“The domestic growth space of Vietnamese real estate developers is still wide open, but for those with far-sighted entrepreneurs, it is not early to prepare for the long-term future. Hai Phat will be like big waves on the sea to bring the boat Success to new berths”- Do Quy Hai Entrepreneur.
Rarely appears on the newspaper, but businessman Do Quy Hai is not a strange name in the real estate market. He is the founder and leader of Hai Phat Invest, one of the largest real estate companies in the North with annual revenue of thousands of billion dong.
Among tree and tree enthusiasts, Mr. Hai is a famous one with many rare plants but also because of his philosophy of life, which he blew into his trees.
Talking to Mr. Hai during the hottest day of the year in Hanoi, the yellow sun shone brightly on the ornamental garden having various of trees. The most interesting impression about this entrepreneur is not the orientation and goals of Hai Phat Invest, but the story about trees, stone, and the human philosophy that he “collected” after hours and hours of plants. He said, tree life is like human life. The plants also have souls, and need to be treasured and shaped not to live a lifeless life.
The valuable reward is the passion of colleagues
On the media, he seems to be quite tight-lipped, although he is mentioned by the real estate businessman with respect because because he is standing behind a series of big projects on the northern market. This is due to being busy, familiar with quiet life or for something else?
I think, I’m not a tight-lipped person. In the business world, I have many friends, but there is no habit of exchanging too much about life.
Not that I want to hide or have nothing to say but just feel what the individual things will belong to individuals personally. I am not in showbiz but doing business so I think what I do is more important than personal affairs.
Being in contact with many friends, who are businessmen, officials, also ordinary people, so I think it is important to share in the right time and especially to the right people. I say less but I do more, so, really made them understand and trust me.
In fact, in many Group’s events, I am also quite proactive in sharing the views and ways of operating enterprise with investors, organizations, financial institutions, and with my own employees.
At these events, all questions and all issues are directly discussed, are explained in a thorough way. I do also not hesitate to share my thoughts about every issue, to make all staffs understand that what you do is right and can bring true value.
Based on reliable steps, Hai Phat Invest has gradually become a strong brand with many good projects trusted and welcomed by customers and investors. Inside the company, I am also proud of a sustainable Hai Phat Invest team, solidarity with modern management model, capable and professional personnel system from top to bottom. With Hai Phat Invest, I often say that the land fund is an advantage, but people are the foundation for success.
Therefore, since our formation 15 years ago until now, we have always focused on building a solid human resource foundation to deploy plans, goals, vision for 5 years, 10 years, 15 years and even 20-30 years.
Everyone understands that people are the foundation for every success. But to balance the ideal of dedication and the real, existent stories about rice, about daily money. In the context of a booming real estate market, good staffs are always invited, even towed, how you can hold them when external opportunities are various,in which there would a higher salary than in Hai Phat?
You’re right, but I think it’s not enough. Obviously, all you do are for life for yourself and your family. However, for each person, apart from the story of earning a living, people need both understanding and respect. When they come to work, in addition to rewarding materially, they must feel that they are working and recorded. Thus, they are ready to be creative, willing to devote.
Once the company scale gets bigger, the company will need more and more creativity and dedication of the employees for bigger and more distant “destinations”. Not to mention, the larger the scale, the more external the impact factor is, the more powerful the machine needs to be in order to manage the growing amount of work.
Therefore, building an environment and working culture is extremely important. Why with the same job, the same volume, there are some companies that pay higher salaries but good staff don’t want to come? Simply, they find out that this place was giving them the most comfort, giving them the most creative space, and finally the best promotion opportunity.
When people are passionate about something, they will devote themselves and make less calculations. If an organization gathers many individuals like that, that organization will certainly succeed. That’s what we are trying to build at Hai Phat Invest – a working environment for passionate hearts and a shared belief.
It is said that, not only is a successful businessman, Mr. Hai is also a “connoisseur” of trees and rocks. Is it merely a hobby or does it give you any views on human philosophy and corporate governance?
I also do not understand what “connoisseurs” mean, but I have fun with trees and rocks and also spend a long time to learn and study about it, although I am quite busy.
The times of “living” with trees and rocks not only help me to calm down, balance work pressure, but I also imbue the philosophy that the “sage” ranks have left in this art.
The basic principle when playing ornamental plants is that if you want it to grow healthily, you have to have certain knowledge about plant varieties, growth and development cycles. If you want the tree in shape that you want, you must have orientation, pruning and bending right from the beginning. The bending cannot be hasty and subjective, but it should be careful, meticulous, suitable to each stage of development. The haste, lack of knowledge of developmental stage of the tree may lead to failure to create the desired plant, even to ruin the whole tree.
For enterprises also, in the operation of business, leaders need to understand thoroughly each development stage and market situation, thereby giving reasonable decisions, dividing the “big an long term target “into” small, short-term “destinations in each stage, each part.
