Vingroup crowned most reputable real estate developer in Vietnam

Construction News Vietnam

Vingroup crowned most reputable real estate developer in Vietnam

Rankings announced on Tuesday by an independent Vietnamese evaluation company placed Vingroup at the top of the ten most reputable real estate developers in Vietnam in 2016.

The rankings were prepared by Vietnam Report based on results which the firm said are independent, scientific, and objective studies of real estate businesses operating in Vietnam.

The companies are evaluated on such criteria as financial capability on the basis of the most recent audited financial statements, media reputation, quantity and implementation schedules of projects, the rate of successful transactions, the projects’ selling price, among others.

Vietnam Report is one of the leading and most credible report and ranking companies in Vietnam which publishes annual and regular reports and rankings on companies operating in Vietnam across different fields of business.

Other real estate companies that made it to Vietnam Report’s list include Novaland, Him Lam, Hoa Phat, Phu My Hung, and others.

Vingroup was founded in 1993 by a group of Vietnamese youths in Ukraine under the name of Technocom, which was mainly involved in the food production industry.

After earning its way as one of the largest and most influential companies in Ukraine by the early 21st century, Technocom looked to Vietnam to expand its business in real estate and hospitality with the initial key brands of Vincom and Vinpearl.

The two brands merged into Vingroup JSC in 2012, which has since developed into one of the most dynamic, successful, and well-capitalized companies in Vietnam.

Vingroup is the developer of a series of major projects in Vietnam, such as urban areas Times City, Royal City, Vinhomes Riverside, and Vinhomes Gardenia in Hanoi; Vinhomes Central Park in Ho Chi Minh City; Vinhomes Dragon Bay in the northeastern Vietnamese province of Quang Ninh; and numerous department stores and shophouses across the country.

Prior to topping Vietnam Report’s rankings, Vingroup had consistently been assessed by experts and the market as the leading real estate developer in Vietnam, as indicated in other credible rankings and awards.

Vingroup’s Vinhomes was the only real estate brand to be named one of the ten most valuable of Vietnam by the world’s leading intangible asset valuation company Brand Finance in October 2015.

The group was also named Best Investor in Vietnam, Best Investor of Complex Projects in Vietnam, and Best Investor of Resort and Tourism Projects in Vietnam in September 2015 by Euromoney, one of Europe’s largest business and finance publishers.

Three urban areas developed by Vingroup were voted the “Best urban areas to live in Vietnam” in 2015 by the public and local business newspaper Dau Tu (Investment).