Stephen Wyatt began his career in the dynamic London property market before expanding into the emerging markets: first Africa and then Asia. He joined Jones Lang LaSalle Vietnam in September 2013 with over 20 years’ experience and has responsibility for JLL’s overall business operations in Vietnam.

How did you get into the real estate industry?

I grew up in the UK and after leaving high school I started working for a construction company in their estimating/pricing department. This gave me an insight into the real estate industry. After 3 years I decided to study Real Estate at University in Edinburgh. Following University I worked in London for 10 years for some of the largest global real estate consultancies. London is one of the most dynamic and exciting real estate markets in the world and this is where I developed a real passion for the industry.

What are some of your career highlights?

• Working in three different continents: Europe, Africa and Asia, with some of the largest real estate consultancy businesses.
• Managing and building businesses in emerging markets.
• Managing and motivating people in different countries.
• Adopting and understanding different cultures.
• Advising on some of the highest profile development and investment transactions in all markets that I have worked.
• Always working to the highest levels of professionalism, honesty and integrity, even if that means not winning every instruction!

What are the biggest issues currently facing the industry in Vietnam?

The real estate market is still in its infancy in Vietnam and that presents challenges. This includes lack of transparency, limited availability of good quality stock, developing legal structure, bureaucracy, and a vast difference in local versus foreign investor pricing expectations. On the flipside, the economy is one of the fastest growing in the world and Vietnam is becoming a genuine contender for manufacturers looking to set up operations outside of China.

How has the industry changed in the time you have been involved with it?

The industry has changed dramatically over the past 15 years. The speed and efficiency of doing business has improved and the quality of service we now provide to our clients is better than ever. Clients have become more and more demanding so we have to adapt and listen their needs. We have become a truly global company and the services we provide in Vietnam are the same as we provide in any other country around the world.  Client care is always our top priority.  

What changes would you like to see over the next two to five years in the industry?

We are entering a new phase for our industry.  JLL is investing heavily in new technology that will ensure we are ahead of our competitors and continue to provide our clients with the very highest levels of service and data on a global basis.  Our industry has to evolve and change with the times by introducing new technology and we are always looking at new and innovate ideas. At the same time we are very conscious that this remains a people business and hiring the best people in the market will help continue establish ourselves as the leading global real estate consultant.

What advice do you have for people who are just starting out in similar careers?

Build a strong network of contacts, listen and learn from senior professionals, work hard and be passionate. If you want to stand out in an interview carry out lots of research and understand the property market that you intend to work in.  

What do you believe is a unique factor of doing business in Vietnam?

Doing business in any emerging market takes a lot of patience and understanding of the local culture and their way of doing business.

What is your favourite holiday destination in Asia?

My favourite Asian holiday destination is Vietnam.

What’s your outlook for Vietnam for the next year?

We are predicting a very strong year for the Vietnam in all sectors of property market in 2017.

Where would your next purchase be?
In the UK.

More from Stephen

What does the end of US participation in the Trans-Pacific Partnership mean for Asia and the Mekong Region?

Opportunities abound for home builders in Ho Chi Minh City

Why is Vietnam firmly on the radar of foreign investors?

Ho Chi Minh City report: The opportunity lies in building homes