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SAVILLS VIETNAM

HA NOI

Over 22 years The most


First to Market innovative
Advisory Services in
Viet Nam

DA NANG
68,000 sqm Over USD 100M pa
Leased in 2016 Number one for
transactions

US$ 200 mil


2016 residential sales
Over 5.2 M sqm
under Savills
management

HCMC

2
EVOLVING
Modern retail supported by a large young population
and an expanding economy
• 2nd highest urban population in the region and growing.
• Consistently high GDP growth.

35%
R
MYANMA

18.5 7.3

44%
40%

S
ILIPPINE
6.1
45.3
S

D 52%
LAO

AN 7.0
2.7 7.3

PH
IL

2.9
THA

35.8
3.1
34%
AM
A 21%
DI
N
VIET

6.7
O
CAMB

7.0 31.5
3.3 7.0
6.7
IA 75%
YS
A
MAL

5.0 78%
23.3
6.0
BRUNEI

-0.6
0.3
1.9
100%
RE
O
SINGAP

1.9
5.6
0.6 54%
IA
S
INDONE

4.9
141
5.0

Key
40% % Urbanisation

GDP Growth %
45.3
Spending Consumption growth (%) 2016

Urban Population 2016 (Mil)

Savills Vietnam | 3
EVOLVING
Low retail density with growth potential to catch regional peers.

0.89 0.75 0.65 0.64 0.44 0.17 0.13

Bangkok Singapore Beijing Kuala Lumpur Jakarta Ha Noi HCMC

Retail Density (m2/pax) | Source: Savills

Overpriced, Unavailable? Shoppercations Affecting Performance


Top ten APAC cities by tourist spend (US$ billion)

1 Singapore 15.4

2 Bangkok 12.7

3 Tokyo 11.1

4 Taipei 9.9

5 Seoul 9.4

6 Bali 8.7

7 Phuket 8.3
Kuala
8
Lumpur
7.3

9 Sydney 6.8

10 Hongkong 6.6

20 HCMC 3.5 Source: Mastercard, 2017

Inbounds US$18 billion


Vietnamese tourists
overseas spend
US$7.5 billion

Source: GSO, 2017

Source markets

27% 15% 7% 6% 5%
Chinese South Korea Japan US Taiwan

International visitor yearly growth up: 18%. Source: GSO, 2017

4
Ha Noi & HCMC forecast.
HCMC developing faster
HA NOI HCMC
2%

13%
Non CBD
CBD

98% 87%

Shopping centres dominate

15% 8%

15% 14% 9%
10% 6% 16% Shopping Centre
52% 57% 45% 50% Supermarket

18% 27% Deparment Store


27% 30%
Others

2010 2010

2017 2017

High CBD premium supply

6%
15% US$35 US$53
/m /mth
2
/m2/mth
Vacant

Occupancy

85%
94%

Abundant supply Abundant competition


Annual average 70,000m2
take up 2014 -2016
HA NOI

Supply
2018 - 2020
760,000m2

Annual average
take up 2014 - 2016
120,000m2
HCMC

Supply 650,000m2
2018 - 2020

Savills Vietnam | 5
EVOLVING
Demographics, Globalisation & Technology

Large, growing youth skewed labour force changing demand Tech users
dynamics
• Internet user (% Pop)
20%

14% 22%
52%
9%
24%
2007 2016

• Smartphone user (% Pop)

38%
67%

2009
64%
Source: Ministry of Communication, 2017
2025
• Increasing credit card use

0-14 15-59 60+


9 Mil
Source: GSO, 2016

Source: Statebank, 2017

Spare Time Online

52% 48% 27% 24% 21% 12% 9% 2%

Family Smartphone Friends Laptop/pc Sport & TV Music Other


exercise
Source: Infocus Mekong, 2017

Spare Cash Spend

41% 38% 37% 34% 32%

Travel Fashion Entertainment Home Style Hi-tech

Source: Nielsen, 2016

6
Globalization and international exposure encourages diversity and more brands

3%

9%
Restaurant

4 149 38%
brands 17% brands Special retail store

Services

Education

Manufacturing

32%

2007 2016

Global brands eyeing Viet Nam. F&B, retail and services leading the charge.
Source: National Office of Intellectual Property of Viet Nam

