Vietnam's real estate revolution: Haus Dalat sets new ESG standards with landmark investment

Partnering with Terne Holdings and BTS, ‘The One Destination’ Pioneers Vietnam's First ESG-Standard Real Estate Complex in Da Lat

In a significant move for Vietnam's real estate sector, The One Destination has entered into an investment agreement with Singapore's Terne Holdings and the BTS Bernina Private Equity Fund. This collaboration will see the joint venture acquire a 30% stake in The One Destination, marking a noteworthy step in the development of sustainable real estate in the region.

The One Destination is spearheading the Haus Dalat project, which aims to establish Vietnam's first ESG standard real estate complex. This ambitious initiative is set on five hectares of prime land adjacent to Xuan Huong Lake, a renowned natural landmark in Da Lat. With a multi-million dollar investment, the project is poised to become a hallmark of sustainable development in Vietnam.

Designed by acclaimed Japanese architect Kengo Kuma, Haus Dalat is envisioned as a heritage symbol for Da Lat, a city celebrated for its unique climate and breathtaking landscapes. The choice of Da Lat as an investment destination underscores the city's allure; its cool weather and picturesque surroundings make it an ideal location for eco-friendly developments. “We were captivated by Da Lat at first sight,” remarked a representative from BTS, highlighting the city’s potential as a "natural heritage" site deserving of hosting high-quality real estate projects.

The recent upgrade of Lien Khuong Airport to international status has further catalysed economic growth in Da Lat and the broader Lam Dong province. In the first half of 2024 alone, Lam Dong welcomed five million tourists - a 12% increase from the previous year - with expectations to reach ten million visitors by year-end. This surge in tourism is anticipated to bolster demand for innovative real estate solutions.

As global interest in ESG real estate continues to rise, Vietnam stands at a pivotal moment. The country’s dynamic economy, characterised by an annual GDP growth rate of 6-7% and a burgeoning middle class projected to comprise 40% of the population by 2030, positions it favourably for a boom in sustainable real estate investments.

“Together with The One Destination and BTS, we will create a heritage landmark for Da Lat,” says Caroline Lee, Chairwoman of Terne Holdings, expressing both excitement and enthusiasm for the project. This partnership aims not only to enhance the architectural landscape but also to align with global sustainability goals by adhering to twelve United Nations Sustainable Development Goals.

The One Destination's commitment to ESG principles is reflected in Haus Dalat’s design and operational strategies, which prioritise environmental stewardship and community well-being. “Haus Dalat will be Vietnam's first ESG-standard landmark project,” says a company representative, clearly signalling a new era in the country’s real estate landscape.

With five leading international brands expected to collaborate on this venture, Haus Dalat is set to redefine what it means to develop responsibly in one of Vietnam's most cherished locales.