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BUSINESS SPOTLIGHT

Euroterra Capital debuts in Vietnam

Released at: 16:51, 23/06/2019 BUSINESS SPOTLIGHT

Euroterra Capital debuts in Vietnam

At a ceremony for announcing the partnership between Denzell Việt Nam and Euroterra Capital held on June 19 in HCM City (Photo source: Denzell Vietnam)

Greek firm among leaders in global real estate development and investment.

by VET reporter

Euroterra Capital, a leader in real estate development and investment worldwide, announced its debut in Vietnam at a press conference on June 19 in Ho Chi Minh City, with Denzell as its exclusive partner.

The partnership is a keystone in introducing prime development projects in Greece to Vietnam-based investors.

With over 39 years of experience, Euroterra Capital has successfully cemented its name as one of the most esteemed developers in Europe, with approximately 3 million square feet of residential and commercial space across the continent, including Great Britain, Greece, and Bulgaria.

It places particular importance on local knowledge and is specialized in creating bespoke living spaces to provide both potential investors and residents with opportunities to invest in and be part of developments in the most desirable markets in Europe.

Its partner Denzell, a Hong Kong-based real estate agency with many years of expertise in global investment, is considered a rising brand for global investment in Vietnam.

Mr. Pantazis Therianos (R) and Mr. Kingston Lai at the ceremony.(Photo source: Denzell Vietnam)...

With offices in Hong Kong, Thailand, and Vietnam, Denzell has established a distinctive presence in the Asia-Pacific region and serves more than 8,000 clients worldwide. It has cooperated with leading real estate developers in top investment destinations such as Thailand, the UK, Australia, and Greece, to help clients strategically diversify their portfolios and maximize their returns in the long run.

In Vietnam, Denzell will act as a bridge for connecting local investors to reputable global real estate developers. It recently signed an exclusive strategic partnership with Thai real estate developer the Sansiri Public Company Ltd in Vietnam. Denzell has attracted more than 9,000 applications from international investors in its most affordable residence-by-investment programs that provide access to Europe since the Greek Government launched the Golden Visa program in 2013, which has become a desirable program allowing not only applicants and their families to gain visa-free access to Europe’s Schengen area but also to benefit from leasing or re-selling their real estate projects.

Greece has been a major tourist destination in Europe since antiquity, for its rich culture and history, which is reflected in large part by its 18 UNESCO World Heritage Sites - among the most in Europe and the world - as well as for its long coastline and many islands and beaches.

Through the strategic partnership with Denzell Vietnam, Euroterra Capital wants to expand its presence as well as explore the potential of Vietnam’s real estate market. This is also an opportunity for Denzell’s customers to experience Euroterra Capital’s trustworthy and quality investment environment, with high-end residence projects such as individual houses, blocks of apartments, and multi-unit sites.

In May, after Crystal Waters’ tremendous success on Lefkada Island, where all 150 villas were sold, Euroterra Capital launched new projects in Mykonos, the most charming and luxurious island in Greece. This is one of the development programs under the Crystal Waters brand, which was founded by Mr. Pantazis Therianos, CEO of Euroterra Capital.

Crystal Waters Aquamarine was introduced at the press conference - a magnificent collection of luxury villas within a short distance of Elia and Agrari beaches in Greece. The collection boasts the signature features of privacy, luxury, fine design, and stunning sea views. Situated within a large luxury development plan where five-star hotels, villas, and high-end facilities such as restaurants and bars and spas will be built, Crystal Waters Aquamarine is set to become a new global hotspot in Mykonos.

At the press conference, Mr. Kingston Lai, CEO of Denzell Vietnam, said Euroterra offers projects in good locations and their finishing delivery is of a high standard, with the firm having also been active in developing luxury residential projects in London and its UK experience then being applied to major projects in its homeland of Greece.

Asked about the attraction of these projects for local buyers in Vietnam, Mr. Lai said most are situated in either the center of Athens or on one of Greece’s many beautiful islands, and sell at attractive prices. “A lot of our Vietnamese clients who have travelled to Greece with us have immediately fallen in love when they see these properties,” he said.

Regarding Denzell’s responsibility to protect Vietnamese investors when buying property overseas, according to Mr. Lai, Denzell offers three important services to its Vietnamese clients. Firstly, it conducts thorough due diligence on each developer and project before it introduces them to the market. Secondly, it helps its clients understand each project before they purchase and its sales people do not mis-sell any products. Thirdly, it offers comprehensive after-sales services such as leasing and property management to its clients.

