INTERNSHIP REPORT

COLLIERS EINTERNATIONAL
RNAT
INT

IO
N

IMINH C
H
C
IT
O
H

TRAN QUANG NGAN

Retail Intern

SUPERVISED BY:
Mr. DALE WATKINS
Commercial Leasing Manager

INTERN:
at Position

UNIVERSIT
AL

BITEXCO BUILDING, 7th FLOOR

19-22 NGUYEN HUE STR, DIST. 1, HO CHI MINH CITY, VIETNAM

HCM - IU

and Ms. DANG THI THU HUONG

Junior Retail Leasing Executive

PERIOD:
90 Working Days
May, 6th 2012 - September, 4th 2012

Ho Chi Minh, August, 24th 2012

TABLE OF CONTENT
Contents
I. EXECUTIVE SUMMARY

II. INTERNSHIP CERTIFICATION

III. COLLIER INTERNATIONAL

1. INTRODUCTION

2. HISTORY

3. ORGANIZATIONAL STRUCTURE
RN

IMINH C
H
C
IT
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H

IV. INTERNSHIP ACTIVITIES

ATI
ON

1. JOB DESCRIPTION
2. ACTIVITIES

3. THE RETAIL SERVICES

V. SUGGESTIONS FOR THE THESIS TOPIC
VII. REFERENCE

VI. ASSESSMENT OF THE INTERNSHIP

UNIVERSIT
AL

TE
4. COMPANY SERVICES IN
Y

HCM - IU

8
10
12
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12
16
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I. EXECUTIVE SUMMARY

This report is to hand in the School of Business Administration of International University. The
report described as my assignment, and is one of the proof of for the internship period that
show what I did, what I achieved, though about...
In term of Summer Semester Internship
Fulltime Internship from: 05/06/2012 - 04/09/2012
At Position: Retail Intern
With Job description:

ERNATIO
T
N
I
N

IMINH C
H
C
IT
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Supervisors:
Mr. DALE WATKINS
Commercial Leasing Manager

Mob: +84 903 332 193
dale.watkins@colliers.com

H
C
U
MHUONG
-I
Ms. DANG THI THU

and

Junior Retail Leasing Executive

Mob: +84 989 230 232
huong.dang@colliers.com

UNIVERSIT
AL

- Identifying potential sites to include in our retail property database by visiting city neighborhoods
- Working with landlords to acquire information pertaining to sites in our retail property database
- Working with various retail tenants to research movements in the retail market
- Conducting general research relating to the retail market
- Assisting in administrative tasks to support the retail department
- Assisting with general marketing and PR related activities to support the retail department

II. INTERNSHIP CERTIFICATION

Comments of Supervisor:
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IMINH C
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UNIVERSIT
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HCM - IU

Mr. Dale Watkins

Commercial Leasing Manager

Comments of Supervisor:
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IMINH C
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UNIVERSIT
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HCM - IU

Ms. Dang Thi Thu Huong

Junior Leasing Executive

III. COLLIER INTERNATIONAL

1. INTRODUCTION
Colliers International is a leading global real estate services
organisation defined by our spirit of enterprise. Through
our culture of service excellence and a shared sense of initiative, we have integrated the resources of real estate specialists
worldwide to accelerate the success of our clients.
Colliers headquarters in Seattle, Washington and more than
512 offices worldwide share a common brand and vision to
provide the best service experience available.
Most commercial real estate firms are either loose networks
of variously owned companies, or a tightly controlled corporate structure. Colliers International has created a unique
operating model, combining the power and accountability
of a global enterprise with local equity and flexibility. We
are backed by the financial strength of FirstService Corp., a
strong, diversified capital partner, allowing us to invest in major client resources.
Business name: Colliers International
Address: Bitexco Building, F7
19-23 Nguyen Hue, Dist. 1, HCMC
Phone: +84 8 3827 5665
Email: hcm.cs@colliers.com
Website: http://www.colliers.com

