Working through the Downturn; Developing Cost Eff ective Buildings, Structural Integrity & Understanding Vietnam’s Building Regulations

Khaw Aik Heng, the Project Director for Apave in Vietnam and Southeast Asia, explains that foreign investors need not worry about the security of their investment, when funding Vietnamese real estate market. What investors need to do, is gain a proper understanding of the market.

“The financial system is different. The construction industry and property development involves money, payment and big infusion of cash in very short amount of time. In general, it is more difficult here in that aspect. For example, cheques are not commonly used as a payment instrument, so payment is done by depositing into accounts. So if I make payment to you, I have to go to the bank and withdraw from my account and deposit into your account. However in Kuala Lumpur, we use a lot of cheques. It makes small contracts easier to arrange.

However despite these obstacles, Khaw believes that the growth in tall buildings in Vietnam should be healthy in the next decade.

“If you look forward 10 years there will be a need for tall buildings due to population growth. Of course in the short term you may face hiccups, like financial crisis and bottleneck. People have overbuilt office buildings for example. But if you look at a 10 year time span, all those will be taken up for sure because more supermarkets, hospitals, schools and other buildings are needed. In the overview, I believe good property is still very much in demand. A good developer needs to come in with a good scheme, a good idea and good plan for a long term. I believe there are still a lot of opportunities to develop township, mixed development and stuff like that. Construction and property are very interesting fields. It is high risk, but it is work that needs to be done.”

What Your Industry Peers Have Said about Our Tall Buildings Conferences:

Presentations from famous design consultants and foreign contractors on new technical innovations and experiences as well as the identification of the lack of experience in the local industry and the need to change that was very good.

Truong Minh Tri, Deputy General Director, DAVIS LANGDON & SEAH, VIETNAM

The topics have been useful and interesting.

Tan Boon Thor, Vice-President, CAPITALAND VIETNAM HOLDING

Excellent overall information on current trends, thoughts and considerations.

Liew Kee Weng, Project Director, PT JAKARTA LAND

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