Regarding the growth potential of Vietnam in the next five years and the rise of real estate markets in Vietnam and other countries in the region, Mr. Lai noted that “the wealth of Vietnamese is certainly growing very fast and over the next five years we see huge growth demand from local Vietnamese for overseas properties, as a way to diversify their investment portfolio.” He quoted Nielson, a leading global information and measurement company, as estimating that Vietnam’s middle-class population will reach 44 million by 2020. For the moment, most investors are looking to invest in residential properties overseas, as this is the easiest asset class to understand and manage, he said, adding that “in the future, we see a trend of investors getting more sophisticated and starting to invest in commercial properties such as hotels and resorts.”

For Vietnamese clients interested in foreign investment, Mr. Lai advised they should understand each market properly before deciding to invest, as every country has its own regulations in terms of foreign ownership of real estate and different procedures for property investments. They should always ensure they find a reputable and reliable property agency to assist them in navigating these different markets.

For his part, Mr. Pantazis Therianos why his firm decided to enter Vietnam’s property market.

“Euroterra Capital has paid close attention to Vietnam and we have high confidence in the fast-growing market, as seen in the growing number of private equity investments and the Vietnamese Government’s policy to equitize many State-owned enterprises,” he said, adding that “we also want to offer overseas investment opportunities as a good choice for investors in Vietnam.”

Mr. Pantazis Therianos was speaking at the ceremony (Photo source: Denzell Vietnam)

“With open policies from Vietnam and Greece signing a number of agreements and economic contracts, including a framework agreement on economic cooperation, industry, and technology, a framework agreement on cooperation in tourism, and an agreement on cultural cooperation, we believe investors can generate high yields with lower risk compared with other investment channels,” he stressed.

Regarding Vietnam’s potential for luxury property and overseas investment, Mr. Pantazis Therianos the wealth report 2019 released by Knight Frank as saying that Vietnam has the fastest-growing rich and ultra-rich population in the world, compared to the average growth in Thailand or Singapore (with the number to increase by between 28 and 31 per cent over the next five years) and the number of the ultra-rich population is also among the world’s highest.

Its booming economy (which posted 6.8 per cent year-on-year GDP growth in the third quarter of 2018) and young and dynamic population make Vietnam a market of huge potential for luxury property and an affordable choice for the middle-class segment, he said.

Mr. Pantazis Therianos spoke about the unique selling point of Euroterra Capital’s projects. It is the first and only Greek property developer to officially enter Vietnam, and provides complete after sales solutions for clients, from asset management services to catering to a range of requirements such as decoration from well-established construction teams and brokerage advice. Euroterra Capital is committed to creating distinctive living spaces while preserving the inherent characteristics of both residential and commercial properties in their prime locations.

“We pride ourselves on creating exceptional space, as we continue to fortify our reputation as Europe’s finest luxury home developer,” he said.

On the main obstacles his firm may face when approaching Vietnamese customers, he said these include the fact that investing in foreign real estate, especially in Greece, is still a new concept to Vietnamese investors. Greek’s economic crisis still affects the mindset of Vietnamese investors, even though it recovered long time ago and is blossoming now. “Unlike local properties, our buyers initially experience products through brochures and models,” he said. “We try to overcome the challenges by conducting trips for Vietnamese buyers to visit Euroterra’s projects after a deposit is made. This helps investors understand more about Greek culture and local people.”

He further noted that Euroterra Capital has created a portfolio of different brands with diversified and talented groups specializing in various real estate professions. Crystal Waters is one of the iconic brands of Euroterra Capital, with a vision inspired by a return visit to his childhood home town. Crystal Waters specializes in creating unique living spaces near the waterfront, with a focus on promoting local culture and traditional living within the communities it builds. It aims to deliver a network of serviced luxury villas and apartments in exceptional locations around the world, providing on-site swimming pools, restaurants, bars, and resort-style facilities. Widely considered a success and in tandem with a boom in the market, Crystal Waters is now expanding into its secured developments in Santorini, Tinos, Mykonos, and other prestigious locations in Greece.

According to Mr. Pantazis Therianos, residents and guests staying in Crystal Waters’ developments can enjoy all the luxurious facilities in the Aqua Club, from wellness and swimming pools to gastronomic pleasures and networking lounges. The privilege of being a club member allows access to the Aqua Club facilities of Crystal Waters’ developments around the world. The Aqua Clubhouse brings together residents and guests of Crystal Waters and engages them with global networking communities.

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