New statement for new journey

Tuesday, 15 December, 2020
Forbes - SonKim Land marks an outstanding transformation in our business strategy, expands the customer segment with large-scale projects but still commits the 'SonKim Land Signature'. Mr. Andy Han Suk Jung, CEO of SonKim Land Company, said that the spirit of 'Different from the ground up' will continue to be reflected in the upcoming projects.
 
The Opera Residence was officially launched to the market in early October
 
2020 seems to be a hard year for any company, SonKim Land still manages to sail through it. What is your experience and what SonKim Land has done that makes you most proud of?

MR. ANDY HAN SUK JUNG: In the three recent crises I have seen, I have found that the crisis creates opportunities for businesses to grow better but also makes some companies go bad and go bankrupt. However, most good companies are more developed, they own properties in prime locations, with good financial resources, core human resources and most importantly, keep a number of loyal customer.
For these companies, the real estate they own does not decrease in value. Real estate is having trouble developing to turn them into new sources of profit. Core human resources continue to work more efficiently and loyal customers also buy more products, which makes those companies grow even more before the crisis.
For the real estate market, we find that the demand in the market is still quite large, but the supply in all segments is limited. Therefore, projects that can launch in the market will be welcomed. Liquidity in the current market is very high, many investors find ways to put money into better profitable investments due to falling interest rates on term deposits and lack of operation as good as other developed countries.
Mr. Andy Han Suk Jung, CEO of SonKim Land
I am very confident and sure that if we can launch a project with a prime location, sophisticated design, unique lifestyle, and quality that is better than most other projects then we can attract many investors.
We have just had the launch event for phase 3 for The Metropole Thu Thiem, namely The Opera Residence on October 3rd. Before that, I had a decent amount of paid bookings from potential customers.  More than 1,000 people came. It was the first time the local bookings were more than 60%, and above 90% of the apartments reserved.
We had 500 apartment units and they were sold out at once too.  In the past, developers never released entire units at once.  No developer in the luxury segment managed to do sell all when they released all once, we did it twice. 
At this pandemic time, people are choosing to invest in safe and profitable products. Of course, there aren't many investment options that cover both of these two factors. Vietnamese real estate has become a good choice for many investors as they see opportunities in both stability and returns. More than 30% of foreign investors believe in the location of real estate as well as the reputation of the investor, and more than 60% are domestic investors who believe in the development potential of real estate. 
Compared with the very low bank interest rates and many domestic companies struggling in the stock market, the rapid recovery of the real estate market has persuaded many investors to turn to real estate investment, especially prime locations.
Besides, I am also very proud that SonKim Land received a number of great awards this year, such as HR Asia's Best Workplace 2020, four categories at the Asia Pacific Property Awards 2020 for The Crest Residence, phase 02 of The Metropole Thu Thiem project, and eight awards at the Vietnam Property Awards 2020.

 
For CSR activity, we started our long term project, 'Sustainable Village' phase 1, that we corporate with the International NGO Habitat in Vietnam, aiming to build a strong community in Hung Thanh Commune, Thap Muoi District, Dong Thap Province by empowering them to respond to natural disasters and climate change with stable housing, and they can access clean water and sanitation, and participate in awareness raising training. 
 
What have you learned in this particular year?

MR. ANDY HAN SUK JUNG: I think it makes me more certain of the fact that we need to still stick to the fundamentals. Meaning, when in the difficult situations we tend to cut cost because we are losing money, the overhead is high, revenue is stuck somewhere. You are forced to do something to make your living.  But if you are able to stick to fundamentals, like quality, loyal to your customers, and still try to be innovative as much as you can. I think these are very important values.  
Another lesson: There is always a way out. I was never scared of the pandemic because I know we have good locations. So if you are confident about what you believe, go for it.
 
Why SonKim Land announced the new brand identity this time and what the new logo means?
 
MR. ANDY HAN SUK JUNG: We have already proved the success with our unique path with the 'Luxury Boutique' model, or 'Limited Edition Residences', based on three basic elements: exclusive scale, prime location, and unique design. We preserve and promote the fundamental pillars that have contributed to making a difference, adhering to three core elements: Heritage, Art, and Lifestyle that nobody in the market is doing.
 
SonKim Land's new identity encompasses many internal factors
 
Vietnam and Saigon have a lot of heritage. We want to be a property developer that understands what Vietnam can offer, and yet we bring in some modernism with high tech from the outside world. The second is art. We want to be artistic. We want the art to be blended in our units, our design, details, and interiors. For example, you have seen in the Opera, in the lobby, we have a self-playing piano. We also want to build a nice small museum where residents can appreciate designs, artworks, paintings. The apartment is not just a simple place where you stay. We want it to be the place where you really feel happy, relaxed, something you can show off to your friends and family if you want to.
In addition to heritage and art, we want people living on our property to have different lifestyles. We create facilities that can create the lifestyle we want to offer, like a retail company, three-star Michelin restaurant, a Mediterranean restaurant, a premium Japanese restaurant, number 1 convenience store from Korea. These are all the brands that are under Son Kim that will create a lifestyle in our properties and make us different.  
 
I find it is the time to change, when we have already gained sufficient experience after SonKim Land’s nearly 30 years in the property market, we want residents in our projects to have a classy and different lifestyle by creating add-ons and services such as retail stores, the restaurant has a 3-star Michelin chef, a Mediterranean restaurant, or a high-class restaurant from Japan, the number one convenience store chain from Korea.
All the luxury brands under Son Kim's management will create a different lifestyle in our real estate projects.

SonKim Land developed a 7,6 ha project at the core of the new international financial center called The Metropole Thu Thiem, marking a step away from its luxury Boutique strategy. The total investment is nearly 2 billion dollars, way higher than the previous ones. So customers’ perception obviously has to be changed. To mark this milestone, SonKim Land decided to change its development strategy, through renewing the company’s brand identity into “SonKim Land Signature” which will be the guiding start for its future projects that will be on a bigger scale, with sophisticated design, strategic location.
With the new tagline Different From The Ground Up, that is the exact message we want to convey to the public. When we did the luxury segment, we were very different in the market from the ground up, we were very innovative. Our position this time is much different from what we used in the past. That is how we position ourselves, how I wanted our company to aim.  

 
The Metropole Thu Thiem marks a remarkable transformation of SonKim Land
 
So what the market can expect from SonKim Land in the near future?
 
MR. ANDY HAN SUK JUNG: We have proved that we can do the luxury market. I can proudly compete with the most prestigious developers, including foreign ones. I can say that because this is what I heard from the customers. At the end, how good you are, it must come from your customers. Once we have built a good brand, we will have loyal customers and whenever you go, they will try to follow you and look for another investment opportunity.  We are finishing our master plan with our project at District 9, with 7000 units in the medium segment. With the values that we have created, I believe that will be something to attract investors because we will bring our own value.   

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