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Asia Pacific

ULI Expands Presence in Asia with Formation of ULI Vietnam Committee

By May 16, 2022No Comments

The ULI Vietnam committee currently consists of a growing network of members including industry leading industry experts, landlords, owners, developers and urban planners in Vietnam. The newly formed committee has appointed Vo Sy Nhan, the co-founder of Gaw NP Capital and CEO of Empire City, as Chair. Nhan will help formulate the committee’s strategic plan and grow its membership, and footprint in Vietnam.

Nhan brings extensive private and public sectors and industry leadership experience in real estate development and investment to his new role. Prior to his venture into the private sector, he was a public servant at the Department of Planning and Investment of Ho Chi Minh City. Nhan is also an active member of YPO (Young President Organization) and an Harvard Business School alumni.

David Faulkner, President of ULI Asia Pacific, commented: “We are really excited to finally establish our footprint in Vietnam, an exciting real estate market and one of our core focus in Asia. ULI Vietnam will bring together a variety of public and private stakeholders to find solutions and build consensus around land use and development challenges. Moving forward, we aim to provide the avenues for active sectoral dialogues in Vietnam and facilitate the exchange of knowledge between industry experts and the wider community.”

At the well-attended event, ULI also launched the Vietnam edition of the Emerging Trends in Real Estate® Asia Pacific 2022 report, authored in partnership with PwC. The report ranked Vietnam the fifth among other Asia Pacific markets this year in terms of city development prospects, citing its popularity in the wake of persistent strong foreign investment in local industrial parks. Despite a strong potential in the commercial real estate segment, Vietnam has reportedly been adversely affected by COVID-19 lockdowns as large manufacturers with factories in the country have either found or are looking for alternate bases such as in China, according to the report.

Vo Sy Nhan, Chair of ULI Vietnam, said: “While Vietnam is seeing significant progress in terms of sustainability, industrial and investments, rising construction costs, nascent transaction market and solutions for affordable housing remain some of the major challenges locally. Introducing ULI to Vietnam unfolds the organization’s strong commitment to shape the future of the built environment in the country. I look forward to working with our members to curate programs that advance Vietnam’s real estate sector by providing leadership, education, and a platform which will facilitate sharing and awareness of global best practices in land development.”

The Emerging Trends in Real Estate ® Asia Pacific 2022 is available here.