R-Square Partners with Shinhan Vietnam Bank to Provide Total Commercial Real Estate Solutions

Al Square CEO Lee Yong-gyun (right) and Shinhan Vietnam Bank Corporate Head Kang Kyu-won (left) are posing for a commemorative photo.

[Asia Economy Reporter Kim Min-young] RSquare announced on the 6th that it signed a "Mutual Joint Development Memorandum of Understanding (MOU) for Providing Commercial Real Estate Information in Vietnam" with Shinhan Vietnam Bank on the afternoon of the 5th (local time).

Through this agreement, RSquare will provide services such as brokerage, asset management, interior design, employee housing management, and on-site inspection support to Shinhan Vietnam Bank's clients, expecting to expand its influence in the Vietnamese commercial real estate market. RSquare, which established its Vietnam branch last year, has signed about 40% of its total contracts with global contracting companies within just over a year since its establishment.

Shinhan Bank will provide its customers with Vietnamese commercial real estate data held by RSquare, anticipating improvements in service quality and customer satisfaction. Both companies expect that this agreement will also expand their influence in the local real estate market.

Lee Yong-gyun, CEO of RSquare, said, "We will support high-quality data and services to maximize customer satisfaction for Shinhan Bank," adding, "The collaboration between the two companies will provide efficient assistance to domestic companies entering the Vietnamese market."

A Shinhan Bank official emphasized, "Through mutual cooperation with RSquare, we will develop high-quality financial advisory services for Vietnamese commercial real estate."

RSquare is expanding its presence in the Vietnamese commercial real estate market. Recently, it participated in the 'Starlake City' new town project developed by Daewoo E&C in Hanoi, and signed an exclusive contract with local real estate development company KCN Vietnam for the sale and lease of industrial complex land and factory/warehouse spaces covering an area of 5.5 million square meters, providing services accordingly.