Avison Young enters Vietnam's real estate market

September 22, 2023 | 12:06
(0) user say
The global real estate company Avison Young is expanding its Asia-Pacific reach into the Southeast Asian market by recruiting 100 industry experts in Ho Chi Minh City and Hanoi.

The Toronto-based Avison Young announced its expansion into the Vietnamese market on September 20 through a strategic affiliation agreement with the Ho Chi Minh City- and Hanoi-based D&P Company.

The commercial real estate company is establishing a presence in Southeast Asia for the first time. Its services include valuations and advice, industrial and office leasing, as well as property and asset management.

Avison Young enters Vietnam's real estate market
The offices in Hanoi and Ho Chi Minh City will be led by David Jackson (right) and Peter Dinning (left), who will be joining as principals, with Jackson taking on the role of CEO and Dinning acting as chairman

Mark E. Rose, chairman and CEO of Avison Young, said that, with the fast growth in Vietnam, the company is incredibly excited to expand the Avison Young network into the Asia-Pacific real estate market through this affiliation with D&P.

“Vietnam's robust economy and dynamic real estate sector offer tremendous opportunities for us to deliver innovative solutions to our clients. We are confident that David's and Peter’s leadership and expertise will be instrumental in establishing and growing our presence in this market,” said Rose.

David Jackson, principal and CEO of Avison Young Vietnam said, "The opportunity to lead this newly affiliated office in Vietnam for a dynamic, tech-forward, and deeply experienced global real estate company such as Avison Young is very exciting."

Both have in-depth knowledge of the Vietnamese market and more than 20 years of experience as managing directors of real estate companies in Southeast Asia.

“Together with our experienced team, we look forward to adding real economic, social, and environmental value to the Southeast Asian market,” Jackson said.

Vietnam, with its fast-paced real estate market, has seen significant socioeconomic growth in the past decades. Its young population and tech-savvy workforce encourage innovation and rapid urbanisation.

The affiliation agreement is a strategic step in Avison Young's global expansion. By leveraging its global intelligence platforms and working with local industry experts, the company aims to build lasting partnerships with clients and contribute to the sustainable development of communities in Vietnam.

Real estate market urged to take heed from China Real estate market urged to take heed from China

Although Vietnam’s real estate difficulties have not yet subsided, analysts believe it should avoid the most negative effects of property struggles stemming from China.

Vietnam real estate market wide open for investors Vietnam real estate market wide open for investors

The Vietnamese real estate market is beginning to see green shoots of recovery. Marc Townsend, senior advisor at Arcadia Consulting Vietnam, who has more than 25 years of experience in the local real estate market, spoke exclusively with VIR’s Bich Ngoc about his assessment of foreign investors’ sentiment towards the Vietnamese market.

Real estate rebound anticipated Real estate rebound anticipated

Real estate developers are scaling up efforts to bolster sales in a bid to offset the shortfall earlier in the year.

By Bich Ngoc

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional