Real Estate

An Cuong’s Inaugural Real Estate Project and Chairman Le Duc Nghia’s Commitment

"Driven by 'Heart – Vision – Intelligence,' An Cuong, Vietnam's leading industrial wood enterprise, has captured the market's attention with the unveiling of The Win City. This expansive urban development, strategically located in the vibrant western region of Ho Chi Minh City, is a collaborative venture between An Cuong, Central Company, and Thang Loi Homes (a subsidiary of Thang Loi Group). Together, they are shaping a transformative project that redefines modern living."

Administrator

11 December, 2025

Le Duc Nghia, Chairman of An Cuong Wood’s Board of Directors, shares insights at The Win City project kickoff event as the project’s lead investor. Image source: Thang Loi Group

Interviewer: Hello, Mr. Nghia. What motivated An Cuong Wood, a company renowned for its expertise in industrial wood, to venture into real estate investment?

Le Duc Nghia, Chairman of An Cuong Wood’s Board of Directors, Member of Thang Loi Group’s Board of Directors, and Member of Thang Loi Homes’ Board of Directors: Honestly, I never imagined entering the real estate sector. Wood is my profession, and I’ve dedicated over 30 years to establishing An Cuong as a leading enterprise in Vietnam and the region. After three decades of growth, our brand is valued at 1.5 trillion VND, with a market capitalization of approximately 6 trillion VND. We’re currently investing in two large factories in the North and Binh Phuoc, totaling 6 trillion VND. We’ve never compromised our hard-earned brand for unworthy endeavors. Thus, I’m cautious about associating the An Cuong Wood brand with any other industry.

The opportunity arose unexpectedly when I met like-minded partners—businesses sharing our philosophy of “Heart – Vision – Intelligence” in product development, sustainable planning, and community service. Together, we aim to create high-quality products for our customers. An Cuong Wood, Vietnam’s leading manufacturer of industrial wood materials and interiors; Central Construction, a top-3 construction contractor in Vietnam; and Thang Loi Group, a sustainable real estate developer committed to serving a million homes. Each company is a trusted, seasoned, and professional leader in its field. We decided to collaborate in real estate to deliver exceptional projects with optimized costs, leveraging our industry strengths.

Le Duc Nghia, Chairman of An Cuong Wood’s Board of Directors, speaks at The Win City project kickoff event as the lead investor.

Interviewer: How does this industry synergy manifest in your consortium’s debut project?

Le Duc Nghia: Calling us a trio is accurate, yet incomplete (laughs). Alongside An Cuong Wood, Central, and Thang Loi Homes, the project benefits from Hai Son Group as Thang Loi Group’s largest shareholder. Hai Son, a major corporation with substantial clean land reserves and financial strength, is pivotal in ensuring our partnership’s stability and the project’s sustainability.

During my studies in Germany, I often heard the saying, “Cheap is no good – Good is no cheap.” Both An Cuong and Central are Vietnam’s top-tier companies, and we won’t compromise our brands for insignificant projects.

The consortium behind The Win City project. From left: Tran Quang Tuan, Chairman of Central Construction and Member of Thang Loi Homes’ Board of Directors; Le Duc Nghia, Chairman of An Cuong Wood and Member of Thang Loi Group’s Board of Directors; Nguyen Thanh Quyen, Member of Thang Loi Group’s Board of Directors and CEO; Trinh The Son, Deputy CEO of Hai Son and Member of Thang Loi Group’s Board of Directors.

Our market-proven brands guarantee quality. While we don’t offer the lowest prices, our rates are reasonable, optimized by our execution, construction, and management capabilities. For instance, An Cuong executes 1.5–2 trillion VND annually in interior projects for major developers like Vin Group, Sun Group, and Capital. We’re integrating An Cuong’s interiors into The Win City. Similarly, Central constructs for developers selling units at 60–80 million VND/m², or at least 40 million VND/m². At The Win City, the 30 million VND/m² price reflects our commitment to quality and value, as we serve as both general contractor and interior supplier.

We secured the land early at a fair price. Located at the intersection of Ring Road 3 and the Ho Chi Minh City – Trung Luong Expressway, the area boasts significant near-term growth potential as part of Greater Ho Chi Minh City, close to industrial zones with high housing demand.

We’re not creating a project to showcase scale or chase market trends. We aim to build a livable, honest product for genuine buyers. When three major companies stake their reputation and expertise on a project, it’s a clear commitment to quality.