Prolonged success from prime quality
Prolonged success from prime quality
On November 21, Hongkong Land, Chan Hung Investment Development Co., Ltd. under the management of Vietnam Father Land Front and Manolis & Company Asia Ltd. are celebrating the 20th anniversary of 63 Ly Thai To building – one of the first Grade A office buildings in Hanoi. VIR’s Bich Ngoc talked with Cao Thi Ly Anh, general director of Doan Ket International Limited, the joint venture operating this building, on how they have maintained its market-leading quality for the past 20 years.
As one of the first Grade A buildings developed and put into operation in Hanoi, what are the strengths and advantages of the building?
63 Ly Thai To complements an area of great architectural character at the heart of Hanoi, right across from the Hanoi Opera House. The eight-storey development leverages its excellent location in a number of ways. The presence of major fixed-line network service providers allows fast connection to new telecommunications services and enhanced TV systems. There is total flexibility on layout, which allows for new business solutions. And this world-class commercial property benefits from top quality management.
Completed in 1998, 63 Ly Thai To features a high-quality finish and intelligent design which reflects the highest modern international standards. Because of Hongkong Land’s long-term approach to tenant relationships we have consistently enjoyed high occupancy rates, with tenants including banking institutions and multinational corporations such as the World Bank, IFC, IMF, Mizuho Bank, New Zealand Embassy, Nishimura & Asahi, and luxury brands Prada and Canali.
63 Ly Thai To has many advantages, including its prime location, quality construction, and professional property management by Hongkong Land, which has 129 years of experience in managing prime international properties and whose detail-oriented approach aims to satisfy the requirements of even the most discerning clients.
The building has several long-term tenants, some of whom have been with you since the very beginning. How does the company inspire such loyalty in tenants?
In our long leasing history, Mizuho Bank was our first tenant, beginning in 1998, and is still an anchor tenant after several space expansions in the building over the years.
Tenants have been staying with us because they trust Hongkong Land and believe they are getting the best service. Every year, during good times and bad, we have re-invested in the building to keep it modern, efficient and at the level our customers expect.
To help us understand better how we can continue to provide service excellence, we commissioned an online customer survey from Acorn Marketing & Research Consultants, an independent and global market research organisation. The results were overwhelmingly positive, with 94 per cent of tenants assessing the overall performance of property management services as “very good” or “excellent,” while 6 per cent responded that it is “good.”
We received compliments from tenants on our service-oriented and well-trained staff, who provide excellent customer service and exceed customers’ expectations. We are proud to have many long-term staff members, who have been working with us since day one.
As a long-term investor in the office leasing segment, have you got any advice for new investors, especially foreign investors who are looking for opportunities to invest in this segment in Vietnam?
Finding the right time, the right partner, and the right place are the most important factors in real estate investment. Vietnam is an integral part of Hongkong Land’s business. As the country’s economy continues to see brighter prospects, it is becoming increasingly integrated into Southeast Asia where our footprint continues to grow. Recently, Hongkong Land has been expanding its business activities in Ho Chi Minh City. We believe the Vietnamese property market will continue to offer significant opportunities for owners, and attract international tenants growing their businesses and operations.
