Why is the livable project certification truly necessary?

The Forum on the sustainable development of the Vietnam real estate market will be held on 8:30 AM - 12:00 PM, Friday, September 22, 2023 at JW Marriott Hotel Hanoi, No. 8, Do Duc Duc, Nam Tu Liem, Hanoi 

Mr. Phan Le Khoi, a representative of Bitexco Group, acknowledged that numerous awards are presented to investors in many categories of the real estate industry, such as housing, planning, design, and more. However, as an investor, he feels that focusing on the "livable" component is a game changer.

The phrase "livable" refers to various characteristics, including landscapes, architecture, design, facilities, and, most importantly, community-oriented aspects. It aspires to benefit locals, which means that everything excellent in a project should be available to them.

CREDIBILITY AND NECESSITY

Mr. Khoi believes that a livable project must include more than just concrete and steel. It must actually be a place for the community, by the community, and fostered to grow and spread the community's positive values. A worthwhile urban area is one in which citizens are really satisfied.

"As a result, even as awards proliferate like mushrooms, we continue to believe that the livable project certification is the most credible and necessary for current residential projects," Mr. Khoi stated.

The Forum on the sustainable development of the Vietnam real estate market

One investor admitted that domestic enterprises frequently crave overseas prizes, but the "livable project certification is a rare jewel amid Vietnam's forest of certifications and awards. According to him, the success of worth-living projects is determined not just by hard infrastructure, which he refers to as "material capital," but also by the quality of inhabitants and their connections, which he refers to as the project's "human and social capital."

"To thrive and sustain growth, the livable project certification reminds businesses to focus more on infrastructure, landscapes, and amenities to enhance the quality of life for residents," stated Mr. Dang Xuan Tam, CEO of HD Mon Holdings Group.

Architect Pham Thanh Tung, a member of the Vietnam Architects' Association and a member of the livable project judging council, explained that a livable project" is universal and humanitarian when a residential area or apartment building meets strict standards in terms of planning, architecture, fire safety, technical infrastructure, social infrastructure, and, most importantly, resident satisfaction. Although it may appear straightforward, not every project can achieve these requirements.

First, in terms of architectural planning, housing developments must be recognized in approved planning documents. The building site must be easily accessible to public transit (bus stops, elevated railway stations, and so on), technical infrastructure, and social infrastructure, all of which must be linked to the city's common infrastructure. This assures a steady supply of energy, safe drinking water, and enough drainage systems to prevent flooding.

Second, in terms of investors, they must follow building rules. Planning changes for profit (increased height, density, etc.) are not permitted. Apartments and condominiums must provide fire safety and offer tenants with the optimal circumstances for accessing and using common areas and public services.

Third, residents must respect the Building Management Board's standards as well as the obligations made in the sales contracts with the investor. Because inhabitants come from all locations, backgrounds, and age groups, they must adjust to the apartment living culture, resulting in a diversified society in terms of language, habits, and lifestyles.

Attendees at The Forum on the sustainable development of the Vietnam real estate market

SPREADING GOOD VALUES

The livable project certification adds a brilliant accent to urban living spaces in the broader image of the real estate market, which encompasses both lively and muted characteristics.

Being recognized and awarded in the livable project program acts as important impetus for enterprises with certified real estate goods to strive for excellence in future projects, so helping to improve the quality of urban life. Furthermore, the certification assists inhabitants of these projects in developing a sense of duty to their neighborhood and society, so fostering a sense of neighborliness in modern life.

A livable project must actually be a place for the community, by the community, and fostered to grow and spread the community's positive values. The Business Forum Magazine's livable project program has been, is, and will continue to play the role of a "ambassador" providing useful living components to society, striving for cities that are increasingly livable and pleasant. The initiative is also compared to "nurseries" that strive to improve the quality of life for urban dwellers.

The voting mechanism will be innovative, according to the organizers and judging panel. Above all, it is the desire of society and the people for appealing real estate developments, safe and joyful living environments, and addressing housing and economic demands in the country's new development phase. As a result, the habitable project has become the goal for investors to aim towards.