COLLIERS INTERNATIONAL
AT A GLANCE*

1.8B 1250M
IN ANNUAL
REVENUE

SQUARE METERS UNDER

NEW MANAGEMENT

15,000
PROFESSIONALS

522 62
OFFICES

COUNTRIES

154 B
IN TRANSACTION VALUE
OVER LAST 3 YEARS

*BASED ON 2011 RESULTS

Colliers International is one of the first truly global commercial real estate organisations,
formed more than 30 years ago as a network of independent firms. This collaboration provided clients with expert local real estate knowledge around the world.
2011
2010

2007

Colliers again makes the International Association of Outstanding Professionals - Global

Outsourcing 100 list.
Colliers combines operations with FirstService Real Estate Advisors, forming the 3rd
largest global real estate services company.
Colliers refreshes its visual identity and logo, adopts the tagline "Accelerating Success".
Colliers grows hospitality and project management services with acquisitions of PKF
Hospitality Research, MHPM Project Managers and Roberts Weaver Group.

INTERNSHIP REPORT

2. HISTORY
2005
2004
2002

2001
1995
1990
1986
1985
1984
1979
1978

1976

1957

1932
1927
1926
1922
1898

Colliers MN launches the Global Strategic Plan and incorporates the tagline "Our Knowledge is your Property".
First Service Real Estate becomes a majority shareholder of Colliers MN, providing equity
to expand the business.
Colliers MN acquires the remaining 50% share of Colliers Jardine and the combined
group takes on the name Colliers International, although it retains the trading name CMN
to distinguish itself from other independent members of the global Colliers network.
Doug Frye becomes CEO of Colliers MN. Frye becomes only the 6th CEO in more than
100 years of operation.
Colliers MN shifts the global head office to Seattle.
Revenues top $1 billion for the first time
Colliers MN continues expansion into Eastern Europe.
Colliers MN surpasses $100 million in revenue.
Colliers expands into emerging markets including Central Europe and Latin America
Asia Pacific grows operations to 20 markets
US and Canada join Colliers
MNM and Colliers International form an alliance under the leadership of John Mc.Lernon.
The firm reports revenue of $4.5 million.
MNM opens offices in Edmonton and Seattle. By the end of 1978, MNM has 11 offices
and 360 employees in Canada and the U.S. 1977.
John McLernon becomes president and chief executive officer of MNM in Vancouver.
Several successful property companies merge and take the name of their mentor, Ronald
Collier, a Chartered Surveyor who was instrumental in the development of the profession
in Australia.
Colliers Property Consultants rapidly grows throughout the Asia Pacific and Canada on an
independently owned, referral network platform. 1957.
J.P. Nicolls dies at age 87, completing 57 years of service to the firm. Dean Mansell becomes President of MNM. Dean also served on the Canadian Association of Real Estate
Boards and as president of the Vancouver Real Estate Board.
Macaulay dies and J.P. Nicolls becomes the firm's second president.
MNM and Company post a profit of $57,000.
The firm incorporates and Charles Macaulay is named its first president.
Ronald Maitland, who joined the firm as a clerk in 1904, becomes a partner and the firm
becomes Macaulay Nicolls Maitland (MNM).
Macaulay Nicolls registers in the province of British Columbia, Canada currently the
13th oldest registered company.

INTERNSHIP REPORT 7

3. ORGANIZATIONAL STRUCTURE

GENERAL DIRECTOR
Peter Dinning

FINANCE ADMINISTRATION
CFO - Office Manager
Thoa Le

General
Accountant
Hien Ho

Payable
Accounant
Huy Dang

HR-Admin
Thao
Nguyen

IT Manager
Tri Phan

Driver
Cuong

Driver
Tanh

INVESTMENT SERVICES
Investment Services
Manager
Hieu Do

INDUSTRIAL
SERVICES

RETAIL
SERVICES

Leasing Manager
Dale Watkins

Junior Leasing
Executive
Xuyen Phan

Retail Interns
Tung Nguyen
ail
Interns
RetailNguyen
Interns
Tung
Ngan Tran
terns
Tung Nguyen

