After more than two years of operation and development, Dat Xanh Mien Tay Corporation (DXMT) has become a major real estate brand in Can Tho City in particular and the Mekong Delta in general. The company thus contributes significantly to local socioeconomic development, especially in real estate.
Vietnam Business Forum has an interview with Mr. Duong Quoc Thuy, CEO of DXMT Corporation, on this content and his thoughts on market opportunities in this difficult context of the COVID-19 epidemic.
What factors make DXMT successful?
DXMT was established on February 1, 2018 as a member company of Dat Xanh Group (DXG) - one of leading real estate investors and distributors in Vietnam. After more than two years of efforts, DXMT has achieved certain successes in developing the workforce to more than 600 employees in three member companies and transaction offices in Can Tho, An Giang, Tien Giang, HCM City and Dong Nai.
In particular, DXMT has affirmed its brand reputation and strengthened customer and investor trust in Can Tho City and in the Mekong Delta.
To achieve these successes, first of all, we always base on DXG’s core values: “Aspiration - Integrity - Professionalism - Humanity”. Rising up with the desire to conquer new lands of enterprising young people, we are determined to promote the strength of our employees to deliver true value to customers.
In addition, DXMT focuses on developing a corporate culture of distinctive identity built on humanity - a key appeal to attract talents and apply the best remuneration regimes in the Mekong Delta. DXMT builds a professional, modern and cohesive working environment, becomes a peaceful place to live and offers ample opportunities for young people to assert themselves.
Together with business development, social security is always the most important task for us. Therefore, within its capacity, DXMT always stands by local authorities to launch voluntary activities and improve community responsibility. In the past time, we have taken part in many community development programs like presenting gifts to poor students with good study records, building charity houses, supporting Can Tho City to deal with drought, salinity and the COVID-19 pandemic, joining hands with the poor to take action for a green environment.
Could you tell us about your investment and development strategy from now to 2025? Which business philosophy will you adopt to promote your brand?
With our well-established prestige and increasingly professional service quality, we have become a strategic partner of large real estate corporations and developed many residential and urban projects in Can Tho City and the Mekong Delta.
We outlined our strategic plans and goals with important milestones: Becoming one of five best real estate developers in the Southwest region by 2022 and the best real estate developer in the Southwest region by 2025.
We will focus on developing a variety of quality housing real estate products for different consumer demands in the Mekong Delta with a diversified business ecosystem consisting of Investment - Construction - Distribution and bring optimal investment and settlement solutions for customers.
Since inception, we have always adhered to the business principle “We build trust from building your house”; placing service quality and brand reputation on top; constantly modernizing human resources training and development processes; renovating business strategies, diversifying real estate product structures to meet increasing customer demands. This will also be a "guideline" for us to sustain in development in the coming time.
Bright opportunities for the real estate market
As the Vice Chairman of Can Tho City Real Estate Association, what do you think about the recovery of the real estate market of Can Tho and Mekong Delta amid the COVID-19 pandemic?
The COVID-19 pandemic has spread on a large scale and heavily affected all industries, including the real estate sector, especially small and medium-sized enterprises (SMEs) and startups.
The severity of the post-COVID-19 economy forces businesses to quickly adapt to new situations, retain good employees and strengthen strong financial potential to maintain business operations.
Of course, to ensure growth or just maintain operations, they largely depend on the market.
Compared to Hanoi City and Ho Chi Minh City, the absorption of the Can Tho real estate market is relatively stable. For example, in the first six months of 2020, real estate deals in the two largest cities equaled to 14% in the same period of 2019 but this figure was over 30% in the Mekong Delta. Entering the third quarter, the market looked up as transactions increased, reaching 70-80%. This showed that the property demand of Can Tho citizens was very high, especially in projects near commercial areas, schools, administrative centers and industrial parks.
Can Tho City, the capital of the Mekong Delta, attracts a large number of people in other provinces to live and work. Boosted by accelerated urbanization rate, it is certain that Can Tho real estate will still grow well in the coming time.
Moreover, real estate prices in the downtowns of Ho Chi Minh City and Hanoi are currently very expensive while the supply is becoming scarcer. This has stimulated people to move to satellite residences, including the Southwest.
So, for you, what are the opportunities for the real estate market in the Mekong Delta?
According to industry insiders and experts, the current real estate market of Can Tho has many opportunities to accelerate. First of all, infrastructure has been constantly developed. For example, Trung Luong - My Thuan Expressway will technically open for vehicles by the end of this year. My Thuan - Can Tho Expressway is expected to be completed in 2023. When the entire expressway is completed, the real estate market of Can Tho and Mekong Delta will surely grow rapidly.
Furthermore, the Prime Minister recently agreed to invest over VND47 trillion to build Can Tho - Ca Mau Expressway in 2021-2025. The expressway meets long-awaited expectations of Mekong Delta people, not only creating a boost in infrastructure development for neighboring provinces but also strongly attracting investment flows, particularly for the tourism segment. Since then, socioeconomic development in general and real estate development in particular in the Mekong Delta have been strengthened.
The government has invested in 11 highways in the Mekong Delta to link Ho Chi Minh City, the Southeast of Vietnam and Cambodia. Additionally, the Mekong Delta is endowed with good climate, terrain and soil to become the largest granary and the largest fruit basket of the country. Can Tho, An Giang, Kien Giang and Dong Thap, especially the urban strip of Can Tho - Rach Gia - Phu Quoc, have focused on developing tourism services and trade connection.
From this perspective, the Mekong Delta has great potential for development, especially opportunities for industrial real estate, tourism real estate and residential real estate, especially affordable apartments and condominiums sold for VND1-2 billion each is falling short and also very attractive to customers. If they catch up with this trend and capture market demand, real estate companies will certainly develop very well.
Source: Vietnam Business Forum