While a series of construction companies suffered a sharp decline in revenue due to the fluctuations in the real estate market and the economy last year, Central Construction Joint Stock Company still steadily “reached the finish line” with a series of large-scale projects.
“Collection” of VND-trillion projects
In early December 2023, Central General Contractor in collaboration with Shimizu General Contractor (Japan) held the Groundbreaking Ceremony of Daikin Office Headquarters in the heart of District 3, Ho Chi Minh City.
A week later, the Astral City (Binh Duong) with a CFA of 536,000 m2 was restarted by Central General Contractor and Investor Danh Khoi, the project site with a scale of 3 basements and 8 40-storey towers including 5,000 apartments in Thuan An City, Binh Duong province, with Central as the General Contractor for Design & Build, has been bustling again.
Only 3 days later, Central General Contractor continued to start construction of The Estuary with a scale of 2 basements and 2 40-storey towers with an investment capital of up to VND 2,300 billion in Hai Chau District, Da Nang City.
Towards the end of the year, the list of VND-trillion projects “constructed” by the Central General Contractor will be extended with a series of new large-scale projects. Not only that, in the field of industrial real estate in mid-December 2023, Central General Contractor continues to announce the signing ceremony of the contract for infrastructure construction of Rang Dong Industrial Park, Nam Dinh (AURORA IP) with an area of 520 hectares and the development orientation to become a Smart – Ecological Textile Industrial Park, using machinery and equipment according to Japanese industrial standards that meet the criteria of energy saving and environmental friendliness.
In addition, there are a series of other high-class projects being implemented by Central General Contractor in 2023 such as: The first 6-star Fairmont Heritage Hotel in the central of Hanoi, which is one of the most prestigious hotel brands in the world with a history of more than 100 years under Accor S.A.; Lumera Beach Phu Quoc, the first luxury resort project from Vinh Phat Group, a global famous ST25 rice producer and exporter; Etown 6 Office Building with a basement depth equivalent to 7 basements from the investor REE Corp; Emasi Plus International School in Waterpoint Urban Area, Long An from Khai Sang Education Group, is the Investor of Renaissance and Emasi international schools; The Dewey Ocean Park International School of Toshin Development Corporation (Japan) in Hanoi, is known as the real estate developer who owns the famous Takashimaya department store chain.
Following the information on this company’s website up to now, Central has undertaken the role of construction contractor for more than 120 projects across the country, from the commercial civil sector, industrial factories to infrastructure and bridges. General contractor Central undertakes the entire construction work from structure, interior – exterior finishing to M&E. In particular, the strength in the application of technology throughout the construction process, through the application of equipment, machinery and high-tech construction methods. The projects always comply with international standards on quality, occupational safety and industrial hygiene.
Impressive “imprints”
Closing 2023 with the market economy situation is still difficult, but Central contractor has made outstanding efforts to achieve many results, especially Central has completed and handed over many key projects to meet the most stringent requirements such as: Sol Forest luxury apartment tower “House in the Garden, Garden in the Clouds”, scale of 2 basements, 2 towers of 41 floors of Hanoi Ecopark Group; The Metropole Thu Thiem complex with the scale of 3 basements, 2 Grade A office towers and 1 high-class apartment tower of Quoc Loc Phat Group, Son Kim Land; Masteri Centre Point luxury apartments, scale of 3 basements, 5 high-rise towers with nearly 2,700 apartments from Masterise Homes International Real Estate Developer; Thao Dien Green, District 2, Ho Chi Minh City with 2 basements and 204 super luxury apartments of SIC Group; In the field of industry, Central has handed over 3 factories in Phu My 2 Industrial Park Ba Ria – Vung Tau: Container Factory, Mechanical Factory, Freezer Factory of Hoa Phat Group, the largest iron and steel manufacturer in Vietnam; In Nhon Trach Industrial Park, Dong Nai: Central has handed over 6 factories to BW Kim Truc, known as BW Industrial is a joint venture industrial real estate developer between Warburg Pincus, USA and Becamex.
Accumulating internal resources to “overcome the wave”
According to industry experts, since the Covid pandemic, it has been a very difficult period for contractors: from fluctuations in the input price of materials to the influence of capital markets and corporate bonds,… Contractors like Central must have really strong internal strength and good governance practices to be able to “ride the wave”.
Utilizing technology in business operations, where Central has implemented BIM technology in construction and MEP fields, modeling before execution and providing optimal construction solutions. This helps accurately calculate the workload, synchronize the “Structure – Finishing – MEP” techniques, minimize errors and material waste, delivering maximum value to investors and partners.
Central’s Board of Directors shared: “With relentless, persistent efforts and being consistent with the set strategic goals; especially the trust with the Team, Central is proud to continue maintaining the brand and bringing outstanding breakthrough values in the industry. At Central, we always aim to develop our business in addition to creating value for Partners, Clients, and Society, and building a happy working environment for the Company.”
According to Central’s audited financial statements for 2022 that we obtained, in 2022 this business recorded a revenue increase of nearly 80%, reaching more than VND 9,000 billion and profit reaching VND 233 billion. In 2023, according to a representative of the Board of Directors of this business, with a series of projects that have been implemented, the contractor always ensures a stable source of work and fully meets the salary, bonus and welfare policies for more than 930 employees.
Central General Contractor has made strong changes, continuing to rank in the Top 100 companies with the best places to work in Vietnam according to the annual survey of the leading prestigious evaluation organization Anphabe, Top 500 most profitable enterprises in Vietnam 2023, Asia Pacific Enterprise Awards (APEA) and firmly in the Top Enterprises.
