To be honored, Central Construction Corporation attained and surpassed the assessment criteria set by the international judging panel based on the total construction cost of the projects executed over the two years between 01/01/2022 and 31/12/2023 along with the adjusted factor for projects with registered “Green” certificates such as: LEED, Lotus, Green Mark, Green Star, EDGE, etc. and projects categorized as office buildings, resort – hotels and industrial factories.
Central General Construction Company affirmed its position with many large-scale, high-quality construction projects such as: construction of 17 Vinhomes high-rise buildings, Masteri Center Point in Vinhomes Grand Park urban area; being the general contractor of The Metropole Thu Thiem project with a total area of 7.6 hectares; Empire City by Keppel Land; 6-star Fairmont Hanoi Hotel; The Global City with a land area of 117 hectares; being the general design and construction contractor for the Sol Forest project in Ecopark urban area, Hung Yen; The Estuary Da Nang; Astral City Binh Duong; the Hoa Phat factory complex in Phu My 2 Industrial Park (Ba Ria – Vung Tau) and the Steel Rolling Mill, Hoa Phat Steel Phase 2, Dung Quat Industrial Park (Quang Ngai); construction of Aurora IP Nam Dinh Industrial Park infrastructure.
According to Central, during the construction of the project, besides affirming its brand, its breakthrough growth in financial indicators played an important role in its advancement on the charts. Over the past 5 years, Central has continuously ranked among the leading construction contractors with an impressive compound annual growth rate of 64%.
In 2022, the company’s revenue reached over VND 9,000 billion, an 80% increase compared to 2021. In 2023, despite the construction market facing many difficulties due to the general market impact, Central still recorded revenue of over VND 8,100 billion, ranking in the top 3 in revenue among similar enterprises in the industry. Net profit after tax in 2022 and 2023 reached VND 230 billion and VND 200 billion, respectively, with profit margin on revenue leading the industry.
According to the 2023 audit report, total equity reached nearly VND 900 billion, with cash and cash equivalents amounting to more than VND 900 billion. Central managed its finances effectively, showed better financial indicators in 2023 compared to previous years. The debt-to-equity ratio decreased from 1.64 times in 2022 to 0.53 times in 2023. At the same time, the quick ratio increased from 0.94 to 1.04, demonstrating increasingly better solvency.
Central’s representatives explained that developing a diverse portfolio of project types and maintaining a commitment to quality while working in tandem with investors were the two main reasons why Central continuously won new projects and gained the trust of its traditional customers, guaranteeing the growth of the “top” market enterprise.
Currently, Central is the general contractor for the construction of civil, industrial, commercial, and tourism projects, as well as key national infrastructure projects. Many of these projects have obtained “Green Building” certificates from domestic and international certification organizations. Central has always been the preferred choice of major investors in Vietnam such as Vingroup, Masterise Homes, Hoa Phat Group, REE Corp., etc.
For example, the UOA (Malaysia) Tower office building, The Metropole Thu Thiem luxury apartment complex (Ho Chi Minh City), and Chadwick International School (Hanoi) were built according to the Green Mark – Singapore standard, Emasi Plus International School in Water Point Urban Area (Long An) was built according to the LEED Gold standard, and the C.P. Group Head Office (Thailand) in Bien Hoa II Industrial Park (Dong Nai) was granted the LEED Platinum Ver.04 green building certificate – the highest green building standard from the US Green Building Council.
In particular, the Daikin office building project (in Ho Chi Minh City) was designed, constructed, and operated according to the green building standard with a scale of 3 basement floors and 13 upper floors. Upon completion, it will be one of the first buildings in Vietnam, as well as in Southeast Asia, to meet international green building standards such as Lotus Platinum, LEED ver.04, and the WELL Health and Wellness Building Standard (USA).
Daikin Office Building is located at Cong Truong Quoc Te roundabout, District 3, Ho Chi Minh City. Photo: CENTRAL
Central’s position at the top as a general contractor has been elevated through iconic projects. The Sol Forest Ecopark (Hung Yen) apartment tower, the greenest in Southeast Asia, designed and built by Central features a “vertical garden” nearly 200 meters high, creating an iconic symbol of a green high-rise resort among Vietnam’s largest green cities.
This project also won Central – the design and construction general contractor – “Better World Builder of the Year” Award at the Autodesk ASEAN Innovation Awards 2023 in Singapore.
The two Sol Forest Ecopark towers – the “green icon” built by Central. Photo: CENTRAL
In the office building segment, Central General Construction contributed to the iconic value of the Etown 6 building – an office project of class A+, achieving the pioneering international “LEED Platinum” standard in Ho Chi Minh City.
This is a civil project with a basement depth of up to 27.1 meters – one of the projects with the deepest basements in Vietnam today. In addition, the capping beam is up to 3.5 meters high, acting as a load-bearing beam for the entire diagonal column system above; or the complex prestressed floor with a cable length of up to 90 meters is a construction record that affirms the capacity of Central as a general contractor.
Perspective of Etown 6 – a Class A+ office building with LEED Platinum certificate built by Central. Photo: REE Corp.
It is expected that Central, along with the enterprises in the “Top 10 Leading Construction Contractors of Vietnam” in 2024, will be honored at the BCI Asia Awards ceremony on the evening of May 31, 2024, in Ho Chi Minh City.
The BCI Asia Awards are considered one of the most prestigious awards in the construction industry in the region. 2024 marks the 19th year that this award has been organized in seven countries and territories in Asia, including Hong Kong (China), Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
