Keangnam Hanoi Landmark Tower
Keangnam Hanoi Landmark Tower will be the 17th tallest building in the world and Vietnam’s tallest building to date, once the 70-storey office building completes at the end of 2010. Accompanied by two residential towers and a retail complex, Keangnam will dominate the My Dinh skyline of Hanoi.
Appointed as the Exclusive Sales Agent for this project in 2008, Savills Vietnam proactively created, developed and implemented a successful sales and marketing strategy to sell the 918 apartments and penthouses. As nothing on this level has been developed previously in Vietnam, the project required a fresh approach on a big scale. The marketing campaign aimed to develop the KHLT brand as “the most desired residential address in Vietnam.”
Keangnam Enterprise, Ltd.
From 2008 we started to plan a wide-reaching marketing campaign targeting Vietnamese and overseas investors. Our approach included a realistic pre-development strategy. After the first year of our partnership, we were able to refine the product to ensure the development was keeping pace with the demands of the market. Thanks to the prequalification of buyers coupled with the pre-launch marketing initiatives, phase one was sold within 10 days. The same team brokered the sale of more than 200 apartments and penthouses for Tower A with a total transaction value in excess of US$80 million, all within one month during the 3rd phase.
How we added value
The sales result has been extremely pleasing because it clearly demonstrates our belief in the current Hanoi housing market. Unlike our competitors, we still believe that the residential market in Hanoi is not pessimistically ‘frozen.’ The buyers are just becoming more sophisticated and having higher expectations. Even though Keangnam has been through a few rough crises, with a strong reputation and creative marketing tactics, the project has fully recovered and is now in its final sales launch.