(ĐTCK) 93% of  200 leaders of real estate businesses in Asia - Pacific are optimistic about market prospects,according to a recent survey of Jones Lang Lasalle also coincides with the mind of the majority of Vietnamese investor. "Cut off" to rise If we observe closely the market movements and the movements of real estate businesses in the two "waves" of Covid in February and August 2020, we can see many significant differences in the second phase, market members were no more panicking and fluttering like the first wave. It seems that many businesses have started to get used to the “new normal” context with a calmer attitude and also recognize more internal problems in the business to conduct a comprehensive restructuring. . To put it more simply, the General Director of Hai Phat Invest, Mr. Doan Hoa Thuan said: this difficult period is a test for real estate businesses and those who overcome the opportunity in the next few years will be huge when "the market is more open." Until last September, the Leadership of Hai Phat Invest had time to get settled and look back on the past epidemic. Since the beginning of this year, right after the Lunar New Year holidays, businesses have been reeling from resolving situations, from anti-epidemic activities, ensuring safety and life for employees to the stagnation of the market and projects, the worry of running out of cash flow ...

“The general damage to the business community is huge, but in my opinion, from this objective difficulty, businesses are more aware of the possibility of non-traditional risks to prepare preventive solutions. or better system management in the period when everything was still peaches and cream, ” said Mr. Thuan. general, according to him, Covid-19 has changed the global perception, all countries, every business to the people have to reassess risk management for themselves, for their families and for organizations in which they are members. Hai Phat Invest itself has been pivoting the vertical governance model, decentralizing and assigning more autonomy to each unit, such as divestment in some subsidiaries like IWG Hotel and Resort Joint Stock Company and Chau Son Real Estate One Member Co., Ltd. in early September 2020. Covid-19 also seems to be the catalyst for firms to be more assertive in their "throw away" decisions. The story of a leading real estate corporation has just abandoned the proposal to deploy a 500 ha project in Thach That or just last month,was withdrawing from a large project in Long An because "the epidemic situation caused the business to weigh Remind and reassess real estate market needs, and focus on other key projects ”shows this.

DRH Holdings, the group also took a more drastic move when it abandoned the Lac Viet tourist area in Thang Hai commune, Ham Tan district, Binh Thuan province - Real estate project is considered the largest in the portfolio of this unit with land area up to 73ha. In recent sharing, Mr. Phan Tan Dat, Chairman of DRH Holdings, said that after recalculating business efficiency, in the context of the real estate market slowing down and facing many challenges due to Covid- 19, the divestment of DRH Holdings is a suitable decision, ensuring revenue, profit as well as the sustainable development of the Company in the coming time. In addition, DRH Holdings is also recalculating the possibility of continuing to participate in the development of Song May lake project, Trang Bom district, Dong Nai province. Initially, DRH Holdings cooperated with another company to develop the project at the rate of 70:30, in which the partner contributed with the land fund of 20 hectares and DRH Holdings poured capital to implement. Fill the hole From an objective view, the real estate market in Vietnam compared to the world is still quite young and the hot developments have led many businesses to reveal major gaps in governance for about 10 years , notably. It is the lack of method in building strategy, financial potential to the management system, human resources and especially corporate culture. When faced with the big shock of Covid-19, the business was really "hit", the revenue of many companies dropped by 70-80%. Not only that, these gaps also lead to serious consequences when management cannot solve the torn between income problems or pride in the working environment of senior employees. The owner of a leading real estate distribution group in the North is very concerned when many high-ranking employees resign because they no longer feel the in line with the direction of the business. Finding people is part of the headache, but the bigger worry is that gaps in corporate culture and growth strategies that cause former employees to leave are still there. However, according to him, it is optimistic that the Executive Board has recognized these gaps in order to consolidate the management system as well as rebuild the foundation of a more optimal corporate culture value, more sustainable, creating more conditions for personnel to have more "launchers" to develop their careers. At the same time, the market has been at the bottom and has gradually passed the curves, "when the vehicle is rebalanced, the seats are more compact to speed up soon", he expected. With Van Phu - Invest Investment Joint Stock Company, in addition to restructuring in the direction of streamlining, efficiency, restructuring of investment, and restructuring of key products, the company's leaders said that now it is the time to have a policy of attracting talented personnel to be ready for a new phase of market development. "The more difficult it is, the longer it is necessary to think long-distance, thinking to adapt to all circumstances, instead of depending on the old ways", representative Van Phu - Invest shared. Of course, restructuring or changing your strategy is easier said than done many times. As Dr. Vo Tri Thanh, Director of the Institute for Brand Strategy and Competition, said that nothing is more difficult, more likely to be successful or more risky than having to create a new order. But according to Mr. Thanh, with rapid changes in the market, businesses will have to build business strategies based on core competencies, in which the cultural aspect is very important to businesses. Because it is a story about changing the internal vision and stability to create internal and external trust.

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