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Vietnam up with global proptech trend

Released at: 14:03, 27/05/2019

Vietnam up with global proptech trend

Photo: Savills Vietnam

Savills report notes that Vietnam has stayed abreast of trends in property technology.

by Ngoc Lan

Vietnam has quickly adopted smart technology and promptly caught up with the rest of the world, so is no out of the global proptech (property technology) trend, according to a Savills report released on May 27.

The report noted that proptech refers to technology aimed at the real estate industry and attempts to change the way we buy, sell, finance, and manage property.

In Vietnam, smart technology is applied to various aspects of the property market, from mobile apps for sales purpose to integrating smart technology to developments in both public areas and privately occupier spaces (apartment / retail). Even property managers are gradually employing smart technology for effective project management and operations.

At the forefront of this megatrend, Savills Vietnam has dedicated an experienced team to develop the Savills Property Management Solution (SPMS), an official and direct communications channel between developer, residents, and tenants.

The mobile app offers an immediate and personalized response to requests and demands via an automated system. Providing a clear passage of communication between residents and property managers, SPMS also enables residents to process bills and book building amenities with a few simple clicks.

Ms. Tran Minh Ai, Director of Property Management at Savills HCMC, said Savills Vietnam’s large and expanding management portfolio required additional time and resources to provide effective management practices. “With that in mind, we developed SPMS to provide property developers, managers, residents, and tenants with a direct, clear and transparent communications channel,” she said. “SPMS stores historical data from all projects, of which technical requests and feedback from residents can help property developers and managers improve project management and operations over time.”

Launched in March, SPMS has been integrated into projects managed by Savills Vietnam in Ho Chi Minh City, Hanoi, and Da Nang. The app will be updated regularly with new features to make all operational process more convenient and streamlined.

Savills cited data from a local report by KPMG and the Taronga Group’s investment arm Real Tech Ventures, which stated that investment into proptech companies will reach $20 billion by 2020. The report also identified urban planning, design and construction, search, sale and acquisition, leasing and management, data analytics, and sustainability as the areas most likely to rapidly innovate and attract capital investment.

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