INTERNSHIP REPORT

Landlord
Representation

Senior Leasing
Manager
Rose Quan

Leasing
Executive
Dung Doan

Leasing
Executive
Khanh Tran
Leasing
Executive
Ha Pham

Leasing
Executive
Hien Nguyen

OFFICE
SERVICES

RESIDENTIAL
SERVICES

Senior Leasing
Executive
Rose Quan

Leasing
Executive
Huong Dang

Secre
Thao N

BFT

Leasing Manager
Dale Watkins

Senior Leasing
Executive
Dong Nguyen

Leasing
Executive
Vy Tran

KAP

Senior Leasing
Executive
Dong Nguyen

REE Tower

Leasing
Executive
Hung Le

PVGasTower

Leasing
Executive
Huong Dan

MANAGING DIRECTOR
Peter Small

RESEARCH, VALUATION &

ADVISORY SERVICES
Associate Director
Renee Kha

etary
Nguyen

ng

REAL ESTATE
MANAGEMENT
SERVICES

Tenant
Representation

Senior Leasing
Executive
Rose Quan

Leasing
Executive
Huong Le

KAP Property
Director
Norm Kisken

Property Manager
Sinh Vuong

REE/Etown
PropertyDirector
David Jackson

Asst Property
Manager
Thuy Dinh

RESEARCH
SERVICES

IPC Property
Manager
Quang Dang

Research Manager
Giang Nguyen

Researcher
Nhu Dinh

VALUATION &
ADVISORY
SERVICES

Finance Analyst
Manager
Thuy Vo
(Maternity Leave)

Financial Analyst
Yen Pham

Financial Analyst
Nam Nguyen

Valuer-Team
Leader
Thuy Phan

Mortgage Valuer
Hung Le

Valuation
Interns
Trung Nguyen

Valuation
Interns
Hien Tran

INTERNSHIP REPORT 9

4. COMPANY SERVICES
Colliers International offers a comprehensive portfolio of real estate services to occupiers, owners and investors
on a local, regional, national and international basis.
The services that Colliers provide:
Tenant Representati on
Landlord Representation
Real Estate Management
Investm ent Servic es
Valuatiaon and Advisory Services
Marketing Advisory
Legal Advisory

10

Tenant Representation

Colliers tenant representation teams are experts at crafting real

estate strategies to suite current and future needs including:
Guide stakeholders through the selection process;
Provide in-depth analysis of market conditions and trends to
ensure the best possible lease/purchase choice is made;
Identify potential hurdles and top tenant mistakes to keep your
relocation or renewal process on target with minimal disruption
to your business and productivity.

Landlord Representation

Landlord leasing teams provide a clear overview of competing

properties and market trends. The easing specialists help to:
Identify competitive advantages and opportunities for improvement;
Create a specific go-to-market strategy tailored to your business
needs;
Apply best-in-class marketing tools to segmented targets and
generate strong interest and feedback from prospects.

Real Estate Management

While most firms just quantify asset value on a balance sheet, Colliers take into account factors such as tenant loyalty, the relationship and regular contact between managers and tenants, top tenant service requests and new opportunities for mutually beneficial
tenant collaboration. These factors are proven to add asset value
over time by reducing turnover and operational costs and improving a buildings reputation in the market.

INTERNSHIP REPORT

Investment Services

We work with national and global institutions and investors to

identify, evaluate and select assets that best complement their
portfolio, property performance, income goals, and risk profile.
This often requires complex analysis and innovative thinking to
provide a defensible, well-researched strategy for asset acquisition

Valuation and Advisory Services

Our ability to provide a professional and accurate property valuation relies on a combination of the professionalism and specialized training of our valuers, compliance with the International
Valuation Standards and RICS standards, and the high quality of
available market data. Continuous market research programs give
us an abundance of market knowledge and allow us to provide a
high level of service.
The accuracy and preciseness of value estimates is ensured via the
use of specialized valuations software. For clients convenience all
work files and reports are uploaded on a virtual data room.
We are experienced in the valuation of a wide range of property
types across all of Southeast Europe. Every valuation made by
Colliers International meets the highest international standard.

