Since ancient times, beauty has always been a tenable philosophy that mankind yearns and strives for, one that is beyond the mortal grasp of the human mind. The very concept also arouses a seemingly endless fountain of inspiration, the beginning of projects whose established values aim to renew the definition of beauty itself. This is a view enthusiastically shared by gentleman Murat Utemisov regarding Diamond Island.
Values that surpass the passages of time
Vietnam is currently considered one of the safest markets for real estate investment, even though it is still experiencing a “warming up” period. Do you agree with such thoughts? And what opportunity will this bring to the Kusto Home project which is currently being established?
The term “convivial market”, in my opinion, is a more accurate term for the Vietnamese economy, which is on a huge development spree thankful to its low inflation rate. The rise in FDI and the operation of several industries have further strengthened economic growth. The real estate market, therefore, is not an exception of such growth. The amount of estates being invested, expanded and marketed is climbing vigorously, followed by an increase in prices throughout the period from 2015-2016, showing a formidable recovery after a rather long “hibernation” period. The increase in product variety and housing quality, moreover, coupled with appropriate pricing policies and favorable terms, have offered customers a wider range of choice, which in turn heats up the market.
In the face of such dynamic activities, the riverside high-end apartment project Diamond Island, under Kusto Home's investment and development, has received positive feedback from both customers and investors. Specifically speaking, the two towers Hawaii and Bora Bora, which were launched in the second half of 2016, were warmly welcomed with over 80% of the apartments being purchased. This has greatly bolstered our belief in the development of the Vietnamese real estate market in the near future.
Could these positive signs be the decisive factor for Kusto Home to invest in and develop a new project in the Vietnamese real estate market?
With its experience in real estate development and management in several countries around the world, Kusto Home conducts plenty of research before deciding to invest in any market. The main elements to be evaluated include: the economy's growth potential both at present and in the future. We also have a particular interest in “safe” countries, as a nation that succeeds in maintaining its political regime and expressing evident economic growth goals is definitely attractive to investment. Secondly, consumer demand plays a critical role, as a product is only made to fill the unsatisfied demand of the market. As for the Diamond Island project - the only island that’s located at the heart of a city - we always remind ourselves that it is not a shelter, a simple form of residence that we're providing, but rather an ideal living space, a green and premium lifestyle that people have been searching for.
As you've shared, more than 80% of the apartments have been purchased since the introduction of the first two towers. So, what is it that gives Diamond Island such charm?
When deciding to invest in real estate, all that we desired was to provide our customers a home in the true sense. Not a HOUSE as in its literal meaning, but a cozy and happy HOME, whose ambience is created by an ideal living space with cutting edge conveniences that seed in every family member a yearning desire to return there after a hard day's work.
Maximizing its advantage of being the only natural island within HCMC, Diamond Island is covered by 86.5% greenery and community facilities. In fact, the green density of the island is 16m2/person, which is the same as green countries like Singapore, Japan or South Korea. In addition, we also provide our residents with superb conveniences such as a private marina, a total coverage of 2,300m2 of water which includes a resort swimming pool and 50metre pool, a Pirate theme park, a Musical & Art Academy for children, a Zen garden, a BBQ garden, spa and a sports complex.
So, do you consider Vietnamese customer’s opinions unpredictable and hard to grasp? What strategies have you and Kusto Home employed to deal with this?
Grasping customer’s opinions has never been a simple task in any market. Now with the fleeting advance in cybernetics and technologies, as well as the constant fluctuations and emergence of new trends, sometimes in just a matter of days and hours, we are obliged to change, adapt and grow. We wouldn't go to such lengths as to proclaim ourselves an international trend-setter, but particularly in Vietnam - we are one of the pioneering units to imprint the global trends in the local market, especially the green, premium living style.
