The Savills and RealPlus partnership will allow both organisations to leverage international and local expertise and maximise expansion throughout one of Asia’s most resilient property markets.

“The goal was to acquire a complementary business that would allow Savills to expand our residential agency footprint in Vietnam. The market is growing rapidly, but is now extremely competitive,” said Mr Neil MacGregor, Managing Director of Savills Vietnam.

“By acquiring an interest in RealPlus we gain the ability to compete at the local level in step with a trusted, ambitious entity that we know very well. We can bring our strengths in marketing and key technologies to RealPlus, which it can lean on to facilitate its future growth. RealPlus will be injecting some of the capital from the sale back into the business to support growth as the market recovers post pandemic.”

RealPlus was established in 2017 by market research and real estate project development consultancy BDSPlus, with a specialty in end-to-end residential and resort real estate services for condominium, villa and townhome properties at all price points. RealPlus currently has offices in Ho Chi Minh City, with plans to expand its network in the short term.

“Having distinguished its core values of integration and know-how across property markets, RealPlus has achieved remarkable success in the residential and resort sectors,” said RealPlus Chair Mr Trinh Hoai Duc. “Savills is a renowned property services provider, and we believe this alliance will improve our professional working standards and leverage Savills’ international network to reach a valuable client base for projects in Vietnam. Savills will strengthen our competitive advantage in Vietnam by diversifying the products and services we will be able to offer local buyers, and in turn RealPlus is thrilled to be able to contribute its development advisory knowledge and comprehensive expertise in local markets.”

Vietnam is one of the region’s strongest property market performers, posting rising commercial and industrial rents, with residential prices spiking nearly 13% in 2020.  This is underpinned by Asia Pacific-best GDP growth estimated to hit 6.7% in 2021 and ongoing travel and hospitality infrastructure investment by government. “The residential market has shown great potential across segments, and we see it growing further, which is what we’d like to tap into,” Mr MacGregor continued. Savills will remain focused on the high end, and RealPlus will complement that by using its expertise and flexibility across price points to help grow Savills beyond just the luxury sector.

Mr Chris Marriott CEO, Savills SouthEast Asia, added: “This is a great move by Neil and his market-leading business in Vietnam. Savills has a very strong brand in global residential markets and this represents an excellent opportunity to not only grow our local presence but also to extend our regional and global reach.”

About Savills Vietnam

Based in Ho Chi Minh City and Hanoi since 1995, Savills Vietnam currently counts approximately 2,000 professionals working in research, valuation, property management, development consultancy, investment brokerage, sales, leasing and asset management across the commercial, industrial, hospitality and residential sectors.

About Savills

Savills plc is a global real estate services provider with an international network of more than 600 offices and associates spanning the UK, the Americas, Europe, Asia Pacific, Africa and the Middle East. Founded in 1855, the London Stock Exchange-listed and FTSE 250 Index constituent advisory offers a broad range of transactional, management, research and valuation, and financial and investment services, and has consistently been recognised as ‘best in class’ across commercial and residential sectors. Savills is proud to be a global leader on operational ethics, environmental sustainability and corporate social responsibility.