Marketing Advisory

Once youve entrusted us with your business, Colliers will execute a detailed marketing strategy based on your targeted goals
for the property. Our integrated approach to property marketing
includes considering the entire go-to-market cycle: targeting the
right audience, positioning the property, developing the creative
materials and timing the sale or lease.

Legal Advisory

No matter whether a retail, office, industrial or residential project

operational or under development - legal team will provide support in drawing up tenant relations agreements, and subsequently
supporting the property management process. Colliers also offers
legal services in various processes such as real estate acquisition
and disposal, condominium ownership matters, planning documentation such as construction permits and licenses, legally binding agreements with subcontractors, financial institutions and
partners, title and land registration, and insurance.

INTERNSHIP REPORT 11

IV. INTERNSHIP ACTIVITIES

1. JOB DESCRIPTION
The intern position is much different than my friends also said: You will apply to intern at a company. The
company there will accept a very best student and provide them a seat on the company. Day by day, you will
seat there at watch a lot of news and waiting for the end of the day in boring. Sometimes you will watch out
other people who will call you for a cup of tea, typing, photocopying and some kind of jobs that do not need a
best student.
So, very negative thinking I have up to now. I dont have to seat day by day, I dont have to wait for somebody
to call me for photocopying or typing. I spent almost my time to explore. I mean explore the job, explore the
knowledge of Real estate, explore the city and some kind of master plan that I ever do.
The job description that I had in the requirement is below:
Retail Interns will be responsible for assisting the Commercial Leasing Manager and Retail Leasing Executives
in daily tasks including, but not limited to:
Identifying potential sites to include in our retail property database by visiting city neighborhoods
Working with landlords to acquire information pertaining to sites in our retail property database
Working with various retail tenants to research movements in the retail market
Conducting general research relating to the retail market
Assisting in administrative tasks to support the retail department
Assisting with general marketing and PR related activities to support the retail department

2. ACTIVITIES
2.1 District Site Research:
Research on the potential site such as Dist. 1, 3, 10, 5 and some other place that the tenant want to build up a
brand name or want to broaden the market such as: KFC, Lotte,
The site is a resident house face of the street. The house they are living in has more than 1 floor that they want
to rent the ground space to have more money, or they just build the house for rent. The broker of my company
will travel around the area (district) to collect the data about the rental house.
The data that we want to collect is: Address, Phone number, size of the space for rent, the price for rent (a
month) and the commission fee (amount of money that the landlord agree to pay for the agent for them to
introduce somebody to rent)
The data we collect will sum up in database and archive. The customer will contact Colliers for helping them to
find the area that satisfies them. For Example:
MARKET OVERVIEW
In 2Q 2012, the total retail supply is recorded at
727,900 sq m, up 12% q-o-q. The leading suppliers
are shopping centres and supermarkets.
Primary areas for large scale retail development in Ho
Chi Minh City are District 1, District 7 and Tan Binh
District which will introduce approximately 320,000
sq m to the market. Also, thereare new and planning
projects located in District 2.

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INTERNSHIP REPORT

MARKET OPERATION
HCMCs retail market is facing competitive pressure
to attract tenants. Some developers are now offering
lower rents and more incentives to attract tenants.
The average occupancy rate in 2Q 2012 was approximately 84%, down by 7 percentage points q-o-q. The
highest occupancy rate is recorded for department
store at 99%, an increase of 1 percentage point q-o-q.
Retail podiums overall reached onlya 68% occupancy
rate.
The average rents for shopping centres, retail podiums and department stores are recorded at US$64/
sq m/month, a significant decrease of approximately
9% y-o-y due to the lower rents of retail centres in the
non-CBD districts. However, retail spaces in prime
locations still command rents over US$100/sq m/
month. Many retailers have offered promotions such
as discounted pricing, additional promotional products, etc in order to encourage consumers.
Total retail sales of goods and services of Ho Chi
Minh City only increased by 8.9% y-o-y.

