Best Developer Dalat - Dai Phuc Development
Dalat is one of the most charming places in all of Southeast Asia. Boasting a cool climate and rich history, it is the perfect place for getaways with more and more people now choosing to retire here. While Dalat is home to several stunning projects, no developer has managed to capture the essence of the region quite like Dai Phuc Development, winner of Best Developer Dalat at the Dot Property Vietnam Awards 2017. Dai Phuc Development CEO Barry Israel shares with us the firm’s goals and ambitions and explains what makes Dalat such a special place.
Winning Best Developer Dalat is a prestigious honour and shows you are leading the way when it comes to real estate in the region. What makes Dai Phuc Development stand out? What are some of your unique selling points?
Our location and our design. La Vallee de Dalat overlooks a lush valley and rolling mountains, on the cliff of a hillside next to Bao Dai Palace II. This hillside location allowed us to design villas that feature breathtaking views from spacious terraces or verandas on each level. While giving a feel of the countryside, the villas are five minutes from the city centre and the beautiful Dalat Palace Golf Club. The project is the only guarded and walled private luxury compound in Dalat. The villa designs carry forward the French colonial architectural heritage of Dalat from an overall design perspective, but with modern features one would expect from a high-end, luxury development.
Due to its location, geography and climate, Dalat is a unique market. How is working here different from say HCMC or the popular coastal cities?
Throughout Dalat’s history, the city has provided a respite from the heat and humidity found throughout the rest of Southeast Asia. Dalat’s cool climate is unique in the region. This means the villas are designed differently than those built for the heat, humidity and pollution in the big cities. For instance, the villas have no air conditioning. It’s unnecessary. Instead, every floor of each villa has a wood burning fireplace for cool evenings. Dalat is also a second and third home market for investors and a retirement destination. The villas are designed for these markets offering large family spaces at least four bedrooms and six to eight bathrooms, all designed for families and entertaining.
Vietnam has become a market full of savvy buyers with discerning tastes. What are some of the innovations you have utilised to ensure you stay ahead of the competition?
First, we made a decision to construct all the villas prior to starting to market. You are right that Vietnam has sophisticated buyers. Because we are marketing to the top end of the market, we felt that these buyers want to see a completed villa rather than a rendering and a promise of what is to come. Second, we have used all top quality materials. Our wood flooring is imported American white oak. Our stone is all imported from Europe. Our kitchen and bathroom fixtures as well as all hardware are the best available. We are able to offer super quality construction with beautiful features all designed to compliment the gorgeous views which are the highlight for any buyer and something not available anywhere else in Vietnam.
Dai Phuc Development was one of the first developers to introduce the idea of building custom homes in Dalat. What has the response to this been? Do you think this is something you will continue to do at future projects?
The response has been amazing. The project has been featured in magazines around the world. As a result, we have a constant stream of persons wanting to see the first high end project developed in Dalat. We are only now beginning sales so we are hopeful that the interest we saw during construction translates into successful sales.
La Vallee de Dalat draws inspiration from the region’s history while maximising the views. How important was it to not simply focus on one style or design, but instead incorporate different elements? Do you think this is something buyers are able to recognise and appreciate?
Prior to starting buying land in Dalat, we were the owners of the Dalat Palace Hotel, the DuParc Hotel and Dalat Palace Golf course in Dalat. As a result, we developed a strong sense of Dalat’s history and an appreciation of Dalat’s unique architecture. So our first direction to the architects was to design villas consistent with Dalat’s history. The exteriors of the villas achieve this goal. But we wanted the interiors to be modernized with all the features one would expect to find in high-end villas from large rooms and spacious and well-designed kitchens to large wrap around verandas. But all of these design features were secondary to focusing anyone who comes into a villa on the gorgeous views. Those who have visited clearly appreciate what we have done. Invariably, anyone who walks into the main door of any villa is immediately drawn to the veranda and the views.
What are Dai Phuc Development’s plans for the future? What can consumers expect to see from your firm moving forward?
Well, we will finish the final villa under construction. But we own other land that’s in a great location with panoramic views of the city and surrounding forests and are looking at our development options. One idea we have is to develop villas to be put into the short term rental market appealing to high-end tourists through Airbnb and other similar marketing outlets.
What are the benefits of purchasing property in Dalat from the perspective of a foreign buyer?
La Vallee de Dalat is one of the 12 projects in Lam Dong Province approved for sale to foreign buyers. Dalat has no land left in the city with views or security like we have. Land prices in Dalat are going up quickly because there is so little left. We believe there will be substantial escalation in land and property values making a villa an excellent long term investment. In addition, Dalat offers time away from the heat and pollution now permeating SE Asia. We think that parents with children will seek out Dalat as an alternative holiday location. We also think that a buyer’s return on investment, for those buyers who want to rent their property on the short term market, is very promising.
What does it mean for Dai Phuc Development to win Best Developer Dalat at the Dot Property Vietnam Awards?
We are thrilled and proud that our project is being recognized again by such a prestigious organization as we know Dot Property to be. It is very rewarding to have our vision and hard work recognized.