietnam also indicated that apartment transaction volume reached 11,000 units, the highest absorption rate was 60%, in which Class C apartments accounted for 58% of total supply with successful transaction rate of 64%. The demand for housing in the market was very large, but the real demand came mainly from the middle and low class customer segments. In the face of the market shift, it is forecasted that the supply of intermediate apartments would be in shortage, difficult to meet the actual demand.
With the philosophy of "For a flourishing community", right from the early days of establishment, Hung Thinh Corp has determined to create a unique direction by developing affordable and fully-equipped housing products for the younger generation. In order to implement projects that meet the needs of young clients, Hung Thinh Corp has been looking for land in a radius of 10km to develop as well as shaking hands with partners to implement the M&A process as a basis forming the project.
In order to reduce costs and control the effectiveness of the project implementation process, Hung Thinh Corp decided to build a real estate supply chain with the establishment of many member units taking on specialized roles. Hung Thinh Incons specialized in general construction works, Hung Thinh Furniture specialized in interior production, PropertyX specialized in project distribution. Thanks to the application of this process, Hung Thinh Corp. has met the strict requirements of the market with qualified products at reasonable prices, gradually affirming the typical names of 8X and Moonlight apartment products.
From 2014 up to now, real estate market of HCMC has witnessed the development of Hung Thinh Corp when this enterprise deployed many apartment projects in the prestigious intermediate segment with the investment prices around VND 1 billion. Projects such as Sky Center (Tan Binh District), Melody Residences (Tan Phu District), Moonlight Residences, Lavita Garden, Lavita Charm (Thu Duc District), 9View Apartment (District 9), Moonlight Boulevard and Moonlight Park View (Binh Tan District), Richmond City (Binh Thanh District), SaigonMia (Trung Son Residential Area), Vung Tau Melody (Ba Ria City), Golden Bay Urban Area (Northern Peninsula of Cam Ranh)...
Building a reputation in the affordable apartment segment, Hung Thinh Corp shows its great ambition when deciding to "encroach" into the high-end segment. The biggest competitive advantage for this developer to confidently "fight" with "big faces" is in the real estate supply chain which is operating more smoothly and professionally. The imprint of high-class products of the Corp. is clearly reflected in projects such as Saigon Mystery Villas (District 2), Ranh Mystery Villas (Cam Ranh), Sentosa Villa (Phan Thiet), New City Riverside Urban Area (Bien Hoa City)...
Currently, with owning a land of about 3,000ha, Hung Thinh Corp has brought to the market nearly 80 qualified projects spreading across cities and provinces such as Ho Chi Minh City, Dong Nai, Ba Ria - Vung Tau, Binh Thuan, Lam Dong, Binh Dinh, Khanh Hoa ... Every year, this corporation regularly offers to the market from 5 - 7 projects with the supply of new apartments of about 5,000 - 8,000 products. Thanks to the prestige of the brand and the outstanding advantages of the project, Hung Thinh's products are always welcomed by the majority of clients in the market for a short time.
For 17 years of operation, Hung Thinh Corp y has currently l40 member companies, 11 representative offices and a system of big-scale trading floors with more than 2,600 employees and nearly 80 projects of various types from apartment, bottom land, shop house, villa, urban area, seaside resort villa... From a small company with a business philosophy and an unique direction, Hung Thinh Corp has become a top prestigious real estate enterprise in the Southern market.
An enterprise will not be considered successful when it does not associate its business activities with the sustainable development of the community. Thoroughly understanding this, leadership and members of Hung Thinh Corp have organized many activities for the community as well as participating in social programs.
Each year, the Corp always devotes a large budget for philanthropic activities. In 2018 alone, Hung Thinh spent nearly VND 65 billion to implement social security programs and built nearly 700 houses of affection for people in difficult circumstances in HCMC, Vinh Long, Ba Ria - Vung Tau, Binh Dinh, Quang Nam, Quang Ngai, Phu Yen, Khanh Hoa. This is the effort of the Corporation Chairman Mr. Nguyen Dinh Trung and the management board to maintain and promote the tradition of "Healthy leaves cover torn leaves" to help those in difficult circumstances to stabilize soon and develop life.
With the responsibility of a prestigious investor, Hung Thinh Corp has shown its efforts in creating good-quality products, meeting the needs of accommodation stability and investment in order to bring increasingly added values to clients. This "win-win" solution with partners and the journey of sharing benefits with society of this developer clearly demonstrates its business philosophy: "For a flourishing community".