Click & Buy E-commerce diversifying


13,510
Adapting to & loving online retail

US$11 BIL
US$4 BIL 647 682

90 93
13 13 20

2015 2020f 2013 2016

Online shop Online promotion


Source: VECITA, 2017
Online trading Online auction
Source: VECITA, 2017

Savills Vietnam | 7
EVOLVING
Consumption 2011 - 2016
18% 17%
13%
10% 10%
7%
-2%

Modern Leisure Lifestyle Electronics Pharmacies Appareal Jewellery


Grocery & Beauty

Source: Euromonitor, 2017

Convenience store density (,000/store)

Vietnam 54.4
Phillipines
40.9
China
24.9
Australia 8.7

Malaysia 7.4
Thailand 6.9

Singapore 6.2
Hongkong 5.3
Newzealand 3.1
Taiwan 2.4

Japan 2.3

South Korea 2.1 Source: Savills, Nielsen & National statistics, 2016

Wanting More
Source: Savills survey, 2017, sample size: 500

Theme
restaurants Indoor Sport
Organic 11% Science Clinic
23% greenhouse Art
Outdoor Museum 1%
16% Gallery
13% sport 1%
11% Live Music
Pet park
9%
15%

8
AWARD WINNING
INTERNATIONAL RECOGNITION

Best Property Consultancy in Viet Nam


8 consecutive years 2010 to 2018

Best Real Estate Agency in Viet Nam & APAC


8 consecutive years 2010 to 2017

Savills has topped the real estate Savills retained its title as The
agents/advisors in the 2017 UK Times Graduate Employer of
Business Superbrand chart for the Choice for Property for ninth
eighth consecutive year. consecutive year.
Ahead of all industry competitors

Savills Vietnam | 9
ECONOMIC RENT
Sustainable retail development. When revenue exceeds gross occupancy cost. (GOC).

OPERATING

Population Disposable
Income

Entertainment

Fixed Discretionary Health


Expanses Spending
%

Clothing
Categories
%

F&B

DEVELOPMENT

Total Selling Price


Margin
Investment Cost
Construction
Land Cost

10
GOC

Sales/ Gross Occupancy


Revenue Cost

AFFORDABLE
Insurance
RENT
Tax

Wages

Rent

$/m2
A. $/m2
B. $/m2
C. $/m2
MARKET
MARKET
RENT
COMPARABLES
AND BENCHMARKING

NOI

Net Lettable Areas (NLA) x $/m2 Rent (Net Operating Income)

Net Operating Income (NOI) / % YIELD

Savills Vietnam | 11
OUR SERVICES
Our services are delivered by people who combine entrepreneurial spirit and a deep
understanding of specialist property sectors with the highest standards of client care. We help our
clients to fulfil their real estate needs – whatever and wherever they are.

• Market Research General & Specific • Feasibility Studies


• Highest and Best Use Study
• Economic and Demographic studies
ADVISORY • Development Review
SERVICES
• Conceptual Development Recommendations • Valuation

Retail Office Industrial


AGENCY

• Project Sales and Marketing Strategy • Residential Sales


• International Sales • Residential Leasing
RESIDENTIAL
• Landlord Representative

• Pre-Operations Management Consultancy • Facility Management


• Residential - Commercial - Industrial
PROPERTY • Property & Asset Management
MANAGEMENT • Property Management Training

• Operator Selection • Management Agreement


negotiation
HOTEL &
LEISURE

• Strategy Project Positioning


• Acquisition and Sales
INVESTMENT • Stakeholder Engagement Structuring

Please contact us for further information:

Troy Griffiths Do Thu Hang


Deputy Managing Director Associate Director - Ha Noi
+84 (0) 933 276 663 +84 (0) 912 000 530
TGriffiths@savills.com.vn DThuHang@savills.com.vn

Disclaimer:
This report is for general informative purposes only. It may not be published, reproduced or quoted in part or in whole, nor may it be used as a basis
for any contract, prospectus, agreement or other document without prior consent. Whilst every effort has been made to ensure its accuracy, Savills
accepts no liability whatsoever for any direct or consequential loss arising from its use. The content is strictly copyright and reproduction of the whole
or part of it in any form is prohibited without written permission from Savills Research.

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