return icon

Property developers hire foreign management companies to optimize profit

VietNamNet Bridge - Most high-end resorts in Vietnam are managed by leading asset management companies from the US, Europe or Asia.

VietNamNet Bridge - Most high-end resorts in Vietnam are managed by leading asset management companies from the US, Europe or Asia.


Many of the contracts for hotel, resort and high-end real estate project management are with foreign asset management companies.

In late November 2016, Hoa Anh Dao Tourism Company and Beegreen JSC, the co-owners of Dream Oceanami Villas & Spa project, signed a contract with Dream Hotel Group.

The foreign group defeated other rivals to obtain the right to manage the high-end resort which faces the East Sea and backs the Minh Dam Mountain. 

Most high-end resorts in Vietnam are managed by leading asset management companies from the US, Europe or Asia.

The project comprises 347 beachfront villas located in Dat Do district of Ba Ria – Vung Tau province, expected to open in the second quarter of 2017.

Nguyen Kim Son, CEO of Beegreen, said the property management company from the US successfully persuaded the investor with not only its global experience, but also with transparent finance reports. It also showed a clear strategy on training hotel services to local workers to ensure sustainable development.

In late October 2016, Nha Hoa Binh JSC announced cooperation with Okamura Home and Sanyo Homes Group, under which the two Japanese partners would manage The Ascent, the first high-end apartment project developed by Nha Hoa Binh’s subsidiary. 

Prior to that, the high-end resort market in Phu Quoc Island welcomed some management companies from Europe. 

Sun Group, a Vietnamese real estate developer, signed a contract on strategic cooperation with Accor Hotels on the French group’s management over its chain of resorts and hotels. 

The projects covered by the contract include The Sebel Phu Quoc, Premier Village Phu Quoc Resort and some hotels in Da Nang City and Sa Pa.

Accor Hotels now manages Sun Group’s hotels in the central region, namely Novotel Premier Han River and Premier Village Danang Resort.

In 2015, M.I.K Corporation signed a cooperation contract with Meliã Hotels International – MHI from Spain on the management of the 4-star resort Sol Beach House Phu Quoc. 

In the same year, the contract on the management of Crowne Plaza Phu Quoc Starbay, a 5-star hotel developed by the corporation, was signed with the InterContinental Hotels Group (IHG).

In HCM City, Khang Dien Company, the investor of the street-front ready-built houses located along highways and beltways in district 9, has chosen CBRE as the management unit.

Trang Minh Ha, lecturer of IABM, said that it was a wise move taken by Vietnamese real estate developers to hire international asset management companies. 

There were several reasons for them to make such a decision. First, the management companies’ fame would help improve investors’ brands. Second, the companies, with global marketing networks, have advantages in accessing clients. Third, they have high professionalism and discipline.

related news

Thanh Mai


Carbon market to help achieve net zero emissions

Greenhouse gas emissions in Vietnam increased rapidly over the past three decades in direct proportion to the economy’s growth.


Buckwheat Flower Festival returns to Ha Giang in November

Vietnam welcomes 1.87 million foreign visitors in nine months

Vietnam welcomed about 1.87 million international arrivals in the first nine months of this year, 16.4 times higher than the same period last year but much lower than that in the same time in 2019 before COVID-19 broke out.

Close to 123,000 sea turtles released back to sea

The Con Dao National Park in the southern province of Ba Ria-Vung Tau released 122,867 baby turtles into the ocean between January and September.

Vietnamese, Danish friendship blossoms over the years

Many foreigners have enjoyed diverse landscapes, authentic local food, endless love, eternal friendship, and a favourable investment environment in Vietnam.

China imports less glutinous rice from Vietnam

The proportion of glutinous rice in total rice exports to China has fallen from 74 percent to 48 percent.

Vietnamese artists to appear in Norwegian play

Several talented local artists from the Vietnam Youth Theater have been invited to perform in 'Hedda Gabler', a classic play which is considered to be one of the outstanding works of Norwegian writer Henrik Ibsen.

Minor improvements seen in the transparency of provincial budgets

The average ranking of budget transparency for localities in 2021 was 69.53 points out of 100, a rise of just 0.44 points compared to 2020.

Pianist Nguyen Dang Quang returns home for concert of classical music

Piano player Nguyen Dang Quang, son of composer Quoc Trung and renowned artist Thanh Lam, is a fresh and promising presence at the event.

VN central bank acts to tighten the Vietnamese dong liquidity

A recent money market report of Saigon Securities Incorporation (SSI) showed the SBV last week net withdrew a total of VND34.6 trillion through the OMO channel.

Vietnam needs to improve human resources in digital age: World Bank

To reach the goal of becoming a high-income country by 2045, Vietnam needs to quickly improve the quality and quantity of its human resources.

Vietnam’s GDP rises by 13.67% in third quarter: statistics office

Vietnam’s gross domestic product (GDP) grew by 13.67% in the third quarter, according to the General Statistics Office (GSO).

Ministry of Culture demands strict supervision of beauty contests

Culture, Sports, and Tourism Minister Nguyen Van Hung has signed a directive strengthening state supervision of a variety of cultural and artistic activities, including beauty pageants and modelling contests.


Vietnam to become “new Asian tiger”: Italian journal

Vietnam to become the worlds chip production center

In the first eight months of this year, phones and electronic components have the most prominent export turnover in our country, reaching nearly 40 billion USD.