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Southern property firms keep heads above water
Several Ho Chi Minh City firms have withstood property market current plight due to a flexible approach.
In the recent past, some property developers have promoted their projects with specific pavilions presenting and showcasing realty products in big shopping venues like Coop Mart, Big C supermarkets and Diamond Plaza.
The move was taken by Ho Chi Minh City based property developer Tac Dat Tac Vang Company to make the public become known about projects and latest property market movements in southern Binh Duong province.
“As difficult times remain, firms need to mull ways to effectively promote their products instead of making nothing just to wait buyers,” said the company’s general director Hoang Anh Tuan.
“Initial results show that this way of marketing helps save expenses while generating high efficiency,” said Tuan, citing that each day an average 200-300 customers visit the pavilion and show interest in the projects. Many of them have inked purchase contracts.
In the recent past, road users in the city’s Tan Binh, Tan Phu district and nearby areas were given leaflets presenting property projects of Hung Thinh Real Estate Trading Investment.
“These leaflets help us reach real homebuyers in a practical manner,” said Hung Thinh’s deputy general director Nguyen Duy Minh.
Minh said before taking the move the company had made thorough market survey and it targeted homebuyers with real demands for housing.
“Whatever the method of promotion will be good price, convenient location and especially nearly completion remain most important factors,” said Minh.
This promotion has been effective. Several hundred customers joined the company’s recent launching of The Harmona project in Tan Binh district and many of them came to purchase decisions.
Besides The Harmona, the company’s other projects like Au Co Tower and that on Nguyen Chi Thanh Street reported healthy sales figures.
Amid a hostile business climate, some developers have teamed up to foster strength. Thu Duc Housing Development Corporation (TDH) is one such example.
TDH recently shook hands with three big players Phuoc Long Investment, Phong Phu Joint Stock Corporation and Vinatex Land to carry out a project on building Phuoc Long trade centre in District 9. This 3.7ha compound consists of arrays of semi-detached housings, a shopping mall and an apartment block.
Earlier, TDH tied out with Vinatex Land to conduct two property projects with around VND1.7 trillion ($81 million) total investment on building TDH-Phuc Thinh Duc residential block in District 9 and Aquila Plaza serviced apartment-trade centre complex in Thu Duc district.
TDH chairman Le Chi Hieu assumed firms shaking hands with each other to boost strength would be robust in the coming period in the back of continuing market difficulties
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