Stareal Real Estate Joint Stock Company has been a long-standing member of the multi-industry ecosystem of KLC Group. Established in 2017, Stareal has made a distinct mark in the industry with over 5,000 properties delivered to customers and a nationwide distribution network of partner agencies. The company is gradually affirming its position, earning the trust of a large number of customers and partners while solidifying its reputation in the real estate market.
Amid the fluctuations of the real estate market in recent years, Mr. Phạm Hoàng Phong, CEO of Stareal, shares insights into the company’s direction in the coming period.
Every CEO and company takes a unique approach to business development. What is your strategy for Stareal in the current phase?
With the current pace of urbanization, the demand for housing in Vietnam remains high. Changes in the Land Law 2024, the Housing Law 2023, and the Real Estate Business Law 2023 represent significant policy advancements. As a result, major cities like Ho Chi Minh City still have vast development potential, meaning opportunities remain abundant in the real estate sector.
In the future, as land reserves and housing supply increase, the competition among real estate developers will enter a new phase. At Stareal, I firmly believe that having a clear direction in building a strong foundation is essential, as a solid foundation serves as the inspiration for growth expansion. At this stage, Stareal is focusing on diversifying its product offerings to meet customer needs across all segments.
Additionally, key aspects such as services, customer experience, and brand image are being given special attention, as they are now crucial factors in defining competitive positioning and aligning with our business strategy moving forward.
Stareal’s strengths go beyond strategic thinking; they also lie in the company’s expertise as a professional real estate developer. Given the positive recovery signals from the real estate market, what are your development plans to help Stareal adapt and seize growth opportunities in 2025?
While it is too soon to declare a full market resurgence, the positive recovery signals of 2024 undoubtedly serve as the “cornerstone” for a new growth cycle in Vietnam’s real estate market.
The housing supply in 2024 has recovered in major cities, including Ho Chi Minh City, but remains limited, particularly in the case of legally sound, well-located, high-quality projects. Understanding this trend, besides our existing portfolio and focus on affordable real estate, we are constantly seeking and considering new products that meet strict legal standards and offer long-term value. We aim to create living spaces that harmonize with nature while integrating modern technology.
Alongside our product strategy, Stareal is shaping a long-term development strategy that prioritizes internal training to cultivate a highly skilled and professional workforce. Additionally, we are committed to building a corporate culture with a unique identity, preparing to transition into a property developer role by 2025, and setting the stage for an IPO in the future.
Beyond a well-structured development plan and a strong business strategy, what other factors do you believe are crucial to the growth and market position of a real estate company?
For me, corporate culture must be built and developed alongside business strategy. The cultural values of a company not only attract top talent but also serve as the “perfect brand identity” of a strong enterprise. Trust from partners and customers is not solely based on successful sales but, more importantly, on the company’s mission, values, and the professionalism of its people.
Although real estate is a unique industry, it still follows the fundamental principles of the market. A common issue is that company leaders emphasize corporate culture and core values, and employees find them “inspiring,” yet no one knows how to put them into practice. At Stareal, we regularly collaborate with the Human Resource Development Department of KLC Group to organize periodic training programs on corporate policies and regulations. These sessions cover the company’s journey, vision, mission, corporate culture, employee benefits, and regulations, helping new employees gain a clear understanding of the company and integrate quickly, ensuring both personal and corporate growth.
Thank you for your insightful sharing. Wishing you great success in steering Stareal toward becoming one of Vietnam’s leading real estate developers.
Stareal’s Key Projects in Development…
Stareal has maintained a consistent philosophy: “Creating Value, Building Trust.” With professional, methodical, and breakthrough strategies, the company is actively executing and planning major projects.
Experts predict that Vietnam’s real estate market in 2024 will show promising signs of recovery, with even more positive developments expected in 2025, driven by policy reforms and infrastructure investments. In real estate brokerage, Stareal continues to select high-quality projects, maintaining its position as a key distributor and strategic partner of reputable developers such as Phú Long, Vinhomes, Masterise Homes, Nam Long, Khải Hoàn Land, 276 Ngọc Long, and others. Furthermore, 2025 is expected to mark a new milestone for Stareal, as the company expands its role in investment partnerships with developers.
In the southern region of Ho Chi Minh City, Stareal is the official distribution agent for Essensia Sky – a wellness-focused residential project by Phú Long. This twin-tower development, launched in September 2024, is located on Nguyễn Hữu Thọ Street within the Dragon City urban complex. Designed with Japanese-inspired architecture, the project features a sky bridge, hot spring facilities, and doorstep amenities, offering residents a premium lifestyle centered on green living and wellness.
Another major project in this area is Khải Hoàn Prime, developed by Khải Hoàn Land. CEO Phạm Hoàng Phong commented: “Khải Hoàn Prime is a high-potential project that will become a bright spot in Ho Chi Minh City’s southern real estate market, catering to the growing demand for affordable housing.”
Western Ho Chi Minh City is attracting increased investment as it shows strong growth potential, supported by available land, major road networks, and ongoing infrastructure development. Key projects include the Bình Tiên Bridge and Resolution No. 196/NQ-HĐND for the renovation of the Kênh Đôi canal in District 8. Recognizing this investment shift, Stareal is bringing to market Green River Commercial Apartments, a development featuring long-term ownership certificates and a prime location on Phạm Thế Hiển Street, benefiting from the area’s robust transportation network.
The eastern region of Ho Chi Minh City is considered one of the fastest-growing real estate markets, receiving 70% of the city’s infrastructure investment. With infrastructure upgrades and investors seeking new opportunities outside the city center, this market is poised for strong recovery and growth. Stareal is a distributor of Masteri Grand View, the first high-rise masterpiece in the heart of The Global City, which is set to become Southeast Asia’s iconic urban hub. The project offers a diverse range of entertainment, shopping, and leisure amenities.
With deep market insights, strong financial capacity, and extensive experience, Stareal is strengthening its brand presence in the Mekong Delta by investing in prime land banks in strategic locations. While details are yet to be publicly disclosed, Stareal sees these as promising developments with high growth potential and significant returns in the future.
“The foundation of sustainable success is trust and credibility. Stareal is committed to delivering real value—not just by providing the right products but also by being a trustworthy partner and reliable companion. With the ambition to lead in Vietnam’s real estate market and contribute to society, Stareal will continue to build its brand as a reputable real estate developer that meets international standards and remains the top choice for customers.” – Phạm Hoàng Phong, CEO of Stareal.