OUTLOOK
In 2H 2012, approximately 150,000 sq m of retail
space is expected to enter the market, equivalent to
20% of total current supply. New retail project development located in fringe areas of CBD such as Pico
Plaza (Tan Binh District) and Pandora City (Tan Phu
District) will provide 94,000 sq m, accounting for 62%
total new supply of 2012.
Vietnam has dropped out of the top 30 in the Global Real Estate Development Index produced by
A.T.Kearney due to inadequate infrastructure and
high rentals. However, Vietnam still has a certain attractiveness owing to the current size of market as
well as growth potential, especially among the large
young population.

INTERNSHIP REPORT 13

2.2 Office Tenant Research:

Research from about 40 offices building in the area of Ho Chi Minh City for a database of tenant inside the
Building.
The research includes all of the company on every floor of the Building. The, from the specific floor, I estimate
or calculate the area (the square meter) that the tenant agree to rent in that building. For that reason, Colliers
will know about the rental rate of that building (Tenant Representation will find out the rate) and the tenant
area. So, when the agreement of the tenant with the Office Tower Management is end, Colliers will ask them to
find another office area. If they agree, we will find for them the building that they satisfy.
Some of the Office Tower that Ive done so far: Saigon Center, Saigon Tower, Central Plaza, Diamond Plaza
So, with our research about Office Tenant, the Research Department came up some data below
MARKET OVERVIEW
The total office supply in HCMC was approximately
1.3 million sq m NFA from 164 office buildings. The
downward trend in rental rate is continuing to create
more pressure for the developers.
Most office buildings in the CBD and non-CBD offered promotions, free rent for the first two or three
months of new leasing contracts, flexible leasing
term, concessions on parking, signage provisions
and services in order to attract tenants.
MARKET OPERATION
The average rents across all grades, exclusive of service charge and VAT tax, was US$20/ sq m/ month
in 2Q 2012. The average occupancy was recorded at
88.2%, a decrease by 2 percentage points q-o-q.
Grade B and C office buildings achieved average occupancy rates of 88% and 89%, respectively. The average rents were at US$20 & US$16.3/ sq m/ month
for grade B and C respectively.
v
In the second half of 2012, HCMCs market will realize approximately 65,000 sq m GFA of office space
from 6 projects within 2h 2012, which could continue to put pressure on the occupancy rate and rents.
The new supply is expected from The President Place,
Times Square, Le Meridien and HMTC. District 1
accounts for 45% oftotal future supply in HCMC up
to the period of 2016.

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INTERNSHIP REPORT

2.3 The Master Planning Project:

To study about the Ho Chi Minh city Master Planning that comes to build and finish up to 2020. Colliers research about the Master Planning that help us to know whether the City want to develop the infrastructure.
Those of the Master Planning for example:
- The Metro-line 1,2,3,4,5,6: The Metro station underground at Ben Thanh. Those infrastructure will help the
City to open up another transportation and reduce the traffic-jams.

INTERNSHIP REPORT 15

- The Highway Ho Chi Minh City Long Thanh Dau Giay: 55% of the highway is complete. Then we have the
very straight way from Dong Nai to Ho Chi Minh city, they will contribute to the traffic and help us to reduce
the time travel from Dong Nai to Ho Chi Minh
Cost

o
o

932,4 million USD

ODA of JICA: 516,5 mil USD
OCR of ADB: 410,2 mil USD

Construction Stage: 55%

Locations
o
District 2, Dist.9 of HCM
o
Long Thanh, Nhon Trach,
Cam My Thong Nhat of Dong Nai
Area/Scale
o
Length: 55km
o
Velocity: 100-120km/h
Completion date: In waiting for Investment of the final route
Project Planned: 2013

- The Long Thanh Airport: Ho Chi Minh city plan to build the International Airport that will help the Tan Son
Nhat to broaden the scaleAnd a lot of plan that we collected. The data collect include the cost, investor, location, scale and some information.

