In October alone, a series of real estate companies in the South posted information looking for units to jointly develop real estate projects. However, cooperation handshakes are still rare.
The need for cooperation is increasing
Phuc Land Real Estate Investment and Trading Joint Stock Company (HCMC) has just issued a notice inviting capable brokerage businesses to join Phuc Land in developing and selling a project in Duc Hoa district (Long An province).
Mr. Tran Quan, General Director of Phuc Land, said that this is a land and townhouse project with more than 400 products, with completed legal documents and certificates for each product. Previously, Phuc Land had its own sales staff and brokerage floor, but from 2022 to now, the company has stopped developing the floor and sales staff. Therefore, when launching this project, Phuc Land called on real estate businesses to join in developing the project.
Also calling for cooperation, Five Star International Group informed that according to plan, in the first quarter of 2025, Five Star will launch a townhouse and villa project of more than 70 hectares in Long An. Currently, the company is looking for qualified investors to implement sales at this project.
Nowadays, calling for cooperation in project development of real estate enterprises is more popular than before. Most of them are calling for investment in construction and joint sales, or calling for partners who only specialize in sales.
Similarly, An Phu Sinh Company called on investors to join hands in developing the An Phu Sinh Residential Area Project (Long An). According to the company's leaders, An Phu Sinh previously signed a cooperation agreement to develop the project with Hoang Quan Real Estate Group. However, because Hoang Quan could not arrange finance to develop the project, the two sides stopped cooperating. Up to now, An Phu Sinh Company continues to call on businesses to jointly develop construction and sales at this project. "The project has an area of 14.7 hectares, with the main segment being land and townhouses, and the legal procedures have been completed," said the leader of An Phu Sinh Company.
For example, Danh Khoi Group is calling on real estate companies with financial potential to participate in developing the Thuan An high-rise apartment project (Thuan An City, Binh Duong Province). This project has a construction area of 4,504 m2, with 33 floors, and currently has a 1/500 planning.
In addition to calling for cooperation in project development, many businesses are currently calling on brokerage firms to participate in selling their projects. For example, KN Cam Ranh Company calls on brokerage firms to participate in selling at the Caraworld Cam Ranh Project (Cam Ranh City, Khanh Hoa Province).
Handshakes are still rare.
Mr. Ngo Quang Phuc, General Director of Phu Dong Real Estate Joint Stock Company, commented that currently, calling for cooperation in project development by real estate enterprises is more popular than in previous years. Most of them are calling for development cooperation such as investing in construction and joint sales, or calling for partners who only specialize in sales.
“The reason for this trend’s explosion comes from the fact that investors with land funds are having difficulty with cash flow and need strong financial partners to develop projects together. In addition, many businesses, after a difficult market period, have to abandon the distribution sector, so when launching products, they do not have sales staff and are forced to call on outside floors to participate in selling products,” Mr. Phuc analyzed.
However, despite many calls, it is still difficult to find partners. Mr. Nguyen Van Hau, General Director of Asian Holding Real Estate Joint Stock Company, said that the products called for cooperation in development are mostly land projects, townhouses, in markets that are picky about customers such as Long An, Dong Nai, Binh Duong... This segment is currently very difficult to sell even though the investor has all the legal documents.
Therefore, although investors earnestly call for cooperation, many businesses are not interested, because if they cooperate, they will have to pay a large sales deposit fee, plus recruiting more employees, communication costs... but if sales are slow, it will affect the businesses participating in the cooperation.
“In the past, we have been invited by many businesses to cooperate in developing land projects, townhouses, and resort real estate. However, after researching the market, we could not participate, because the risk in implementing sales during this period is very high,” said Mr. Hau.
According to the reporter's investigation, the above-mentioned businesses calling for cooperation all said that they have not yet found partners, including projects such as An Phu Sinh Residential Area or Thuan An high-rise apartment building, which have been calling for cooperation for many months now but no businesses have responded.
Comment (0)