The Need and Challenges of Developing High-rise & Mixed-use Projects. Le Yen Thi, Managing Director, Lavenue Investment Corporation

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1 The Need and Challenges of Developing High-rise & Mixed-use Projects Le Yen Thi, Managing Director, Lavenue Investment Corporation

2 Earth Surface: Land vs. Water 29% 71% Source:

3 Number of World Population since 1700 It took the human species: - 300,000 years to reach 1 st billion years to add 2 nd billion - 33 years to add 3 rd billion years to add 4 th, 5 th, 6 th, 7 th billion Source: United Nations World Population Prospects

4 Population Growth in Developing Countries Source:

5 Density & Urban Population: Source:

6 Density & Urban Population: Source:

7 Urbanization: 1955 Europe & North America Source:

8 Urbanization: 1965 Latin America Source:

9 Urbanization: 1975 China & Elsewhere Source:

10 Urbanization: 1985 Asia & Africa Source:

11 Urbanization: 1995 Latin America vs. Europe Source:

12 Urbanization: 2005 Almost 50% Source:

13 Urbanization: 2015 Africa & Asia Source:

14 Urban Density & Energy Consumption Compact cities consume less energy and time Source: Newman et Kenworthy, 1989; Atlas Environnement du Monde Diplomatique 2007.

15 Urbanization & Land-use Maximization 9 building typologies for 2000 residential units Source: Adrian Smith & Gordon Gill Architecture LLP

16 The Need of High-rise & Mixed-use Projects - Environmental & Social & Commercial & Operational - High-rise & Mixed-use - Big city centers Source: - Hanoi's Panorama & Skyline Gallery

17 Basic Challenges Project development - Legal - Financing - Market Project management - Safety - Cost - Quality - Schedule Source:

18 Challenges in Developing Countries - Less experience - Lack of international consultants - There is no real local general contractor Source:

19 Feasibility Study - Using in-house team - Over estimate revenue - Under estimate cost Source:

20 Changes - Hotel operator change - Consultant changes - Size & height & function changes Source: Lavenue Investment Corporation

21 Hotel Operator - Selecting preferred brand - Doesn t have exit strategy - Premature MOU negotiation Source:

22 Consultant - Selecting cheapest / biggest / most famous consultant - Relying on key personnel of consultant - Using design-build model Source:

23 Design - Not doing constructability review - Not checking material availability - Not having Value Engineering & FTF design workshop Source:

24 Procurement - In-house expertise to tender complex packages - Hiring local contractor instead of regional / international contractor - Controlling construction budget information Source:

25 Construction - Construction segregation - Late packages - The last 5%

26 Operation - Pre-opening planning - Shared facilities management - Property management Source:

27 People - Hiring right people - and retaining them - Coordination with consultant & contractor & operator

28 It s not going to be easy But it will be worth it Thank you! Source: - Hanoi's Panorama & Skyline Gallery