Druce - a real estate business from the UK with 200 years of experience - has just announced that it will "export" Vietnamese real estate to the Middle East and Europe. The first project selected for global distribution by this unit is Grand Marina Saigon - the world's largest luxury real estate of Marriott International.
Why did Druce choose Grand Marina Saigon as the first product in its business expansion plan?
Vietnam is on its way to becoming the "new Asian tiger", with a boom in the real estate market and the super-rich class. However, since this is a completely new market for Druce, we need to ensure that the products distributed are of the highest quality, through which Vietnam will also be known and recognized by the world for products that meet international standards. economic.
200 years of experience in super-luxury real estate distribution helps us to summarize 3 criteria to evaluate the potential of a product: that is location, product quality and finally service - utility when the project is completed. come into operation. Grand Marina Saigon has all the necessary elements to become a potential product, and therefore has become the first product in Vietnam to be selected by Druce for distribution.
Mr. Robert Barlett, CEO of Druce Global at the signing ceremony with Masterise Group to distribute Vietnamese real estate globally
“Strategic location: Economic locomotive heart of the new Asian tiger”
Can you share more specifically how these 3 standards are expressed at Grand Marina Saigon?
The first is location. Druce's strength is a super luxury product in the city center (prime property), so when we came to Vietnam, we focused on researching projects in this segment.
Perhaps readers in Vietnam understand more than we do about the value of Grand Marina Saigon's location. Looking at a project located in the central core of District 1, bordering the Saigon River, possessing a beautiful view towards the green area of the Zoo and Botanical Garden and the city center - there is no doubt that this is a " golden coordinates”. In addition, this is also a project with ideal connection by both road, Metro line with Ba Son station right at the foot of the project and waterway with the only marina in District 1.
However, from the perspective of foreign investors, from the above points we also see the potential for price increase. Real estate in the city center has never ceased to attract global investors. The latest Knight Frank report also reflects this trend as it shows that luxury real estate in the city center increased by 8.4%, the highest level since 2008. Or when we look at the area, we see owners. The owner of a branded apartment in the heart of Bangkok can sell his apartment for 80% more than an unbranded project in the vicinity at the time of launch. Lessons from the developed market open up many new opportunities for real estate in Vietnam in general and Grand Marina, Ho Chi Minh City in particular.
The newly published report of Knight Frank shows the attraction of super luxury real estate in the city center
Marriott brand guarantee – Attracting global investors
The other two criteria are “quality” and “service”. But with a project not yet formed, on what basis does Druce believe in the potential of Grand Marina Saigon in the future?
That's thanks to the power of brands in real estate. For example, it is not unusual for American real estate investors to spend up to 31 million USD to buy a luxury penthouse even though the price has doubled compared to 4 months ago. Druce has repeatedly made deals of tens of millions of dollars, although investors have never been to the country to develop that project. But because they know that the quality of the project will be guaranteed by the famous brands associated with the project, they do not hesitate to invest.
This is also the basis for us to firmly believe that Grand Marina Saigon is no exception with the endorsement of two brands JW Marriott and Marriott. The quality of these apartments in the future - from design, to interior finishing, will have to meet the standards of Marriott worldwide. Specifically, 100% of the interior of Grand Marina, Saigon comes from Italy, and is completed by skilled artisans from Italian Fit Out company. With service, the project management and operation team are professional Marriott employees, with a minimum of 150 hours of training per year, with excellent levels of customer service and knowledgable style. living. In addition, it is impossible to ignore an unprecedented system of high-class facilities such as a privileged cinema, boardroom, library, lounge, gym with modern equipment, etc., which are operated according to Marriott's standards. Global.
Classic and luxurious space of cigar lounge inside the JW Marriott branded penthouse at Grand Marina Saigon project
How do you think the taste of property ownership of the super-rich has changed recently? Is this a challenge or an opportunity for real estate companies from Vietnam to enter the international market?
Customers now tend to protect their assets against market fluctuations. They are more cautious in building their portfolio, turning to safe investments or private assets. Branded real estate has always been the first choice thanks to its enduring resilience, when continuously increasing prices even through the economic crisis and pandemic. Dollar millionaires are also diversifying away from regional markets.
We've also seen a shift in the wealth habits of the global super-rich – they're moving towards higher standards of privacy and personalized services. It is also the value that makes the difference that Masterise Homes quickly grasps to promptly include in its project. Faced with the need to find a community with similar mindsets, lifestyles and connections, and invest in an asset that is constantly increasing in value and affirming its class over time, I believe international investors will can't miss Grand Marina, Saigon.