Forbes Vietnam – Real Estate Conference 2020
November 17, 2020
12 November 2020 — Forbes Vietnam held a Real Estate Conference 2020 under the theme Rising above the Headwinds in Ho Chi Minh City. The conference provided updated market information and real estate investment trends to nearly 400 guests. It was a platform for businessmen and experts to exchange creative solutions, propose macroeconomic policy recommendations, as well as explore new investment opportunities and market promotion. The event gathered leading companies and organisations, investors, real estate developers in Vietnam and regions, who shared their perspectives regarding the residential, commercial, hospitality and industrial segments, as well as new trends that affect the market in the long-term.
The event was held in the context that Vietnam’s GDP has been growing at 2.12 per cent by the end of the third quarter in 2020. Not only has the real estate market been hit hard by COVID-19 like many other industries, it has also been affected by legal issues, preventing new projects from launching. The year 2020 is the second consecutive year that the primary market has been less active due to limited supply. However, the demand is still high, with the primary selling price in a positive trend, and even increasing slightly in both Ha Noi and HCMC. Besides these short-term challenges, the government has pushed on investing in infrastructure development, making it as one of the keys to unlock economic growth, and pushing forward the real estate market in the long term by connecting and master planning different regions.
The conference opened with the keynote speech The Market Outlook, which shared how the market has been moving forward in 2020, with a focus on residential housing in the new normal. This outlook showed the centres of development, popular products and segments, and the market forecast. Affected by the epidemic and macro development policies, real estate businesses have been greatly challenged. While only a few could launch their products, many have been trying different ways to keep their businesses afloat. Leading experts and business leaders shared how they have been navigating the market in the first-panel discussion with the topic The Agility Factor.
As urbanisation continues in developing countries, there will be 50 to 55 per cent of the population in Vietnam living in urban areas by 2035. Competitiveness among countries will soon become the issues that cities have to face. Therefore, urban development is not only about building infrastructure, but also creating a good living environment to attract high-quality human capital. The second keynote speech Cities In The Future suggested how to make such cities with new approaches.
As a developing country with a high rate of urbanisation, it is forecasted that by 2035, more than half of the Vietnamese population will live in urban areas. Urban development in Vietnam takes place at the same time as the formation of a new city and renovation of existing urban areas. It requires close coordination between master plans, detailed plans, real estate projects, transportation and services along with technology infrastructure. In the second panel session Building Livable Cities, master planners, architects as well as business representatives shared the opportunities and challenges for future urban formation.
Real Estate Conference 2020 had speakers that represented dynamically growing real estate businesses and market research firms:
- Keynote Speech 1: The Market Outlook – Vo Huynh Tuan Kiet, Director CBRE Vietnam
- Keynote Speech 2: Cities In The Future – Tan Chin Chai Benjamin, Architectural Director CPG Vietnam, General Manager Hanoi Office
- Panel Discussion 1: The Agility Factor – Andy Han Suk Jung, Chief Executive Officer SonKim Land; Angus Liew, General Director Gamuda Land (HCMC); Jason Turnbull, Deputy Managing Director cum Chief Finance Officer Masterise Homes; Nguyen The Nhien, Deputy Chief Executive Officier Hung Thinh Land; Bui Nguyen Huyen Trang, Senior Director – Markets JLL Vietnam
- Panel Discussion 2: Building Livable Cities – TSKH-KTS. Ngo Viet Nam Son, President NgoViet Architects & Planners; Su Ngoc Khuong, Senior Director, Investment Savills Vietnam; Olivier Souquet, Founder and Chairman De-So Architects Planners; TS-KTS. Tran Van Thanh, Co-Founder, Design Director ASA Lighting Design Studios (Coordinator)