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INTERNSHIP REPORT

3. THE RETAIL SERVICES

The Retail Team in the organizational structure includes me and my friend and our 2 supervisors. The retail
team is another part of the Leasing Service that will take care of the requirement from the customers. The customers do not want an office area because they are a business, showroom that need a place face to the street, for
example, KFC, Lotte, Pizza hutthey need an area that will attract the people and easy to use their product.
The problem of the retail department is to find the location that suitable for customer in a suitable location,
a reasonable price and effective area that make their business run smooth. However, follow the Ho Chi Minh
City Master Planning, we try to identify the potential site and area that come with the traffic. When their is a
plan to complete for example, the Highway station, Central business...there are a very attractive area that customers and also the resident prefer.
So, to identify the potential site and prove for the customer the importance of that site, we must have a plan to
do that.

V. SUGGESTIONS FOR THE THESIS TOPIC

In the problem above, we try to satisfy the customer. When we choose the retail site, we must know whether
the site is suitable or not. For example, when we find the site for customer who business is fastfood, we must
know the location and become advantage for them to do business. Then the topic I would like to research is:
Factors that affect people in decision to choose location in starting or expanding the market of Fast food
product.

INTERNSHIP REPORT 17

VI. ASSESSMENT OF THE INTERNSHIP

1. What skills and qualifications you think that you have gained from the internship?
The day I intern at the Colliers Company, I have tried a lot to adapt with the jobs here, very urgent job. So, what
Ive learnt is to practice to be on time, thats what sometime I lack of. I perceive that to work in the environment
of business, the importance is not only I done the project before deadline, but also i must be on time.
However, to complete any project before deadline, the second thing is important to, that is you must arrange
the level, the size of the small part of project. So, when you finish arranging the work, you will complete it in
the shorter time. Thats why sometimes I think that I cannot do that project in the given time, but actually I can
do it may be shorter time.
2. What kind of responsibilities you have undertaken during the internship period?
In the internship time, I realize that I joined in a lot of project and try to do as an official staff of Colliers. Thats
mean Im not an internship student that can do some small job which is not important. Some projects that I
joined in, they are a part of the large project that the company carry out, for example:
-
Office tenant research
-
Japanese company in Vietnam Project
-
Ho Chi Minh Master Planning Project
So, I think that the company, also my supervisors they give me and my internship friend a chance to do the real
work. Therefore, the responsibilities of me I think its not for an internship student, Its the same as the staff of
the company.
2. How do you think the internship will influence your future career plans?
When I decide to apply to Colliers to intern here, I dont think that I will work a lot like that. The real estate
knowledge is very new and surprise. Sometimes I think the jobs that refer to Real estate is so hard and I always
in a rush-hour. Theres some day I came back home and feel very tired, and sick also. But Im not giving up. I try
and try. So, when the time to internship here ran out, I feel very normal about the jobs I had done. I think that
when I practice to work at Colliers, I will very strong and active. So, now I like to be challenged. It seems like
real estate for whatever job I do thats not a problem of hard or difficult. As the job of Office Tenant Research,
the first time Im very nervous, later I feel that so easy.
3. How do you think the internship activities that you carried out are correlated with your classroom
knowledge?
So, I think its just a little bit help with the knowledge in the book. When I apply to Colliers, I have no knowledge that referred or correlated to my classroom knowledge and real estate. But, I learned a lot when Im in
the real life, real work. My classroom knowledge is so boring. Some knowledge in the book is so theoretical,
we learn and learn and to understand a lot. But in the real life, business has no specific theory. The book is
somehow like a solution book to the present situation. You just study and study that solution, you know how
to face with that problem, but you dont know the problem is changing and it will much more different when
you know the solution. So, business is not Math. They do not have any one-immortal-principle. You better look
from inside the business into what you want to learn.

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INTERNSHIP REPORT

VII. REFERENCE

Colliers International. [About Us]. Retrieved August 20, 2012, from: http://www.colliers.com
Colliers International. [Home Page]. Retrieved August 20, 2012, from: http://www.colliers.com
Colliers International Vietnam Research Forecast Report 2Q2012 ENG (2012), P.8-12.
Mng li Metro. Retrieved August 20, 2012, from: http://www.planic.org.vn

INTERNSHIP REPORT 19