Cen Land transforms into real estate developer with bold goals

Strategic shift in a changing market

Century Land has launched a bold strategic transformation following a challenging business year. In 2024, the company recorded VND1.538 trillion in net revenue and VND 57.2 billion in pre-tax profits - just 47.3% and 26% of its targets, respectively.

Yet at its 2025 annual general meeting, Chairman Nguyen Trung Vu struck a confident tone:"We used to be very cautious. Now, we are going all in."

According to Vu, Vietnam’s real estate environment has undergone major changes. The timing, he believes, is right - favorable market conditions, improved legal frameworks, and strong government support all point to a breakout moment for the firm.

“After three years of liquidity and legal bottlenecks in the real estate market, the time for acceleration has arrived,” he said.

Cen Land has set an ambitious 2025 goal: VND 4.150 trillion in revenue and VND 300 billion in pre-tax profit - representing growth of 170% and 424%, respectively.

The company plans to regain its market-leading brokerage position, ramp up secondary investment, and step into direct project development as key revenue drivers.

While previously hesitant to enter development due to high risks, Vu said the landscape has shifted. Many developers who once dominated the market have now disappeared. Some paid a heavy price for unsustainable growth, he added, but those who survived now have a rare opportunity to redefine the game.

“With a new real estate cycle underway, why cling to old thinking? We have the advantage - why not lead?” Vuemphasized.

Cen Land, which had previously invested as a minority partner in several projects, now plans to reclaim those stakes from distressed developers and take over the development itself. Secondary investments, he noted, proved just as risky - without the benefit of control.

"It’s not about arriving early or late - it’s about arriving at the right time," Vu remarked. “And now is exactly that moment.”

Four strategic pillars

Alongside its move into development, Cen Land is also overhauling its brokerage operations in 2025.

The market has become highly competitive, Vu noted, and exclusive distribution models are no longer viable - except in provincial markets. Thus, Cen Land will focus on lean, elite sales teams aligned with specific high-value projects, replacing its previous "mass recruitment" model.

Having weathered a quiet period, Cen Land is returning to brokerage with a mission to maintain its market leadership, especially in distributing projects from major developers such as Vinhomes, MIK Group and Sun Group.

Cen Land is also entering the affordable housing space. Projects are underway in provinces near Hanoi and Ho Chi Minh City, leveraging government incentives to address housing demand among the middle and lower-income segments.

The company aims to build a socially responsible brand associated with sustainable development and real solutions to Vietnam’s housing crisis.

A broader vision: Education and labor

Beyond property, Cen Land is expanding into vocational education - a move aligned with Vietnam’s national push for private-sector-led workforce development. The company will open a vocational college offering courses in real estate business, hotel management, nursing, and IT-focusing on programs with strong employment demand.

Its education arm aims to build practical, market-oriented curricula, in partnership with domestic and international businesses to ensure job placement upon graduation.

Internationally, Cen Land is doubling down on its skilled labor export programs. It will continue to train and place workers in Japan and Germany, tailoring programs to the rigorous standards of those markets. After two years in the space, the company aims to become one of Vietnam’s top 10 educational institutions within 3-5 years.

In 2025, revenue from brokerage and real estate transfers is projected at VND 2 trillion and VND 1.6 trillion, respectively - growing by 123% and 232% year-over-year. Its education segment is expected to reach VND 480 billion in revenue, a 338% increase from 2024.

Playing the long game

While development and social housing will not contribute revenue in 2025 due to longer timelines, Vu sees these as strategic bets for future profitability.

Long-term, the firm will also explore wellness real estate, starting with pilot projects in Ha Tinh and Vinh Phuc province - an effort to capitalize on Vietnam’s aging population and revitalize the country’s stagnant resort property sector.

Cen Land, Vu believes, avoided the “growth trap” that led other developers into bankruptcy during the 2018 - 2021 boom-bust cycle. “Now is the time to return, to scale faster than competitors in distribution - and then to monetize through development.”

The company will maintain strict investment discipline, only participating in projects with clear legal standing and high liquidity. In Vu’s words, “The era of inflated growth is over.”

With Vietnam’s economy growing at a double-digit pace, Cen Land has set a goal of 100% annual growth,” Vu said.

"Change the mindset, and you change the business outcome", he closed by reaffirming his commitment to lifting Cen Land’s stock (CRE) and elevating the firm into the ranks of Vietnam’s top-tier property developers.