Since then, both motivating and creating competition for its staff and employees to make more efforts, but also ensure fairness, without limiting the promotion of any employees in the Group. , including senior leaders or ordinary employees if they really contribute to general development.
From such gradual steps, we can go together for a long way of sustainable development.
You must learn to adapt to survive
2018 is a memorable year for Hai Phat Invest, not only because it was 15 years of establishment, but also the year when Hai Phat Invest decided to officially list on HOSE at the end of July 2018. The public invests surely want to know the development vision of the Group from the “captain”?
The domestic growth space of Vietnamese real estate developers is still very open, but for far-sighted entrepreneurs, it is not too early to prepare for the long-term future. Hai Phat will be like big waves on the sea to bring the boat Success to new berths.
When studying and reviewing, we find that the current capital market has the potential and the opportunity to take advantage of. Compared to large countries, Vietnam is still mainly attracted to foreign investment, not only capital but also technology, management ect. We really need them
Listing on the stock market not only brings sustainable resources but also opens up opportunities to connect and cooperate with foreign investors. They have not only financial potential but also modern technology, strategic vision, which will help our projects have a breakthrough and bring Hai Phat brand closer to the public.
Being listed, one of Hai Phat’s goals is clearly attracting capital, especially foreign capital. According to you, what can make them believe in Hai Phat Invest?
As I mentioned before, there are two factors we must think about: vision and people.
Firstly, if we want to attract investment from the world’s leading corporations, we must give them belief, but belief is nothing different from reality,it means you must have real land, and be able to present realizing potential from land.
Secondly, from that ability, we create the desired value for customers, for investment funds and for our own employees. That value includes value in terms of profit and social value.
When consumers’ awareness level is getting higher and higher, if an enterprise is aware of both things, realizing it effectively and practically, that enterprise will receive more value in brand equity. .
Since its establishment, besides creating an ideal living space for customers, bringing benefits to shareholders, Hai Phat Invest also aims to ensure its sustainable development of environment.
The sustainable development strategy of Hai Phat Invest is evident in a series of projects invested by the Company such as The Pride, Roman Plaza, Van Phuc 24 hour commercial house, HPC Landmark 105, or The Vesta Phu Lam. … Not long ago, at the National Real Estate Awards organized by Vietnam Real Estate Association (VNREA), The Vesta Phu Lam project was honored by the Judging Council – consisting of leading experts in the field. real estate sector – highly appreciated and included in the list of the best social housing projects in Vietnam.
We are responsible for the social, environmental and economic impact of our activities. That is the moral foundation for the Company to develop business policies and practices that reflect the highest standards of transparency and sustainability. Hai Phat wants to develop in harmony with the happiness index of residents in particular and social community in general.
Standing at the edge of a large real estate corporation with thousands of staffs and dozens of going projects, Hai Phat is facing a big turning point with its stock on the floor, but throughout prolonged interview, still remaining the image of the calm, relaxed chairman. Sometimes there is a feeling that Mr. Do Quy Hai has a quiet look of a craftsman when he admires a bonsai pot than a businessman with hundreds of thousands of things waiting for.
In fact, after all, speaking like Mr. Hai, life is not much different from the life of a tree. The ancients still said, “the big tree arises from small sprouts, nine-level towers starting from a basket of land, traveling thousands of miles starting from one step.” The business philosophy of dividing the “big and long-term” into these “small, short-term” targets of this businessman is likely to be “enlightened” from the hours of passion with trees and rocks. When we are just a leaf or a large tree, we can live a full and useful life for life.
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In 2018, Hai Phat Invest sets a revenue target of VND 3,200 billion, after-tax profit of VND 450 billion. Chairman Hai Phat Invest said that in the first half of this year, the company is expected to reach VND 180 billion profit and he is completely confident that they will complete the business plan.
Projects that bring the main cash flow for Hai Phat Invest in 2018 can be mentioned as The Vesta, Phu Luong new urban area, Roman Plaza, Trau Quy low building …
In the period of 2019, 2020, Hai Phat Invest will continue to deploy a series of projects and plans for after-tax profits in these years are 720 billion VND and 950 billion VND respectively.
To prepare for the upcoming big projects, Hai Phat plans to issue bonds, issue capital increase and plan to collect about 3,000 billion dong. Specifically, this year, Hai Phat Invest will issue VND 1,000 billion of term bonds in accordance with interest rates to ensure competition and efficiency of capital use. Besides, immediately after listing shares, the company will proceed to raise capital from VND 1,500 billion to VND 2,500 billion.
The capital increase will be made following the route. Firstly, the company will issue dividends, divide bonus shares to existing shareholders, thereby increasing capital from 1,500 billion to 2,000 billion. Then, Hai Phat Invest will increase its capital from VND 2,000 billion to VND 2,500 billion through private issuance when the market is favorable and everything is done after listing.