It must also be mentioned that the Vietnamese living standard is rising day by day, especially for the middle class, which heightens the demand for ideal family space and high quality estate ownership. We believe that customers are becoming more demanding when it comes to choosing a place to live, and that they really pay attention to living qualities rather than obtaining a plain, simple house. Envisioning such a thought, Diamond Island is the one project that can actually fulfill each and every one of these requirements, especially for all generations of families (kids, parents, grandparents).
What do you think about your partners and their effect on your business operation?
The right partner plays an important role in creating a successful business and it is not easy to find one. We highly appreciate the importance of any partnership with a view to improving product quality. Kusto is a major shareholder of Coteccons, one of the leading construction companies in Vietnam, and is the main contractor for the project to help meet our strict standards in construction quality and timeline with Techcombank as a financial partner. These are our strategic partners and I do hope, and believe that the collaboration with Vietnamese partners of scale and credibility will not only strengthen customer loyalty but also provide them with plenty of benefits.
Businesswomen, brilliant & potent!
Among your partners and clients, a great proportion of them must be female. Does it strike you that women are becoming more and more involved in several business fields and are playing an important role in modern society?
After many years living and working in Kazakhstan, Russia and visiting over 30 countries around the globe as well as almost two years living here in Vietnam (my first visit to Vietnam was in 1998 and I was back and forth before I moved here), I’ve established quite an objective perspective of women in modern society. Whether in Europe or Asia, women who immerse themselves in the fields of politics and business are always brilliant and potent. Their grace, elegance, diligence and attractive outlook also contribute to their success, even when trespassing onto the “sanctuaries” of men like aerospace, automobile, construction, real estate... They are proclaiming their stances as politicians, chairwomen, CEOs, and leaders of thousands of staff. They are no longer the shadow behind a man’s success, but rather stand out in broad daylight, just like a gorgeous rose blossom, blooming full in beauty and competence.
Moreover, when approaching customers, I’ve come to realize that women are taking the lead in the decision to buy a house – a high-value family asset. Therefore, we always focus on the family values in the Diamond Island project.
How about the “roses” that are currently co-working with you, how do you encourage and assist them?
At Kusto Home, I am honored to have a hardworking and efficient female crew of staff with an all-time high team spirit. Whenever I come across their smile or greeting “Good morning” at cross-department meetings, I feel so fortunate to be able to work here. I highly appreciate the effort and contribution of all of our female staff, acknowledging the Vietnamese tradition for women to fulfill their duties both at home and at work, which is not an easy task even for Western women – those greatly influenced by gender equity and egoism. Thus, we always try to listen to them and assist them in any way possible whenever necessary.
So, what is it about your female colleagues or other Vietnamese businesswomen that you know of that impresses you the most?
As for my Vietnamese female colleagues, I am truly impressed by their management methods and conduct. It seems that they’ve found the balance between the East and the West - between fire and water. Whenever a problem emerges, they will propose sharp reasoning and grave decisions, but at the same time implementing their solutions with flexibility and subtlety.
Despite your relatively short stay in Vietnam, you seem to be quite acquainted with and knowledgeable of the Vietnamese people?
You must have heard of Kazakhstan – a multi-racial nation with a distinctive culture, language and national costume. Moreover, it is also mentioned, historically, as the region with the most nomadic tribes living across vast steppes. That is, perhaps, why Kazakhstanis often prefer moving and can easily adapt to a new living environment while honoring team spirit as well as community benefits.
After I moved to Vietnam, I started by learning the work culture of my staff and their way of thinking, which directly determines their actions.
How about your family, could you share more about your background?
My father worked in politics and his huge personality brought him a great deal of respect from others, and behind him, was an ingenious, strong and fully supportive woman. My parents were the perfect role models to aspire to. And, as a lady chooses her husband after her father’s figure, a man also wishes his wife to resemble the virtues of his mother. My wife is, indeed, a wonderful woman. She’s helped me with raising our children and supported me in every way no matter wherever I go.
Thank you for your sharing!