Coteccons, Hoa Binh, Central… won bids for many construction projects with total investment of up to thousands of billions of VND, showing signs of warming up in the market. At the end of November, Coteccons (CTD), through its member unit Unicons, won the package to be the supervisor and contractor for the CaraWorld Cam Ranh project (Khanh Hoa). The contract amount and project implementation time have not been disclosed, but this is a resort real estate project with a total investment of 2 billion USD (more than 50,000 billion VND). In the third quarter, Coteccons and Unicons also won bids for many large-scale projects in the fields of civil, industrial and infrastructure with a total value of 10,300 billion VND. Similarly, Hoa Binh Construction Group (HBC) has recently won two consecutive bids. The package for the construction of the body, finishing and electromechanical works of two towers of Eaton Park (HCMC) is worth nearly 1,900 billion VND. At the Newtown Diamond project (Da Nang), HBC started construction at the end of November as the main contractor for the construction of the body structure for three 38-storey towers, with a total value of nearly VND1,000 billion, expected to be completed in 11 months. When leading construction enterprises implement projects, there is a need for accompanying construction services, such as labor supply, crane rental services, office container rental, dry container rental for warehouses, and toilet containers in large quantities at construction sites. Central also said that in the recent period, it has won contracts for many projects in the form of general contractors such as the University of Technology – Vietnam National University (Hanoi), two major projects of Masterise in Vinhomes Ocean Park (Hanoi) with a scale of about 3.3 hectares for each project, Thuan An 1 complex (Binh Duong), Essensia Sky apartment building (HCMC), Nam Thai urban area (Thai Nguyen) and Van Giang urban area (Hung Yen). The contract value has not been announced but the scale of the projects are all over a thousand billion VND. Central’s representative said that the company has a workforce of 900 engineers and about 10,000 workers mobilized from different regions, so the rotation of personnel is always guaranteed without being passive in each locality where new projects are deployed. This enterprise also said that its financial capacity is stable, not involved in projects that were stalled during the recent bond fluctuations, and proactively controls finances at each project implemented, so it always has proactive cash flow. “The source of new work at the end of the year further affirms our steadfast goal of pursuing the profession, no matter how difficult it is, it is an opportunity to improve,” said a representative of Central. Vietnam will continue to prove its attractiveness to major international investors and the tourism industry is also expected to have a strong recovery. Thanks to that, the construction sector is forecast to have significant growth next year. The growth rate is expected to reach about 15%, double the 7.5% rate in 2024, showing a positive outlook for the industry. Central also has an optimistic view on the market outlook. This contractor predicts that when the macroeconomic situation stabilizes, the real estate market passes the most difficult period, and legal bottlenecks are gradually being removed, it will create conditions for the recovery of construction enterprises. In addition, the public investment situation continues to be a pillar and strong driving force for economic development in the current period and in the medium and long term.
“We expect 2025 to be the peak year of disbursement and is identified as the year of accelerating the implementation of key transport infrastructure projects and is also the basis for the development of civil and industrial real estate projects when industrial FDI projects are continuously announced and granted investment licenses in the last months of the year,” added a representative of Central.

A recent report by SSI Research said that civil construction is expected to recover more strongly, thanks to the early recovery of civil real estate in major markets such as Hanoi and Ho Chi Minh City. In Hanoi, the market saw a boom in new apartment launches and sales in the second and third quarters, reaching around 10,000 units per quarter, double the three-year average. The Ho Chi Minh City market is showing the first signs of recovery, with a surge in primary market absorption in the last quarter. In fact, efforts to promote public investment disbursement have begun to create positive colors in the business results of construction enterprises. Statistics from Mirae Asset Securities Vietnam (MASVN) show that after the first 9 months of the year, construction enterprises on HoSE and HNX recorded a growth of more than 18% in revenue and nearly 85% in after-tax profit. The growth in after-tax profit mainly came from core business activities when the gross profit of these enterprises recorded a growth of 37.3% in 9 months. However, the MASVN analysis team also pointed out some risks to the construction industry. The first is the delay in progress, especially public investment projects when there may be cases of cost overruns, slow allocation of capital or handover of site… In addition, contractors in the coming time will also have to face fluctuations in raw material prices. VnExpress’s survey shows that since mid-September, the price of construction steel has increased continuously to around VND14 million per ton and there are many signs that it will increase even higher next year. This is also a big difficulty and challenge for Asia Container, a business that manages office containers, warehouse containers, and toilet containers for rent to serve construction contractors. Asia Container must come up with an approach strategy, in the context of input materials for manufacturing office containers, warehouse containers, and toilet containers all increasing in price at the end of the year. In 2025, Asia Container will expand the container rental market to FDI manufacturing enterprises in industrial parks in the provinces, with the right strategy and approach.