Enterprise

The Property Developers’ New Guise

In preparation for a new market cycle, many real estate businesses are undergoing a rebranding strategy to attract partners and showcase their future direction. This includes a fresh new look and a renewed approach to their business model, as they gear up for the changing landscape of the industry.

Administrator

23 August, 2025

Renaming to Attract Partners?

Some businesses feel that their current name is quite ‘Vietnamese’ and a bit lengthy, making it hard for partners, especially foreign ones, to remember and pronounce. As a result, they believe that a change is necessary to attract partners. This was the sentiment shared by Mr. Nguyen Quoc Cuong, CEO of Joint Stock Company Quoc Cuong Gia Lai (HOSE: QCG), during the 2025 Annual General Meeting of Shareholders regarding their plan to rename the company this year. He stated that the name “Quoc Cuong Gia Lai” has been in use for 30 years and is not easy to remember or pronounce, especially for foreigners, hence the need for a change in the context of new integration.

On the other hand, QCG’s move to rename comes after a tumultuous 2024. The most notable event was the prosecution of former CEO Nguyen Thi Nhu Loan for her involvement in the case of “Violation of regulations on the management and use of state assets, causing waste and loss; Bribery; Abuse of position and power while performing official duties,” which occurred at the Vietnam Rubber Industry Group, Dong Nai Rubber Company, Ba Ria Rubber Company, Ministry of Natural Resources and Environment, and related units. From November 11, 2024, to the present, Ms. Loan has been released on bail.

Additionally, QCG owes Sunny Island nearly VND 2,800 billion related to the Phuoc Kien project. To repay this debt, Mr. Cuong shared that in 2024 and early 2025, the company focused on clearing inventory from all projects, including the sale of hydropower plants, to bring in more than VND 1,000 billion. As of the end of June 2025, QCG had reduced its debt to Sunny Island by VND 100 billion to VND 2,783 billion.

Similarly, the management board of CKG, HOSE: CKG, also considered renaming the company after a turbulent 2024.

The most significant change was the election of four new members to the Board of Directors at the 2024 Annual General Meeting of Shareholders. Additionally, CKG amended some business lines to increase the foreign ownership limit from 0% to 49% to attract foreign investors, especially funds from Japan and Korea.

The CKG board of directors believes that the name change will facilitate connections with partners and customers and make the “CIC Group” brand more popular in the market, opening up collaboration and investment opportunities. CKG officially changed its name to “Joint Stock Company CIC Group” in June 2025, marking the second time the company has renamed itself since its establishment and the first time since its listing.

CKG’s new seal design after the name change

Source: CKG

In the first quarter, FIR, HOSE: FIR, approved a plan to change its name to Joint Stock Company Firstreal A at the 2025 Annual General Meeting of Shareholders.

FIR’s management stated that this decision aimed to facilitate connections with partners and customers, support long-term development strategies, and expand the market in the new phase. However, as of now, the company has not officially transitioned to the new name.

A New Name for a New Direction

In addition to making it easier for partners to remember, many businesses also want their new name to reflect the orientation and goals that the management sets for the future. Some companies want to focus on specific industries, while others aim for diversification.

A typical example is VPI, HOSE: VPI, which has changed its name to Joint Stock Company for Real Estate Development of Van Phu after receiving approval from the Annual General Meeting of Shareholders in April. This is the first time the company has renamed itself since its equitization in 2008.

Chairman To Nhu Toan stated that Van Phu’s strategy for the next ten years focuses on real estate, especially residential and urban real estate. Therefore, the company’s name change emphasizes its investment field. The previous name could cause confusion, suggesting that the company invests in multiple industries.

Similarly, the Annual General Meeting of Shareholders of DRH Holdings, HOSE: DRH, approved a name change to shorten it to “Joint Stock Company DRH.” The last time the company changed its name was in 2018, from “Joint Stock Company for Investment in Dream House” to “Joint Stock Company DRH Holdings.”

Chairman Phan Tan Dat stated that the name change aligns with the company’s new business orientation. Up to now, DRH has invested in projects through its subsidiaries, mainly financial investments. However, the Board of Directors now aims to focus on specialized areas that match the company’s development, so they opted for a shorter name.

Another company that shortened its name is NRC, HNX: NRC. In June, the Annual General Meeting of Shareholders approved changing the company’s name to “Joint Stock Company NRC Group,” with the acronym NRC Corp.

NRC’s management believes that “Danh Khoi” is a brand associated with a real estate business. Meanwhile, the company is diversifying into new sectors, including high-tech agriculture and healthcare and pharmaceuticals.

At the meeting, NRC introduced its new logo, but as of now, the company has not officially announced plans to change its logo.

Previously, NRC changed its logo simultaneously with its name change from “Netland Real Estate Joint Stock Company” to “Danh Khoi Joint Stock Company” in 2020.

NRC’s new logo at the 2025 Annual General Meeting of Shareholders. Photo: Thuong Ngoc

To reflect its strategy of becoming a multi-industry investment holding company, BIG, UPCoM: BIG, changed its name to Joint Stock Company Big Group Holdings.

The management stated that the company would concentrate its resources on four main sectors: real estate, commerce, finance, and soon, technology. They expect this change to increase flexibility and seize investment opportunities in a volatile economic context.

Another holding company, DC4, HOSE: DC4, changed its name to Joint Stock Company DICERA Holdings (abbreviated as DICERA Holdings) to align with its brand development, scale, and strategic orientation for the next phase.

New Management and Logo

At the Extraordinary General Meeting of Shareholders in February 2025, TDH, HOSE: TDH, introduced a new logo along with a new management team. Representing the new Board of Directors, Mr. Tran Thanh Vinh shared that the logo change demonstrates the determination of the new management to renew and transform the company this year.

Although TDH has never changed its name, this is the second time it has modified its logo in the last three years (2023-2025).

TDH logo from 2023 to the present

Another company that recently introduced a new logo is LDG Investment Joint Stock Company, HOSE: LDG, although the management did not mention this during the 2025 Annual General Meeting of Shareholders in June.

LDG’s new brand identity

Source: LDG

This is the second time in four years that LDG has changed its brand identity. In July 2021, LDG updated its logo to a red and orange color scheme and added the word “investment” to refresh its image and communicate its new direction and strategy.

LDG’s previous brand identity change in 2021

Source: LDG

LDG’s unexpected logo and seal change comes not long after the company welcomed new major shareholders, sisters Ms. La My Hoang and La My Phuong. As of July 24, their combined ownership in LDG exceeded 7.4%.

Ha Le

– 07:53 22/08/2025