The Impact of Fostering a Cohesive Community on Building Operations

An ideal living and working environment encompasses not only design or service quality but also a sense of belonging for residents or tenants. Many developers have adapted their business strategies, placing greater focus on community building through fostering interaction and organising diverse events. Addressing the ever-changing demands of customers will bring distinct competitive advantages to both the project and its developers.

The Significance of Community Engagement in Property Management

Ensuring Stable Operations

Community building initiatives create opportunities for developers and management boards to connect with residents and tenants, gaining a deeper understanding of their expectations. Customer concerns serve as a solid foundation for managing units to provide corresponding solutions, enhance the community experience, and improve the quality of operational services. Key factors in community building include:

1. Maintaining interaction through direct and indirect communication channels between residents, tenants, and management boards to ensure continuity and timely resolution of any issues. Traditional channels include direct communication, email, and forms, combined with modern technology.

Savills Asia has developed Property Cube, an application that enables customers to directly communicate with the management team, schedule appointments, and submit requests. This application is deployed in our managed projects across key markets such as Singapore, Hong Kong, and Viet Nam.

Learn more about Property Cube here.

2. Organising events and activities that prioritise community, creating opportunities for residents and tenants to meet and interact, contributing to building a strong sense of belonging.

When residents and tenants connect with the developers, management board, and the community where they live, they develop greater trust, respect, and a willingness to support daily operations. They also experience enhanced happiness and safety, leading to improved mental health.

Improving Long-Term Profits

According to a McKinsey study, successful growth strategies centred on customer experience, aiming to increase satisfaction by at least 20%, can deliver significant financial benefits. These strategies can boost cross-selling rates by 15-25%, enhance business market share by 5-10%, and simultaneously improve customer satisfaction and interaction levels by 20-30%.

By understanding customer demand, developers can focus on organizing engagement activities that not only provide enriching experiences but also contribute to increasing customer loyalty to the project. This fosters a stable customer base in the long term, resulting in improved profits.

Community Building: A Cornerstone of Our Property Management Approach

As part of our global strategy, the Property Management department regularly collaborates with developers and management boards to organize events and activities that enhance customer experience. This contributes to building strong communities, bringing long-term benefits to developers such as increasing brand recognition, and retaining current customers.

Community Campaigns

We have spearheaded several outstanding community campaigns, including Plastic Detox and Gift of Happiness.

• Plastic Detox: This campaign aims to raise community awareness at our managed office and residential projects about environmental conservation and a green lifestyle. The key activity involves trading plastic waste for trees. Residents and tenants can experience the plastic waste recycling process, from collection to cleaning and sorting, and gain insights into the specialised treatment process. In 2023, the Plastic Detox campaign reached over 35,000 people, recycling over 3,000 pieces of plastic waste.
• Gift of Happiness: In alignment with our CSR commitments, we have partnered with the Blue Dragon Children's Foundation to organise the Gift of Happiness campaign. Residents and tenants collectively donate practical gifts such as school supplies, books, and daily living items to support underprivileged children throughout Viet Nam.

Key Occasional Events

We organise events on major holidays throughout the year, including the Lunar New Year, International Children's Day, Mid-Autumn Festival, and Christmas. Decorations and activities are meticulously planned to provide residents and tenants with consistent holiday experiences.

Contact Savills Property Management for consultancy on operational solutions.

Read more:

• How Can Developers Ensure Fire Safety at Apartment Buildings?