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Many development opportunities are opening up in the building management service industry in Vietnam

Currently, building management systems are being widely deployed among residential areas and commercial buildings to monitor and manage activities such as protecting assets, ensuring safety for residents, handling security, fire prevention, maintenance and repair of electricity and water systems, landscape protection, etc., providing a safe and healthy living environment for everyone living and working at home.

Globally, the building management system scope was valued at USD 14.1 billion in 2021 and is expected to reach USD 51.73 billion by 2029. The expansion of the global building management system market is driven by a variety of factors, typically increased industrialization and urbanization leading to a rise in trade and rose demand for maintenance services in commercial centers, office buildings, high-rise apartments, etc., thereby promoting market growth.

This market has been very active across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. In 2020, Asia-Pacific was the highest contributing region to the global Building Management services market and is anticipated to secure the leading position during the forecast period.

For the Vietnamese market, although the field of building management and operation is still quite new, in the past 5 years, there has been significant development. In the past 10 years, the urbanization rate in Vietnam has grown strongly from 30.5% in 2010 to about 40% in 2022, especially in Hanoi and Ho Chi Minh City. With the rapid pace of urbanization and the diversity of real estate types such as shopping centers, offices, urban areas, industrial parks, apartments, etc., the popular development of the real estate management industry has been opened.

According to the statistics from the Department of Housing and Real Estate Market Management, the Ministry of Construction recorded that in just the last 6 months of 2020, the number of businesses registered to operate real estate management and operation services recorded an increase of nearly 18% over the same period last year.

In particular, the financial center and centrally run cities are targeted as potential land for management and operation units because of the rapid urbanization rate. In Vietnam, there are two special urban areas, Hanoi and Ho Chi Minh City, with the proportion of skyscrapers in Vietnam also being extremely high, especially in Hanoi at 52% and in Ho Chi Minh City at 32% as of June 2021.

In these areas, the field of real estate operations management also developed early, with the presence of famous units such as CBRE, Savill, JLL, and PMC, among others bringing many challenges to operations management businesses just wanting to enter this market.

Savills Vietnam

Savills is one of the largest global building management companies with more than 600 representative offices in more than 60 countries. Entering the Vietnamese market in 1995, Savills now has more than 28 years of experience in consulting and managing a variety of real estate types throughout Vietnam, including shopping centers, offices, and luxury apartments in urban areas. 

Savills Vietnam currently manages more than 8 million square meters of real estate. Some famous buildings such as PVI Tower, BIDV Tower (Hanoi), Saigon Pearl, The Vista (HCM),... In addition, Savills is also one of the companies specializing in real estate with a team of strong and professional staff that is ready to meet all customers' needs.


Savills Vietnam's net revenue tended to grow quite steadily each year. In 2022, the brand's net revenue stood at nearly VND 790 billion. However, dissimilar to the net revenue trend, the company's after-tax profit fluctuated slightly, around a profit of VND 22-23 billion per year.


PMC Company's full name is VNPT property and management joint stock company, established in June 2009, as a capital contribution corporation of Vietnam Posts and Telecommunications Group (VNPT) and Japan Biken Techno Group. This is also a famous building management company in Hanoi.


Owing to nearly 20 years of experience in real estate services, in the building management segment, the business always follows the philosophy of listening and understanding customers. Currently, this business is managing large projects in Hanoi such as Ruby GoldMark City, Winhomes Bac Ninh, SaigonMia, and so on. 

PMC's net revenue and profit after tax had a tendency to grow quite stably in the 3-year period 2020-2022, with positive growth each year. By 2022, PMC has brought in revenue of more than VND 760 billion with a profit of nearly VND 14 billion.

CBRE Vietnam

CBRE is the world's largest commercial real estate investment and services company. Entering the Vietnamese market in 2003 with the mission of being a strategic consulting unit and providing leading real estate services across the country. Up to now, after 18 years of development, CBRE has more than 700 employees working at 3 representative office branches in Vietnam. 

CBRE Vietnam is currently one of the largest real estate management units in Vietnam with about 1.3 million m2 of real estate area. Typical projects managed by CBRE include Vincom City Towers, Grand Plaza Hanoi,... in Hanoi, and The River Thu Thiem, Sunshine Venicia,... in HCM.


CBRE Vietnam's net revenue fluctuated slightly each year. In 2022, the brand's net revenue achieved nearly VND 560 billion, down 1.3% compared to the previous year. Meanwhile, along with the net revenue trend, the company's profit after tax situation showed stronger fluctuations. After profits nearly doubled in 2021, this number did not experience positive signs in 2022, returning to a profit level nearly equal to 2020.

