Foreign firms selected to manage real estate projects of Sun Group, FLC and Vimefulland

On October 18, the real estate developer Sun Group signed the memoranda of understanding on the cooperation agreement with Jones Lang LaSalle Incorporated (JLL), an internationally renowned management brand, on the involvement of JLL in the consultancy and management of Sun Group’s real estate chain.

JLL will provide personnel to manage the high-end Sun Grand City Thuy Khue Residence and Sun Plaza Thuy Khue commercial center. It will also represent Sun Group to hand over apartments and trading premises in these two projects to customers.

Sun Plaza Thuy Khue commercial center is expected to be launched at the beginning of the second quarter of 2018 with the participation of such A-class brands as CGV Cinemas, Hai Cang restaurant.

Meanwhile, FLC Land, which was merged into the real estate developer FLC Group from June 2012, has chosen CBRE Group, Inc. (CBRE), the world’s largest commercial real estate services and investment firm, to be the operator and manager of the FLC Twin Towers located at No. 265, Cau Giay street.

The FLC Twin Towers including a 38-storey office tower, a 50-storey apartment tower, a four-storey basement and a five-storey block used for commercial services center is expected to go into operation in July 2018.

Also, Vimefulland, a Vimedimex Pharma Group’s real estate trademark, has appointed Savills, one of the world's largest real estate firms, the manager of its two projects namely Belleville Hanoi and The Emerald. Belleville Hanoi located in Nam Trung Yen urban area includes 66 shophouses. Savills will officially manage Belleville Hanoi from October 2017. The Emerald is a complex of 1,344 high-end apartments with two 30-storey towers located in the heart of My Dinh new urban area in Nam Tu Liem district, Hanoi. The Emerald is expected to be handed over to customers in 2019.

The Emerald will be operated by Savills in 2019.

In other countries, real estate management is a closed loop system, including system and personnel management, operations, financial planning, maintenance, marketing risk management, selling and leasing.

Meanwhile, in Vietnam, due to business habits and the limited level of market development, real estate management units mainly provide such services as utilities, maintenance, hygiene and security for apartments, new urban areas, rental offices and business centers.

Some investors usually choose large branded management companies in the world to enhance their project's image in order to improve sales effectiveness.