Beta Group and Alphanam Group sign strategic cooperation deal

April 24, 2021 | 15:31

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Beta Group and Alphanam Group have signed a strategic cooperation agreement this month to mark the cooperation between the two parties in the serviced apartment sector in Vietnam.

Under this agreement, the two parties are committed to cooperate and maximise the capacity of each party for the development of optimal serviced apartment chain projects to provide a quality and affordable living space appropriate for young people, as well as opening up potential investment opportunities between Alphanam Group and A.Plus Home.

A.Plus Home is the optimal serviced apartment chain developed under the first PlusLiving model in Southeast Asia – a modern lifestyle with a fully equipped private apartment. Within the context of a gradual economic recovery after the COVID-19 epidemic with many positive signals for the real estate market, this cooperation agreement is a milestone marking a good start for A.Plus Home, laying a strong foundation for the development of business in the near future.

After a year of delays due to COVID-19 outbreaks, a new wave of serviced apartments is expected to explode. In the previous year, about 45 per cent of new serviced apartment supply entered the market. It is predicted that by 2022, more than 50,000 Grade A and B apartments will be handed over, in which the rental capacity is up to 30 per cent. It can be seen that the potential for serviced apartments development in the Vietnamese market is huge.

On the other hand, according to a CBRE survey in 2020, young Vietnamese are struggling to find a quality apartment at an affordable cost, leading to consequences: 60 per cent of young people have unsanitary and unsafe conditions; 90 per cent of apartments for rent are low quality compared to the rent cost; the lack of quality value-added services. Vietnamese young people are in desperate need of a reliable and quality housing solution to freely pursue their passions and develop themselves.

Stemming from that concern and realising the market potential, Bui Quang Minh (also known as Minh Beta), general director of Beta Group, the owner of A.Plus Home's optimal serviced apartment chain, launched the project of an optimal service apartment chain at a reasonable cost called A.Plus Home, marking the entry into the real estate sector of Beta Group.