Over the next five years, the market for building management services is expected to flourish very rapidly. The need for fresh experiences connected with smart, sustainable operations, etc., creates new chances for companies in this domain.
The attraction of the billion-dollar market
Valued at 14.1 billion USD in 2021 and forecast to reach 51.73 billion USD in 2029, building management is a profitable sector worldwide. Furthermore, fast urbanization and a significant increase in the real estate industry are driving the expansion of the building management services market in Vietnam.
Statistics indicate that Hanoi has almost 1,400 finished high-rise buildings, and Ho Chi Minh City has 1,458 buildings as of 2023. This figure will continue to increase in the two main cities of the nation, as well as in other provinces and municipalities. Consequently, despite the presence of numerous enterprises offering services in the market, the annual rate of newly registered firms in this sector continues to see double-digit development.
TNPM is managing and operating Area S - Goldmark City Urban Area.
The COVID-19 pandemic and the emergence of 4.0 technology have altered the need for experiences related to shared amenities within buildings and the maintenance of tenants' living environments, fostering community connections among inhabitants...
A representative of TN Property and Real Estate Management JSC (TNPM), a unit specializing in providing and consulting on real estate management and operation solutions, said, “The criteria for service management quality demanded by customers in the current industry have significantly evolved compared to over a decade ago. Customers seek adaptable management and operational services, enhanced experiences delivered by competent firms, robust financial capabilities with bank guarantees, and a comprehensive system of procedures according to the project's specifications. Additionally, the construction industry requires competent employees, the adoption of management technology, and the utilization of supplementary project resources to generate revenue. This forces enterprises to adapt and adjust accordingly.
Investing in digital operating platforms to improve competitiveness
Since 2020, the building management and operations market has witnessed a surge in digital competition. Service providers have made substantial investments in digital operating systems to improve the customer experience. One of these entities is TNPM, a company that offers management and operational services for premium residential complexes, including GoldSeason 47 Nguyen Tuan, Goldmark City, and GoldSilk Complex. The company has collaborated with TNTech to innovate the implementation of digital transformation solutions, such as FM, S-Plus, Customer 360, Car Parking, and Smart Security, in the apartment developments and office buildings under its management.
Technical staff of an apartment building management board that TNPM is providing services to
These platforms assist customers in optimizing planning, improving asset and equipment management efficiency, preventing energy overload or waste, establishing an effective communication channel between the management board and residents, digitizing notifications and payments, and receiving and processing residents' requests, among other functions. Furthermore, TNPM introduced family services such as electrical appliance repair and cleaning, apartment cleaning, and tree maintenance to better address the residential needs of apartment dwellers.
After over a decade in the industry, TNPM has solidified its brand value by ensuring service excellence in every project. To date, the company has established a comprehensive process system tailored to the specific features of each project and has implemented a flexible process, therefore enhancing the customer experience.
Despite the progressively tough market characterized by elevated standards, TNPM continues to demonstrate its efficacy, successfully securing management contracts with the Kosmo Tay Ho and La Casta Ha Dong in July 2024.
TNPM signed an operation service contract with KOSMO Tay Ho apartment complex, a luxury apartment project in Hanoi.
As part of the ROX Key Corporation ecosystem, supported by the ROX Group, TNPM has established a robust and transparent financial basis throughout the years. Since 2019, the stock exchange has publicly traded the parent company ROX Key under the ticker symbol TN1.
Due to the varied ecology of the parent company, TNPM can offer a wide range of adaptable services to fulfill all customer requirements, such as cleaning, security, protection, engineering, arboriculture, landscaping, and environmental services. TNPM is a market entity proficient in the transition of projects from investors to residents, managing the handover of flats, addressing disputes between investors and residents, and optimizing extra project amenities.
Experts assert that a livable project invariably entails high-quality, expert management and operational services. Opportunities are emerging in an expanding market. The advantage will accrue to the organization with a distinct cultural identity, adhering to professional norms and methodical processes, employing advanced management technology, and offering tailored service packages based on specific demands.
See more information about TNPM here: https://www.tnpm.vn/