Employing the services of an industrial real estate agent or industrial property management company when purchasing or selling a property, selecting the right from one of the industrial property management companies is critical to the transaction’s success. That is why finding and hiring the best industrial property management is vital. This critical stage has the power to make or break your business.
The Growth of Industrial Zone Real Estate in Vietnam
The industrial real estate business includes industrial property, ready-built factories, warehouses, and logistics. In Vietnam, there is an opportunity for growth in this industry. Vietnam has developed into one of the most appealing areas for investment in Southeast Asia’s manufacturing industry.
Building a factory for rent is getting more common in a variety of industries. A built-to-suit factory sticks out among them. This trend is also leading the cost of renting a plant in the Vietnam industrial zone to skyrocket.
How to choose the best industrial property management companies
Industrial property management companies can help ensure a seamless and timely sale. Working with reputable industrial property management companies provides several benefits, including aid with pricing, law and regulations, professional networks, support and financing, expert negotiation, and recognizing possible problems.
Before contacting industrial property management companies, ascertain the type of property which you are seeking. For example, are you looking for a suitable industrial space? How much money do you have available for a lease or purchase? Where are you going to place your company? How much space will you need? Is visibility necessary? Is it critical to establish a professional image?
By compiling a list of criteria in advance, you may ensure that your broker provides results as quickly as possible.
- Looking for multi-disciplined industrial property management companies
You should seek industrial property management companies that specialize in the type of property for which you are searching. You’ll want to work with a broker who is knowledgeable about the areas in which you’re interested. Inquire with the broker about prior transactions regarding the type of property and locations in which you are interested.
- How much experience do they have?
Years are required to acquire the kind of in-depth industry knowledge that a professional broker possesses. Additionally, it takes time to develop an understanding of how to evaluate elements such as return on investment, cap rates, and net operating income.
Savills Vietnam developed a full-service platform for industrial real estate in 2017 as a result of the country’s rapid expansion in the manufacturing and logistics sectors. Mr John Campbell, the department’s leader, has arranged countless leases, factory purchases, and sales & leasebacks. For customers across several disciplines, John and his dynamic team offer Landlord Advisory, Tenant Representation, Strategic Leasing, Investment Brokerage, and Sales & Leaseback.
- Consider the industrial property management companies‘ local presence and reputation.
Industrial property management companies should have a well-established local presence. Owing to a greater local presence, they may be better able to meet your property’s demands due to a wider base of personnel, contacts, and resources. They will not only be acquainted with and have established connections with local vendors, but there are also economies of scale to be gained by dealing with a business that represents several properties in one area.
Read more: Factors to Consider with Warehouse for Leasing in VietNam
Industrial property management companies should also have good vendor ties. This means they’ll be able to get all of the supplies they need for regular maintenance as well as capital upgrades at competitive pricing. This may assist to minimize running costs from skyrocketing.
You should also examine the team’s overall reputation. While the quality of the management you deal with is vital, the job is only as good as the people who perform it, so understanding the reputation of building personnel and engineers is essential. Aside from vendor relationships, industrial property management firms must have a positive reputation among tenants and other building owners.
Why is FDI pouring into Industrial Property Management companies?
Manufacturing in Vietnam has received a lot of attention recently, especially in the aftermath of the US-China trade war, which has resulted in trillions of dollars leaving China. The majority of the wealth ended up in Vietnam, a developing manufacturing powerhouse in the area. Chinese firms are also relocating to Vietnam to reduce labour costs and increase their manufacturing capabilities. With a population of 95 million people, Vietnam is one of the easiest countries in the region to find skilled professionals, especially those with advanced degrees. The majority of Vietnam’s industry is concentrated in the Hanoi province, which borders China to the north.
With rising salaries in China and Chinese exports being vulnerable to tariffs in the United States and Europe, the trend of industries migrating to Vietnam looks to be intensifying. Other reasons influencing China’s manufacturing decline include the viral epidemic, currency depreciation, and the Chinese government’s effort to shift to high-end industrial products such as aerospace and technology. Vietnamese manufacturing, on the other hand, remains concentrated on vital consumer items.
Vietnam’s closeness to China facilitates road imports of Chinese products, but labour costs remain one-third of those in China. Shipping from Vietnam takes the same amount of time to reach international markets in the United States and Europe, resulting in significant savings for enterprises. There are choices for shipping by sea freight, air freight, and rail freight. Vietnam is becoming the top choice for Chinese outsourcing behemoths, including local Chinese firms.
Read more: The best Vietnam International Leasing Company in Vietnam
One of Vietnam’s leading industrial property management companies
Savills Industrials – One of the leading industrial property management companies that focused on local and global research, which results in high-quality data and reliable market analysis. It is the most essential mission to assist industrial stakeholders who want to diversify their regional portfolio, expand current operations, dispose of or purchase facilities, strategically lease an industrial asset, or enter the industrial market for the first time.
Savills Industrial, Vietnam’s leading industrial real estate team, pledges to provide you with the most up-to-date and fascinating information about industrial property investment in Vietnam, which is gaining more attention than ever before in these trying times.