Avison Young, a global commercial real estate services firm headquartered in Toronto, Canada, has entered Vietnam with a strategic affiliation agreement and a team of more than 100 industry experts.
The firm, which has more than 100 offices in 15 countries, has reached the affiliation agreement with Ho Chi Minh City and Hanoi-based D&P Company.
Its Vietnam entry expands the commercial real estate company's Asia Pacific network and establishes a presence in Southeast Asia for the first time.
The new Avison Young Vietnamese operation will be manned by an experienced, multi-national team of more than 100 real estate experts, with “transactional, management, and consulting services across all major property types,” the firm’s website says.
Its services will cover valuation, industrial and office leasing, capital markets, property management and asset management.
Its offices in Hanoi and HCMC will be led respectively by David Jackson and Peter Dinning, with the former as CEO and the latter as chairman.
The firm says that both have in-depth knowledge of the Vietnamese market and more than 20 years of experience as managing directors of a real estate company in the Southeast Asian market. This will enable the Avison Young team to provide tailored real estate solutions to clients in Vietnam, enabling them to “navigate this dynamic and rapidly evolving market with confidence.”
The firm notes that Vietnam has seen significant socio-economic growth in the past decades and has a young population and tech-savvy workforce, which encourages innovation and rapid urbanization. It also has a “fast-paced” real estate market that the Canadian firm is looking to tap.
The company says that the affiliation agreement is a strategic step in its global expansion efforts. “By leveraging its global intelligence platforms and working with local industry experts, Avison Young aims to build lasting partnerships with clients and contribute to the sustainable development of communities in Vietnam.”
Mark Rose, chairman and CEO of Avison Young, said he was excited about the affiliation. “Vietnam is a fast-growing market, and we are incredibly excited to expand the Avison Young network in the Asian-Pacific real estate market, through our affiliation with D&P.
“Vietnam's robust economy and dynamic real estate sector offer tremendous opportunities for us to deliver innovative solutions to our clients. We are confident that David's and Peter’s leadership and expertise will be instrumental in establishing and growing our presence in this market,” he said.
Jackson said that the opportunity to “lead the newly affiliated office in Vietnam of a dynamic, tech-forward and deeply experienced global real estate company such as Avison Young, is very exciting.
“Together with our experienced team, we look forward to extending the company’s purpose of creating real economic, social and environmental value to the Southeast Asian market.”