What Does Sustainable Development Look Like in Viet Nam?
Mr. Mauro Gasparotti, Director of Savills Hotels, states that Viet Nam’s slow transition and adaptation to sustainability are partly due to its real estate development cycle. Projects require time for planning and construction before operations, and in Viet Nam, many existing projects were planned and developed before the Covid-19 pandemic. During this time, investors and developers prioritised scale rather than sustainability or quality.
"In the next real estate cycle, we expect sustainability factors to become more apparent as many investors are increasingly focusing on integrating green and environmentally friendly elements from the planning to project implementation phase," said Mauro Gasparotti.
According to the expert, sustainability takes different forms depending on the type of real estate. For example, for hotels, sustainability is becoming an indispensable factor as travellers become more aware of the environmental impact of tourism. This drives demand for sustainable products with a minimal environmental footprint.
"We also need to consider the sustainable development of localities, specifically in coastal destinations like Phu Quoc and Cam Ranh. Localities can simultaneously develop tourism activities, preserve community values, and maintain environmental quality and landscapes," he added.
Sustainability will become a crucial criterion that the market seeks. Quality of living, environment, and sleep are factors that buyers are increasingly concerned with. Developers can consider improving these factors by incorporating natural landscape elements or healthcare facilities.
(1).jpg "Phu Quoc Visitors")
