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Property

SonKim Land & Samsung partner in smart homes

Released at: 13:08, 28/01/2019

SonKim Land & Samsung partner in smart homes

Photo: SonKim Land

Two enter into strategic cooperation to introduce smart home models in Vietnam.

by Hong Nhung

Vietnamese real estate developer the SonKim Land Corporation and Samsung Electronics Vietnam announced a strategic partnership on January 25 to take the customer experience to a new level.

SonKim Land is one of the leading real estate developers in Vietnam’s luxury real estate segment, while Samsung Electronics Vietnam is the Vietnamese subsidiary of Samsung Electronics, the world’s number one brand in home appliances and digital devices.

Smart homes are a global trend these days and a range of IT services are used by developers to provide various products and services. The smart home market remains quite new in Vietnam and only a few projects in the luxury market use smart home systems. But these are still rather simple and technologically behind those used in other countries.

The partnership between the two leading companies is expected to raise the bar in terms of quality luxury apartments. SonKim Land and Samsung Electronics will cooperate and co-develop smart solutions to make SonKim Land’s homes smart by linking various cutting-edge technology products from Samsung Electronics. The cooperation will also include Internet of Things (IoT) solutions.

Both companies have agreed to apply Samsung’s system at SonKim Land’s The Metropole Thu Thiem project and Samsung will give priority to SonKim Land in supplying the latest smart home solutions and products in Vietnam.

Samsung’s partnership with SonKim Land signals a new and creative step in both the home appliance and real estate businesses in Vietnam. The cooperation between the two creates a lot of synergy to serve customers to a higher level of satisfaction.

“We are grateful to have Samsung Electronics Vietnam as a long-term partner,” said Mr. Andy Han Suk Jung, CEO of SonKim Land. “We have great pride in our real estate products and Samsung’s home appliances and solutions are the perfect match for our apartments. Customer satisfaction will definitely come from this strong and solid strategic partnership.”

2018 was a very good year for both SonKim Land and Samsung Electronics Vietnam, as both found great success in their business performance. This cooperation is a milestone for Vietnam’s business environment in the opening days of 2019.

Revenue in Vietnam’s smart home market will amount to $83 million in 2019, according to global market researcher Statista. Revenue is expected to show a compound annual growth rate (CAGR) of 51.7 per cent in 2019-2023, resulting in a market volume of $437 million by 2023. Household penetration in Vietnam is to be 1.2 per cent in 2019 and hit 7.8 per cent by 2023.

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