Over a decade ago, a South Korean entrepreneur made the bold decision to venture into Vietnam and establish a real estate business amidst a bustling market.
“Just standing on the street, you could feel the dynamism of this country. Its politics had been relatively stable for some time, and its economic growth was promising compared to other nations,” said Kim Kyoo Chul, co-founder and board member of N.H.O, reflecting on the decision to enter Vietnam in 2012.
Mr. Kim, often referred to as the soul of N.H.O, was previously a real estate entrepreneur and the founder of an NGO in Cambodia, providing support to impoverished villages, especially those with a high number of veterans.
“A healthy NGO doesn’t aim to construct grandiose buildings; it strives to nurture a better community,” Mr. Kim remarked about the NGO he established.
It was, therefore, a natural decision to begin developing social housing in a country brimming with potential like Vietnam.
Attentive to Every Apartment
N.H.O’s first project, Nest Home Danang, set a new standard for social housing in its infancy: optimal construction quality, low construction density of only 30%, and maximum application of new technologies from South Korea to ensure two conditions: sustainable quality and more affordable prices.
The first 400 homes were crafted with such meticulous attention to detail by N.H.O.
The company carried this simple yet impactful philosophy forward, continuously applying and improving upon it in subsequent projects such as Imperial Place, Sky9 (Ho Chi Minh City), City Tower (Binh Duong), and Diamond City (An Giang)…
Whether it’s social housing or commercial projects, N.H.O’s developments include a full range of public works with a consistent design style and careful investment. Even in their social housing projects, residents enjoy a wealth of amenities, including swimming pools, badminton courts, BBQ areas, and communal play areas…
Imperial Place in Ho Chi Minh City is beloved by its residents for its cleanliness, spaciousness, and abundant greenery. Source: N.H.O
The First Home in An Giang was strategically built on the banks of the Hau River, rising to nine stories with Korean standards and a full range of amenities for its residents.
With Sky9 (in the former District 9 of Ho Chi Minh City), N.H.O took their standards to the next level, providing a swimming pool and a spacious community room—amenities that even many previous luxury condominiums lacked.
Imperial Place, constructed later in Binh Tan District, Ho Chi Minh City (2017-2021), was designed with a classic European touch. In addition to standard amenities like a swimming pool, BBQ area, and gym, Imperial Place also boasts an impressive jogging track for its residents.
A New Leap Forward
After more than a decade in Vietnam, N.H.O has witnessed a remarkable rise in the standard of living for Vietnamese people. In just ten years (2012-2022), the average income of Vietnamese people surged by over 90%, from $2,190 to $4,179, according to World Bank data.
Urbanization has brought a new hue to the lives of city dwellers. They now envision a true home in bustling cities, seeking solace from the stresses of modern life.
N.H.O doesn’t merely build optimally designed apartments; they strive to create a community where their residents and customers can live happily and warmly, leaving their daily worries behind.
Their two newest projects, The Dragon Castle (Ha Long – Quang Ninh) and Gem Park (Hai Phong), embody this vision.
The Hi LIFE lifestyle is carefully incorporated into each N.H.O project. Source: N.H.O
The Dragon Castle, delivered in 2023 with an 85% occupancy rate, is a project of distinction, strategically located next to Ha Long Bay, offering unobstructed views of this World Natural Heritage Site. Additionally, The Dragon Castle boasts a plethora of amenities, including a unique glass-bottomed sky bridge that allows residents to relax and enjoy breathtaking views.
According to estimates from the General Statistics Office, by 2030, approximately 45% of Vietnam’s population will reside in urban areas. As such, N.H.O, along with other real estate developers, is diligently preparing for this future. In the next 12 years, N.H.O plans to create 20,000 quality homes and thriving communities.
Since 2021, as Vietnam stabilized its situation post-COVID-19, N.H.O has been actively implementing the Hi LIFE lifestyle concept into most of its projects, emphasizing community connection and fostering mutual support.
The vibrant playground at The Dragon Castle is a favorite among young residents. Source: N.H.O
“Vietnamese people, like Koreans, are modernizing and progressing, but family and neighborhood remain the solid foundation. Our development strategies will always be based on this foundation. Our success will come from the resonance of values and the sharing of achievements,” said Chung You Seok, CEO of N.H.O, on the concept of the Hi LIFE lifestyle.
At N.H.O’s projects, activities for children, the elderly, and parents are organized with great care and attract the enthusiastic participation of the residents. “3,597 households across five pilot projects embracing the Hi LIFE lifestyle have welcomed this new way of living and have been refining it with us since 2021,” shared Hyouejung Chun, Head of Product Development at N.H.O, on the initial success of Hi LIFE.
