Martin Gedny – International Marketing Manager
Yardi Systems Limited
+44 (0) 1908 308400
ASIA, November 2010 – Yardi Systems, one of the leading developers of software for investment, asset and property management, announces that Vietnam-based Vincom Joint Stock Company has selected Yardi Voyager™ as its integrated property and financial management platform.
Vincom JSC (formerly the Vietnam General Commercial Joint-Stock Company) was established in May 2002 and is engaged in the development, leasing and sale of Vietnamese real estate. The company has a special emphasis on the high-end real estate market and the development of the most sought-after locations in major urban cities in Vietnam. Its developments are diverse, covering mixed use, retail, office and residential properties.
The company already has significant interests in Hanoi, Ho Chi Minh City and Hai Phong, including developments that boast a total site area of 530,453 square meters. With an additional 7 million square meters of land bank where approval-in-principle has been granted, Vincom has established itself as one of the largest developers and operators of real estate in Vietnam.
When Vincom began to search for a comprehensive software solution to meet its property management, accounting and facilities management requirements, Yardi Voyager’s integrated platform and single database solution became the obvious choice. With its unique ability to manage and consolidate property data, Yardi’s integrated platform will enable Vincom not only to enhance levels of service to tenants but also to increase the transparency of financial reporting back to public shareholders.
Yardi will also provide hosting services to Vincom through its Application Service Provider (ASP). With ASP, Yardi serves and maintains the Voyager application and database for Vincom from its data center. Yardi assumes responsibility for all application updates, network security, hardware, bandwidth and infrastructure, allowing Vincom to focus on its principal business.
“Our ultimate goal of putting such a big investment into this project is to provide the best service while meeting the continuous, varied and growing demands of our clients,” explains Mr. Le Khac Hiep, chairman of the board of directors of Vincom JSC. “As Yardi Voyager is the world-leading property management software, we strongly believe that it will best facilitate Vincom’s business, and we plan to capitalize on its advantages to support both Vincom and our clients.”
Neal Gemassmer, director for Yardi Systems in Asia Pacific, remarks, “We are very excited to welcome Vincom on board as a client. Vietnam is one of the fastest-growing markets globally, and we are proud to be working with the premier local real estate development group in Vietnam. This serves as further evidence of Yardi’s continued commitment to develop and provide innovative real estate solutions which meet the needs of local markets.”
About Vincom JSC
Established in 2002 and listed on the Ho Chi Minh Stock Exchange (“HOSE”) in September 2007, Vincom Joint Stock Company (“Vincom”) is one of the largest real estate companies in Vietnam by market. Vincom became the first Vietnamese corporation to issue an offshore convertible bond in 2009 and was the first real estate company in Vietnam to be selected by Russell Investments for the Russell Global Index in 2008. For more information, visit www.vincom.com.vn.
Yardi Systems has been committed to the design, development and support of real estate investment management and property management software for nearly 30 years. With its Yardi Multifamily Suite™, Yardi Commercial Suite™ and Yardi Investment Suite™, the Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255