Over a decade ago, a Korean entrepreneur made the decision to venture into Vietnam and establish a real estate business amidst a bustling market.
“Just standing on the street corner, you could feel the dynamism of this country. The nation’s politics had been relatively stable for some time, and its economic growth was promising compared to other countries,” said Mr. Kim Kyoo Chul, co-founder and board member of N.H.O, about their decision to enter Vietnam in 2012.
Mr. Kim, known as the soul of N.H.O, was previously a real estate entrepreneur and the founder of an NGO in Cambodia, supporting especially impoverished villages, particularly those with many disabled veterans.
“A healthy NGO does not aim to construct grandiose buildings but instead strives to foster a better community,” said Mr. Kim about the NGO he established.
Choosing to start with social housing development in a promising country like Vietnam was an understandable decision.
Attentive to Every Apartment
N.H.O’s first project, Nest Home Danang, set a new standard for social housing in its early stages: optimal construction quality, low construction density of only 30%, and maximum application of new technologies from Korea to ensure two conditions: sustainable quality and more reasonable prices.
The first 400 homes were meticulously crafted with such attention to detail by N.H.O.
N.H.O 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 well-designed and thoughtfully invested public works. In N.H.O’s social housing projects, residents still enjoy full amenities such as swimming pools, badminton courts, BBQ areas, and communal playgrounds…
Imperial Place (Ho Chi Minh City) is loved 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, featuring nine stories constructed to Korean standards with a full range of amenities for its residents.
With the Sky9 project (in the old District 9 of Ho Chi Minh City), N.H.O once again raised the bar, offering a swimming pool and a spacious community room – something that even many previous luxury condominiums had not achieved.
Imperial Place (Binh Tan District, Ho Chi Minh City), constructed between 2017 and 2021, was designed with a classic European touch. In addition to standard amenities like a swimming pool, BBQ area, and gym, Imperial Place also features 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 growth in the living standards of Vietnamese people. In just ten years (2012-2022), the average income of Vietnamese people increased 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 have different expectations of a true home in bustling cities, amidst increasingly stressful and pressured daily lives.
N.H.O goes beyond just building optimally designed apartments; they aim to create a community where their residents and customers can live happily and warmly, leaving their daily worries behind.
Their two latest projects, The Dragon Castle (Ha Long – Quang Ninh) and Gem Park (Hai Phong) are N.H.O’s answer.
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 special project located next to Ha Long Bay, offering a direct view of the world natural wonder. Moreover, The Dragon Castle provides perfect convenience with a diverse range of amenities. It is the only project in Ha Long with a glass bridge in the sky, allowing residents to relax and enjoy impressive views.
According to estimates from the General Statistics Office, by 2030, about 45% of Vietnam’s population will live in urban areas. Therefore, 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 prosperous communities.
Since 2021, as Vietnam stabilized its situation after the COVID-19 pandemic, N.H.O has been implementing the Hi LIFE lifestyle program into most of its projects, emphasizing community connection and fostering mutual support.
The colorful playground at The Dragon Castle is a favorite among young residents. Source: N.H.O
“Vietnamese people, like Koreans, are modernizing, but family and neighborhood remain the solid foundation. N.H.O’s development strategies will always be based on this foundation. Our success will come from the resonance of values and the sharing of achievements,” said Mr. Chung You Seok, CEO of N.H.O, about the idea behind the Hi LIFE lifestyle.
At N.H.O’s projects, activities for children, the elderly, and parents are organized with high quality, attracting the participation of a large number of residents. “3,597 households in 5 pilot projects of the Hi LIFE lifestyle have embraced this new lifestyle and have been refining it with us since 2021,” shared Ms. Hyouejung Chun, Head of N.H.O’s Product Development Department, about the initial success of Hi LIFE.
