The Real Estate Giant Embraces a “Makeover”.

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With a gloomy market and a struggling economy, it’s no surprise that many businesses, including real estate companies, are shifting their focus, setting new goals, or even rebranding. This often involves a change in name and a fresh start.

After decades in the industry, TNG Holdings Vietnam, a diversified conglomerate with a 28-year history, announced its new name, CTCP Tap doan Rox (Rox Group), on January 27, 2024, along with a new brand identity.

The new logo features the brand name ROX and a flower-like design created from four orange-yellow V’s. The main reason for this rebranding was the inability to trademark the name TNG in the key domestic and international sectors in which the group invests.

TNG Holdings Vietnam, driven by the need for trademark protection and new business directions, repositioned its brand and committed to investing in multiple sectors through an ecosystem of urban and industrial park development, services, and financial investments.

Along with the introduction of Rox Group, the conglomerate also unveiled new brands for its subsidiaries. TNG Realty became Rox Living; TNCons Vietnam transformed into Rox Cons Vietnam; TNG Asset evolved into Rox Asset; and TNG Capital is now known as Rox Capital. The group’s sole member listed on the stock exchange, CTCP TNS Holdings (HOSE: TN1), also changed its name to CTCP Rox Key Holdings on March 12, 2024.

Another industry giant, Tong Cong ty IDICO – CTCP (HNX: IDC), a leading industrial real estate company, unveiled its new brand identity after more than 20 years on November 9, 2023.

IDC stated that the new logo reflects a harmonious balance of interests between the company, the community, society, and the nation in its strategic direction for Vietnam’s industrial sector. The new logo combines a deep green brand name with an eight-petaled red circle.

The new logo of IDICO (right)

IDC, established in 2000, primarily focuses on investing in and developing industrial parks. Today, it boasts 10 industrial parks, including three in the north and seven in the south, covering a total area of 3,267 hectares, with 2,341 hectares available for lease. Their industrial parks enjoy a 75% occupancy rate, and they have approximately 580 hectares of remaining industrial land for lease in Long An, Ba Ria-Vung Tau, Bac Ninh, and Thai Binh provinces.

In 2023, IDC recorded a total revenue of VND 7,474 billion, a 4% decrease from 2022, and a net profit of nearly VND 1,394 billion, a 21% drop. For 2024, the company has set a target of VND 8,466 billion in total revenue and VND 2,502 billion in pre-tax profit, representing increases of 13% and 22%, respectively, compared to the previous year.

At the beginning of 2023, CTCP Tap doan ASG (HOSE: ASG) officially adopted a new brand identity. The ASG logo is built on an isosceles triangle with three colors: sky blue, red, and yellow. It symbolizes the three pillars of the group’s business: logistics services, airport and aviation services, and infrastructure investment and industrial park development.

Tap doan ASG unveiled its new logo and brand identity on January 1, 2023.

In the industrial park segment, its subsidiary, Cong Ty TNHH Ha tang va Phat trien Khu cong nghiep ASG (ASGI), is exploring investment opportunities in several provinces, including Hanoi, Bac Giang, Hung Yen, Tay Ninh, and Ba Ria-Vung Tau.

ASG concluded 2023 with a revenue of VND 1,920 billion, a 3% decrease from the previous year, and a net profit of over VND 4 billion, a significant drop of 96%.

Marking its 16th anniversary, CTCP Eurowindow Holding (EWH) unveiled a new brand identity in March 2023.

The new Eurowindow Holding logo features a distinctive shade of blue and the new slogan, “Ben vung vuon xa” (“Sustainable Reach”), reflecting the company’s evolution over time.

The new logo of Eurowindow Holding (right)

Established in 2007, Eurowindow Holding operates in various sectors, including manufacturing and trading of building materials and furniture, real estate development, construction, real estate management, and finance and banking. The company has a charter capital of VND 3,000 billion, and Mr. Nguyen Canh Son, who also serves as Vice Chairman of Techcombank’s (TCB) Board of Directors, is its Chairman.

Several subsidiaries of the Dat Xanh Group have also undergone name changes.

After 12 years of developing numerous real estate projects in the central region, CTCP Dat Xanh Mien Trung rebranded itself as CTCP Regal Group in 2023. According to the company, this change in name and brand identity aligns with their strategic restructuring goals.

As part of its restructuring strategy, Regal Group focuses on two main areas: real estate investment with a real estate ecosystem and real estate brokerage services. In the investment segment, the company develops brands such as Regal Homes, Regal Food, Regal Mall, Regal Hotels & Resorts, Regal Office, and Castia Homes, along with franchised brands.

Regal Group’s brand for Real Estate Investment with a Real Estate Ecosystem

In the brokerage segment, Regal Group continues to offer a range of services, including consulting, appraisal, marketing, sales, and asset management, through its subsidiaries: CTCP Bat dong san Nam Mien Trung, CTCP Phat trien Bat dong san Emerald, and CTCP Do thi Thong minh Viet Nam.

Regal Group’s brand for the Real Estate Brokerage segment

Regal Group was established in 2011 in Da Nang, with Mr. Tran Ngoc Thanh as its legal representative. As of the end of 2023, CTCP Tap doan Dat Xanh (HOSE: DXG) held a 55% stake in the company.

Another DXG subsidiary, CTCP Dat Xanh Premium, in which DXG held a 59% stake at the end of 2023, changed its name to CTCP Bat dong san GPT on March 7, 2023.

Updated information of Bat dong san GPT

CTCP Dat Xanh E&C, formerly a subsidiary of DXG, also rebranded itself as CTCP DBFS in March 2023, just before DXG fully divested its capital.

DBFS assured that the name change would not impact its previous services, activities, or transactions.

DBFS’s new brand identity, effective from March 2023

On December 20, 2023, CTCP Kinh doanh Dia oc Him Lam (Him Lam Land) announced its transformation into CTCP Bat dong san Truong Son and unveiled a new logo after 15 years in the industry.

Him Lam Land stated that the name change is part of the company’s brand repositioning strategy and would not affect its relationships, transactions, civil obligations, or the execution of previously signed contracts and agreements. The company’s rights, responsibilities, and obligations remain unchanged and continue to be governed by applicable laws.

In addition to the name change, the company has expanded its business activities to include electricity production, transmission, and distribution, as well as the construction of residential and non-residential buildings and other civil engineering projects.

Meanwhile, the headquarter address and the legal representative, Mr. Nguyen Ngoc Thuy, who has served as the company’s General Director since its inception, remain unchanged.

Established in January 2008, Him Lam Land had a charter capital of VND 1,700 billion as of the end of 2017. The company has developed numerous Him Lam projects, including Him Lam Tan Hung, Him Lam Riverside, Him Lam Cho Lon, Him Lam Phu An in Ho Chi Minh City, Him Lam Van Phuc, and Him Lam Vinh Tuy in Hanoi, as well as projects in other provinces and cities.

The new logo of Bat dong san Truong Son (right)

Ultimately, rebranding is not an easy task for any business. It involves more than just changing a logo or color scheme; it requires rebuilding customer perceptions and associations with the new brand. This process aims to create a strong impression for the new brand while leaving the old one behind.

However, the payoff can be significant if the company’s new direction aligns with its goals, leading to a stronger brand and business.

Thanh Tú

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