In the plan for developing VinCity cheap housing brand name, in addition to Hanoi and Ho Chi Minh City, Vingroup Group also selects 5 other localities including Nha Trang, Hung Yen, Thanh Hoa, Hai Phong, Ha Tinh. So why Vingroup Group choose these provinces to develop the project?
In terms of geographical location
Geographically, it can be seen that these 5 provinces (together with Hanoi and Ho Chi Minh City) stretches and relatively distributes across the whole country. In terms of development strategy, it can also be seen as a “reinforcement of presence” policy and can “fill in the gaps” in places where other businesses have not yet arrived.
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Especially, this can be seen very clearly in Ha Tinh city. This is the locality which is evaluated to have an impressive economic growth rate in recent years and especially has great advantages in land resources. But the important thing is that there is not any large enterprise investing in housing projects in Ha Tinh. Meanwhile, this is the key location Vingroup has been heading to.
Another fact is that from 2015, Vingroup Group has started construction of Vincom Ha Tinh Complex with a large scale up to 57,000 m2 located in the center of Ha Tinh city. The project is the first high-end complex in this province with a five-star luxury hotel with 36 floors, Vincom shopping center, adjoining villas and modern townhouses.
There are 39 single villas, 48 adjoining houses, and 28 townhouses in total.
In addition, this real estate project has an area of 152m2 – 460.7m2 / unit, located in the most beautiful and busiest street. These are also the first Vinhomes branded housing developed by Vingroup outside of Hanoi and Ho Chi Minh City.
In addition, Vingroup Group invested in five-star resort complex – Vinpearl Cua Sot in Thinh Loc commune, Loc Ha district, Ha Tinh province in 2016. The resort is located on an area of 16 hectares, of which the land area for resort construction is about 25,200 m2, and the clubhouse land area is 1,200 m2, with total investment capital up to 300 billion.
The calculations of Vingroup
It can be seen that the selection of 5 above localities to build Vincity project is a very thorough calculation of Vingroup Group on the market. These include analysis of strengths (big brands that have had previous investment projects can capture market demand), opportunities (especially no large competitors in cheap price housing segment), weak points (almost none) and risks (very low – because the market always has high demand on housing).
Having been successfully applied in the retail sector with the leading strategy of “taking the countryside to cover the city” Vingroup once again applies these tactics to real estate – helping build affordable homes in provinces to take over local customers and instead of gold bars, picking up the silver coins are equally effective.
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