New venture makes Christie’s International Real Estate the first global luxury real estate brand to enter Vietnam
CHICAGO and HO CHI MINH CITY, Vietnam, May 19, 2024 (GLOBE NEWSWIRE) -- In recent years, Vietnam has emerged as one of the fastest-growing luxury real estate markets in the world, home to a growing number of high-end developments spurred on by a surge of local and international investment.
Today, Christie’s International Real Estate announces its expansion into Vietnam through a new venture, S&S Christie’s International Real Estate. With the launch, Christie’s International Real Estate will be the first global luxury real estate brand with an office in Vietnam.
The new firm is led by Sassy Nguyen, who along with her husband and business partner Sam Vu are the owners of S&S Group, a conglomerate of companies operating in the ultra-luxury automotive, timepiece, fashion, art, and now real estate, industries. Founded in 2013, the company has made a name for itself representing premier brands including Rolls Royce, Lamborghini, McLaren, Richard Mille, Berluti, Audemars Piguet and Baccarat, and recently expanded to Australia with the opening of a Bovet boutique in Melbourne.
S&S Christie’s International Real Estate’s flagship office, which will open in early June, will be located in the Saigon Hilton, one of the newest luxury developments in Ho Chi Minh City, and home to S&S’s Lamborghini dealership. Sylvain Mariat, head of design for a European aircraft manufacturer and Mariat Design in Toulouse, France, is leading the design of the office’s interior, which features a nod to “jet and yacht culture” and the five elements of wood, fire, earth, metal and water. According to Nguyen, S&S Christie’s International Real Estate plans to expand to the capital city of Hanoi within two to three years.
As an affiliate of Christie’s International Real Estate, S&S Christie’s International Real Estate will offer clients national and international exposure through the brand’s global luxury network, which has affiliates in nearly 50 countries and territories. The firm will also enjoy exclusive marketing partnerships and a relationship with Christie’s auction house for the referral of fine art and luxury goods. The Asia-Pacific (APAC) region is a key driver of overall sales and new-buyer spend at Christie’s. In 2023, APAC accounted for USD $805 million in auction sales – 28% of the auction house’s worldwide total – a figure that’s expected to increase with the opening of Christie’s new APAC headquarters in Hong Kong later this year.
Nguyen and Vu’s deep connections in southeast Asia’s ultra-luxury market make partnering with S&S an important move for the luxury real estate network as it looks to broaden its reach in the Asia-Pacific region, according to Helena Moyas de Forton, managing director, EMEA and APAC for Christie’s International Real Estate.
“With a rich cultural heritage and incredible potential for luxury-market growth, Vietnam has been in our sights for some time,” she said. “We’re thrilled to have found the right partner in S&S, a company with a great track record of success and an unparalleled understanding of the luxury market in Vietnam.”
Vietnam’s real estate market has grown exponentially over the past decade, thanks to a stable economy, growth of manufacturing, and a booming agricultural sector – Vietnam is one of the world’s largest exporters of coffee and rice. A growing list of international blue-chip brands have established operations in the country, including Samsung, Procter & Gamble, Unilever, Microsoft and Honda.
While Vietnam has seen an uptick in foreign buyers and investors, primarily from Asian countries including China, South Korea, Singapore, Taiwan and Japan, an increasing number of high-net-worth Vietnamese are also prioritizing offshore real estate investment. S&S Christie’s International Real Estate will serve clientele looking to invest in real estate around the world, in target markets including London, Paris, Dubai, Australia and the United States.
“It’s an honor to bring Christie’s International Real Estate to Vietnam at such an exciting time for the luxury market in our country,” said Nguyen. “Launching the Christie’s International Real Estate brand in Vietnam is a show of confidence and a signal to luxury buyers and investors around the world that our market is here to stay and will continue to thrive.”
Christie’s International Real Estate was born out of the iconic Christie’s auction house, which has captivated a global audience of art collectors and luxury consumers since 1766. Christie’s International Real Estate maintains a close partnership with the auction house, creating unique synergies between the worlds of high-end real estate, art, and luxury goods.
Bella Paredes Christie's International Real Estate 2197657682 bellaparedes@atproperties.com