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Christie’s International Real Estate is breaking through into new luxury territory with an office in Vietnam, the firm has informed Inman.
The brand’s latest venture, S&S Christie’s International Real Estate, was born through a collaboration with S&S Group, a conglomerate of ultra-luxury companies that span the automotive, timepiece, fashion, art and, now, real estate sectors. The company has represented well-known brands like Rolls Royce, Lamborghini, McLaren, Richard Mille, Berluti, Audemars, Piguet and Baccarat.
Helena Moyas de Forton | Christie’s International Real Estate
The new firm is led by Sassy Nguyen and her husband and business partner, Sam Vu, who also own S&S Group. Their flagship office will open in June in the Saigon Hilton, one of the newest developments in the city, which also houses S&S’s Lamborghini dealership.
“With a rich cultural heritage and incredible potential for luxury market growth, Vietnam has been in our sights for some time,” Helena Moyas de Forton, managing director of Europe, Middle East and Africa and Asia-Pacific regions for Christie’s International Real Estate, said in a statement.
“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.”
In the last decade, the real estate market in Vietnam has seen significant growth as a result of a stable economy and growth in manufacturing and agriculture. The country is one of the largest exporters of coffee and rice, and a number of international blue-chip brands have now set up operations in Vietnam, including Samsung and Honda.
Sam Vu | S&S Christie’s International Real Estate
Foreign buyers from Asian countries, including China, South Korea, Singapore, Taiwan and Japan, have increased their presence in Vietnam’s real estate market in recent years, as have luxury Vietnamese buyers increasingly setting their sights on offshore investments in places like London, Paris, Dubai, Australia and the U.S., Christie’s International Real Estate noted in a press statement.
The brand also noted that the Asia-Pacific region is a significant driver of sales at Christie’s auction house, with the region contributing $805 million in auction sales, or 28 percent of the auction house’s worldwide total, in 2023. That figure is also expected to grow after the auction house opens a new headquarters in Hong Kong later this year.
Sassy Nguyen | S&S Christie’s International Real Estate
“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,” Sassy Nguyen said in a statement. “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.”
The firm’s new office will feature interior design conceptualized by Sylvain Mariat, head of design for a European aircraft manufacturer and Mariat Design. In a nod to jet and yacht culture, Mariat will incorporate the five elements of wood, fire, earth, metal and water into the office’s design.
S&S Christie’s International Real Estate plans to expand to Hanoi within the next two to three years, Nguyen added.
Correction on May 16, 2024: An earlier version of this story stated that Sylvain Mariat designed for Airbus, which is no longer accurate.
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