CEO VNGroup Vu Van Thanh: Real estate investment must understand the law and comply with the law

VNGroup is a corporation that owns a closed ecosystem that supports large real estate transactions. Mr. Vu Van Thanh - General Director of VNGroup Corporation shared many passionate things in the journey of building an ecosystem including: Real Estate Trading Floor, Law Office, Valuation Company, Notary Office with reporters of Construction Newspaper on the occasion of the 15th anniversary of VNGroup's establishment.

Before knowing VNGroup with its prestigious real estate brand and different business style due to the ecosystem that no other company owns in Vietnam. So what opportunity made you change direction to develop such an ecosystem?

– After graduating from the University of Law, I realized the difficulty in applying for a job in the State agencies, so I decided to start a business from a law consulting office and a tutoring office. During the legal consulting process, the most consulting documents were about real estate, many customers buying and selling and transferring did not understand the process, so disputes arose. I think I entered the brokerage profession because the customers showed me the way.

Was the background you gained through your legal knowledge an important stepping stone for you to enter the real estate brokerage profession?

– I am a lawyer, so I advise clients from the perspective of a lawmaker to create peace of mind when buying and selling transactions. Because of that factor, I personally and VNGroup have gained a lot of trust from customers over the past years. During the past time, in addition to the closed ecosystem of law, notarization, valuation, and marketing, VNGroup has participated as an investor in real estate projects since 2009. After 15 years of efforts, we have now been present in most of the projects.

15 years of operation through 3 real estate market crises, but thanks to the service ecosystem accompanying the classic business motto of short-term support for long-term, VNGroup is less affected by market fluctuations due to objective factors and we are like a hard-working bee gradually penetrating into large investment segments and finding new markets.

Thanks to owning a typical closed ecosystem such as VNG Vietnam Valuation Company Limited under VNGroup, up to now, the valuation company is a partner of many large banking systems and many equitized enterprises.

In addition, we are determined to change the mindset of using closed services in real estate transactions: Before the transaction, customers must consult the valuation service, both parties must agree to use the law office service to ensure their rights and interests, then customers go to the notary office to establish a sale and transfer contract, if the above steps and procedures are followed, customers will feel secure and the State will be able to manage the transactions. Through studying the real estate transaction process of the US, Singapore and some other countries, the first factor they do is methodical and transparent while Vietnam has not done this. Therefore, we want to change the mindset of customers, so that they can feel secure when buying real estate products with effective support from consulting companies and professional consultants. Currently, the team of well-trained brokers with very good knowledge is a "control and advisory board" for customers when buying large assets, to avoid legal risks.

Which are the most successful projects that have left their mark in VNGroup's distribution process, sir?

– The projects that gave me the most emotions and deepest impressions are V-Green City Pho Noi (Hung Yen), Cocobay project, Vinhome Ha Nam project, Cam An – Hoi An project… These are the projects that during the process of contacting investors, we received interaction and support for mutual development between investors and brokers. VNGLand is a brand associated with resort projects, the main goal is to pursue the marine environment and exploit the natural beauty inherent in the country. Coastal resorts not only bring good values, but thanks to increasingly open policies, they have attracted many foreign investment sources to vibrant markets such as Da Nang , Nha Trang, Mui Ne…

When switching to become an investor, VNGroup's main product line is beach resort real estate. Could you please share some information about these projects?

– Closing 15 years of construction and development, 2018 is the year VNGroup is determined to become a professional investor in which resort products are aimed at investors with our motto: go to places where no one has been and do what few people do. To create sustainable added value in the investment process, capital cost and location are two important factors for us to make decisions, the next factor is that the project's legal documents must be complete before being implemented.

From steady steps, with remarkable and proud achievements, what is the goal that VNGroup is aiming for in the coming time?

– From 2019, VNGroup will allocate 70% of its market share to project investment, the remaining 30% will participate in the distribution role. In addition, we will participate in 3 startup floors in Ho Chi Minh City and 1 floor in Hanoi , including real estate startup ideas applying new technology suitable for market trends and a roadmap for building and perfecting governance standards so that we can move towards a public company. Participating as an investor with enough projects to deploy by 2022. VNGroup's strategy is to take care of products with local identity and distinction, not mass-produced or following the crowd. The products and projects we build and develop are all associated with stories.

Goldsand Hill Villa Mui Ne residential project invested by VNGroup in Binh Thuan is about to launch on the market.

VNGroup's human resource management and development perspective?

– Next month, VNGroup will launch a subsidiary company specializing in real estate for foreigners, and foreign real estate for Vietnamese people, in which human resource strategy is a point that VNGroup focuses on to screen and find suitable people for the next 10 years.

In the integration process, how does VNGroup catch up with international cooperation trends?

– Thanks to VNGroup’s clear “ecosystem”, in which the Law Office is a plus point for foreign investors to always trust and place their trust in VNGroup. In recent times, VNGroup has signed cooperation agreements with a number of foreign funds and investors to develop together and exploit each other’s advantages.

Effective working space at TIKTAK CO WORKING SPACE invested and operated by VNGroup.

It is known that you are building and implementing a real estate startup program for young people?

– VNGroup believes in the saying “Start a business once in your life” in Vietnam, young people who start a business are often spontaneous, so the failure rate is high because they think they can do anything. VNGroup will solve everything to help those who are passionate about real estate come to Tiktak Co-working space.

Thank you very much!

Source: http://www.baoxaydung.com.vn/news/vn/bat-dong-san/ceo-vngroup-vu-van-thanh-dau-tu-bds-phai-hieu-luat-va-lam-dung-luat.html