Dat Xanh Services, on April 23rd 2021, officially launched Dat Xanh International Real Estate Service Joint Stock Company specialising in real estate brokerage for international clients and organisations.
An essential piece in a comprehensive real estate service ecosystem
According to statistics of HCM City Real Estate Association, in the past five years, 17 large property firms in Viet Nam sold 12,335 estate products to foreign organisations and individuals in leading markets such as Shanghai, Shenzhen, Taipei and Hong Kong. The home buyers also come from countries such as Australia, Singapore and South Korea.
International customers always need transparent market information when dealing with real estate in Viet Nam. Meanwhile, transactions need to be guaranteed, with assessed project legal and effectively managed and leased assets. However, the current brokerage firms for international customers have a small scale and lack organised and professional services. In addition, many investors have not yet understood legal procedures and transaction methods with foreign customers. Therefore, the needs of international customers have not been met.
On the other hand, the outbreak of the COVID-19 pandemic has made many small-scale foreign real estate brokers close or return home. Many customers have been struggling to handle property transaction procedures. The pandemic also stalled transactions of most international customers when they cannot regularly travel to Viet Nam to complete legal documents. For these reasons, it is necessary to have a professional and dedicated local property service brand to “remove” the above difficulties.
To capture the needs, Dat Xanh International has officially launched a new business segment with potential and many challenges after two years of careful preparation. It has built a system of partners in key foreign markets and professional human resources to provide services with global quality and standards. It also created a good source of products from domestic investors according to the tastes of international customers.
Creating a difference, Dat Xanh International has implemented international real estate standards to connect foreign buyers and domestic investors and introducedcomprehensive real estate services to offshore clients. The services range from providing market information consulting and project management, product brokerage, consulting and implementing legal procedures, signing sales contracts, managing and exploiting assets, and representing customers in transactions.
The launch of Dat Xanh International has been a first firm step in the globalisation strategy of its property marketing and distribution. It would also open an opportunity for sustainable investment of estate distribution in Việt Nam for international customers and vice versa.
Speaking at the launching ceremony, Nguyen Truong Son, general director of Dat Xanh Services, said: “Dat Xanh International has been an important landmark, marking a breakthrough development of Dat Xanh Services in its global service strategy. At the moment, there is no real estate business building a comprehensive real estate service ecosystem for international customers.”
At the launching ceremony, international partners said that real estate products in Viet Nam have great attraction to customers in Shanghai and Hong Kong markets. They expected Dat Xanh International to be a solution with the specialised operating model and understanding of this international segment.
Property distribution on digital platforms
Dat Xanh Services and Dat Xanh International will apply digital technology in real estate transactions. The Real Agent platform with three main languages of Vietnamese, English and Chinese will be used.
Holding 30 per cent of the nationwide brokerage market share with 18 years of experience in estate distribution, more than 50 member companies, over 1,000 affiliated trading floors, 7,000 sales staff and nearly 100,000 collaborators, Dat Xanh Services distributes some 130,000 products from 500 projects of 200 major investors. This will also be a plentiful source of products for Dat Xanh International to offer to international customers.
The launch of Dat Xanh International adds value to Dat Xanh Services’ real estate service ecosystem chain and maintain its position asViet Nam’s leading real estate service provider.