Phuc Hung Holdings: For new living values
Phuc Hung Holdings: For new living values
Cao Tung Lam, chairman of Phuc Hung Holdings Construction JSC, one of Vietnam’s top 10 building contractors, sheds light on the new living values gripping the real estate market and the company’s efforts in setting itself apart in the housing market.
Home buyers are paying growing heed to building contractors. What virtues must a contractor have from the part of real estate investors?
Choosing the right contractors is decisive to a projects’ success, as they are the ones who will make the developers’ ideas come true. Capable and renowned contractors are a guarantee for successful implementation, but more importantly, they must also be well-oriented, have a good reputation, and a sharing culture towards developers and the customers.
Usually, it takes about two years to complete a residential building project. Many unexpected problems may arise which are not foreseen in contracts. A sharing culture is important in such cases.
Reputed contractors, despite facing difficulties during the implementation process, try their best to meet the landmark targets at assured quality. They also communicate with the developers to ensure the best options are implemented for the project to reach completion based on their experience. That is also Phuc Hung’s business approach when handing our pipeline of projects in nationwide locations.
A string of Phuc Hung projects, such as Five Star Kim Giang, Legend Tower-109 Nguyen Tuan (Hanoi), Vung Tau Centre (Vung Tau city), and many others are vivid proof of the above.
Has Phuc Hung Holdings ever chosen developers in project deployment?
We often select suitable projects for implementation. Quality has been the lodestar in our branding strategy in the past 15 years, as we are making a constant effort to be named among the best-performing contractors in Vietnam.
We have, therefore, chosen projects based on our capacity, contract terms, and most importantly, a consensus with developers in bringing utmost satisfaction to homebuyers.
Phuc Hung’s revenues skyrocketed last year, surpassing VND1.2 trillion ($54.7 million) and fetching rosy profits. What were the factors behind such success?
We owe this success to our partners who have chosen Phuc Hung in the past. Aside conventional management factors, such as progress, material, safety, and financial settlement, waste management at the construction site has scored us a great deal of attention.
How did Phuc Hung’s business approach affect the quality of its projects so far? What developments do you see in the future?
Capitalising on our experience as a building contractor, Phuc Hung acquired many advantages by selecting suitable design and execution solutions, building management technology, striving to best utilise natural energy, and ensuring ample green spaces as well as modern amenities to bring the utmost comfort for residents.
Improving residents’ life is central to our investment and business strategy. The Light residential block Phuc Hung launched in 2013, which got a standing ovation from the resident community, is vivid proof in itself.
Our company has been and is working under the motto “For new living values,” doing all in our power to provide customers with beautiful housing enshrining sustainable values.
