Having been in operation since its handover in late 2014, the 39,000-square metre Thang Long Number One (TLNO) complex consists of two 40-storey buildings, which take in over 1,000 units of apartments. Besides these, the green surroundings of TLNO also include kindergartens, tennis courts, fitness centres, indoor and outdoor pools, shopping malls, and an indoor park.
According to Vu Kieu Hanh, Savills Vietnam’s head of Property Management in Hanoi, stepping in when a project is already in operation poses its own unique challenges.
Property managers that are in charge right after a project is finished benefit from brand new infrastructure and technical systems; while full instruction and transferring of know-how are also provided by sub-contractors. As a result, early involvement enables a company to understand better the properties they manage.
On the other hand, taking over a property after some time has passed since handover means that infrastructure deterioration might have set in, due to insufficient maintenance.
“Our management process always starts with an in-depth review of current operational procedures, from which we make adjustments as required. We also seek to ensure that no instruction from sub-contractors is missed. Our overarching goal is always to avoid any disruption whatsoever to the residents, while providing our services in a smooth and efficient manner. Savills has a great deal of refined experience in property management, and we are confident this goal will be achieved,” Hanh added.
In January 2018, TLNO became the latest project to be added to Savills Vietnam’s property management portfolio, which now boasts a total property area of over 2.5 million sq.m.
Major projects currently managed by the firm include StarLake, Mandarin Garden, Richland Southern, BIDV Tower, and Capital Tower (all in Hanoi); as well as Saigon Pearl, The Vista, Avalon, Riviera Point, and MasteriThaoDien (Ho Chi Minh City).
Besides TLNO, other recent Hanoi additions to Savills Vietnam’s portfolio are The Eden Rose, Hanoi Belleville, and The Emerald.