‘Real estate has passed the time when big fish eat small fish’
Mr. Truong Gia Binh, Chairman of FPT, said that thanks to digitization, the real estate market at this time changed to “fast fish eat slow fish” and many inherent problems in the industry were solved.
“The reality of digital transformation of construction and real estate industries” is one of 9 presentations presented at the 5th Congress of Vietnam Real Estate Association for the term 2022 – 2027, taking place in Hanoi and Ho Chi Minh City. Ho Chi Minh City on the morning of June 9. Nearly 500 delegates are leaders, former leaders of the Government, representatives of associations, domestic and international organizations; experts in law, economics, finance, banking, real estate… discuss the practice and development orientation of the real estate sector.
Identify 5 big problems
“Digital transformation is now not an option but a must”, Mr. Truong Gia Binh opened the presentation. “The era of the 4th industrial revolution has ended the time when big fish eat small fish, but changed into “fast fish eat slow fish”, the head of FPT said.
This is thanks to the huge benefits that digital transformation can bring to the real estate and construction sectors, based on the specifics of the industry. Binh assessed that this is the most important economic component, making an important contribution to economic growth and GDP for many years, with billion-dollar projects spanning many years, and thousands of homes. contractor.
However, Mr. Binh cited five major problems that the real estate and construction industries are facing. The first is the management of thousands of contractors at the same time, if it is not effective, it will cause a loss of up to 30% of the investment capital, delaying the progress. Next is the issue of project quality control and deployed human resources. Sales management, solving the question: “How can we sell goods to the market as quickly as possible, especially for products that consumers are careful and need complete and transparent data” is also a big problem.
The fourth is financial and capital management. “What surprises me is that a lot of investors in Vietnam are still using excel, when asked about the financial indicators of the day, the status of the project… they could not answer. This is the first challenge. a problem of scale,” said Mr. Binh.
Another feature of the real estate industry is that complex legal procedures lasting up to 5-7 years also pose urgent requirements for solutions.
“These problems have actually been solved relatively completely. Now we don’t have to ‘solve’ anymore, but need a comprehensive digital transformation solution for the real estate and construction industry in Vietnam. “, emphasized FPT’s chairman.
Mr. Truong Gia Binh, Chairman of FPT’s Board of Directors spoke at the meeting. Image: Vietnam Real Estate Association
Benefits of digital transformation
Accompanying the digital transformation process for the real estate industry from the beginning, the chairman of the group believes that the business has an understanding of the challenges of the industry. As a result, FPT has solutions and is ready to solve different problems of Vietnam. “FPT always walks with two legs, one foot in the domestic market, one foot in the foreign market. 20 years abroad has helped us accumulate a lot of experience”, Mr. Binh affirmed.
Previously, FPT has implemented a comprehensive digital transformation for the Capitaland ecosystem in Singapore, including construction, real estate, hotels – restaurants to entertainment, shops and supermarkets.
In Vietnam, many big customers such as Phat Dat, An Gia, Coteccons, Filmore, TNR… have pioneered the application of digitization and chose FPT to accompany them. Fast deployment time, only 3-6 months for the core area and 18 months for the entire solution.
Accordingly, these technologies go into business practice and solve specific problems in the business environment in Vietnam, through 150 processes specific to the real estate industry and hundreds of other processes on governance. , manage. Digital transformation can solve real estate procedures quickly and efficiently, resolve records, bottlenecks, calculate and control progress, and material loss.
FPT’s digital transformation solutions are capable of serving all audiences in the industry, from investors, developers, general contractors, construction/construction units, brokers, operation managers, etc. .
“With big data and artificial intelligence, the real estate industry can compete with great powers,” affirmed FPT’s chairman.
Mr. Binh also cited research and evaluation of FPT, customers, partners, digital transformation can increase progress by 30%, increase revenue by 25%, increase customer satisfaction by 40%, and reduce costs by 5%. projects, increasing the proportion of revenue from new customers by 5%-15%, reducing project costs by 1%-5%.
“We are facing a great opportunity in digital transformation. FPT hopes to cooperate with the Association to have common activities, such as encouraging the development of smart homes, helping to save energy, protect the environment, and bring benefits to customers. benefits for customers”, Mr. Binh shared.
The 5th Congress of the Vietnam Real Estate Association for the term 2022-2027 has just held its first session in Hanoi and Ho Chi Minh City. On the basis of the results achieved in the fourth term (2016-2022), the Vietnam Real Estate Association (VNREA) held the 5th congress with the spirit of comprehensive evaluation of the achievements in the term. through the same problems that need to be overcome in order to aim higher in the coming period. Besides the discussion on digital transformation, the congress had sharing from the heads of businesses, real estate associations, experts on city development of international stature; development solutions for social housing markets, tourism real estate, industrial real estate…
Phong Van
at Blogtuan.info – Source: vnexpress.net – Read the original article here