Net revenue of some building management companies in Vietnam

Jones Lang LaSalle

JLL is a leading corporation specializing in providing professional real estate investment and management services in the US. Since its establishment in 2006, JLL Vietnam has grown into a leading real estate consulting company in Vietnam, with more than 450 employees. 

JLL owns the largest commercial real estate consulting team in Vietnam and provides a full range of professional services including research and valuation, landlord and tenant representation, project development management, Technical administrative management, and real estate asset management. 

Jones Lang LaSalle recorded stable development in net revenue each year, reaching more than VND 510 billion in 2022. Along with the positive growth trend, profit after tax achieved a breakthrough in 2 years 2021 and 2022, 3-4 times the profit in 2020.


PSA is a member unit of Petrosetco Assets Management JSC (Petrosetco). With more than 16 years of experience operating in the field of real estate management and operations, PSA has achieved many proud achievements and managed high-end real estate projects such as the PetroVietnam Building 18 Lang Ha, Vietnam Petroleum Institute Building, State Bank of Vietnam Building,... 

PSA's business situation was inclined to decrease in 2021 in terms of both net revenue and profit after tax, but the company swiftly developed stably again in 2022, achieving nearly VND 490 billion in revenue with the following profit after tax of about VND 24 billion.


VISAHO Joint Stock Company is an enterprise from Japan. Established in Vietnam in 2015, the company specializes in providing private services, real estate management and operations, and real estate brokerage in Hanoi and Ho Chi Minh City. 

Possessing a team of experienced personnel and a team of foreign experts to support operational management work at management projects, VISAHO is currently holding important projects: Summit Building, Viglacera Tower, Park City urban area, Capital Place project,... 

During the period 2020-2022, VISAHO has witnessed a strong fluctuating trend in net revenue. Although there was a slight decline in net revenue in 2022 compared to 2021, reaching more than VND 116 billion, profit after tax witnessed impressive growth, from just nearly VND 90 million to more than VND 5 billion in 2022, about 60 times more.

Profit after tax of some building management companies in Vietnam

Asahi Japan

In 2019, Asahi Japan Investment & Properties Management Services Joint Stock Company was officially established on the basis of strong cooperation between a prestigious corporation in Japan TOYO GROUP, and DAT XANH MIEN BAC Service and Real Estate Joint Stock Company. 

Even though it has just entered the operations management market in Vietnam, owing to a team of experienced staff and experts, Asahi Japan has been "chosen to deposit gold" by large investors for large-scale projects such as the Flora Fuji project, Golden Park Tower, Opal Boulevard,... 

Asahi Japan (Vietnam) saw impressive net revenue growth over the three-year period but profit after tax tended to be negative. Specifically, the brand's net revenue climbed by nearly VND 40 billion per year, standing at nearly VND 110 billion in 2022. Meanwhile, the company's after-tax profit was not positive. The company recorded positive growth in 2021 and then returned to negative profits in 2022.

My House

My House is a real estate management company built by a team of highly specialized lawyers, technicians, etc. Established in 2013 with the motto "prestige - dedication - professionalism", the company always brings satisfaction to customers when choosing to use services at My House. 

With more than 10 years of experience in consulting and organizing operation management, MY HOUSE has been the management unit for large-scale projects such as Riva Park, To Ky Tower, Sky Center building, etc. Viva Riverside,... 

My House's net revenue and profit after tax did not change much in the period 2020-2022. However, unlike the stable growth of net revenue with an increase of about 5% per year, the brand's profit after tax was almost unchanged at a profit of VND 450 million.


OCS is a unit that manages and operates apartments, rental apartments, office buildings, and other types of real estate - a joint venture between two large corporations, Comin Asia and OCS UK. 

The combination of two large and reputable companies helps OCS Vietnam quickly become the leading provider of convenience service packages for buildings, apartments, factories... in Vietnam. In addition, OCS is also a partner of large corporations such as ABB, and Kimberly Clark..., implementing many apartment construction projects in Hanoi and other provinces across the country. 

OCS's business picture in the last three years has not shown any positive changes. Specifically, the brand's net revenue fell by about 20% in 2021 and 2022 compared to 2020, reaching about VND 37 billion. Meanwhile, the brand's profit after tax has not had a positive sign, recording negative profits for three years.

Normally, commercial, residential projects, and so on managed by companies with reputable brands would have the upper hand in business and transfer activities. Therefore, the need to choose professional management and operation units is increasingly receiving attention from investors and residents. This is also a big challenge that many new businesses face. Therefore, to be able to enter this market, units need to create for themselves a unique cultural identity and services that meet the correct standards and have systematic operating procedures. In addition, the application of technology in management (prop-tech),... will help businesses create a more competitive advantage in the market. 

Source: Vietdata's 2022 building management services market report in Vietnam


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