17:38 (GMT +7) - Monday 20/05/2019

Property

Construction contractor for Landmark 81 changes name

Released at: 08:15, 20/03/2019 BUSINESS SPOTLIGHT

Construction contractor for Landmark 81 changes name

Photo: Newtecons

Construction contractor for Hoiana Casino and Landmark 81 projects renamed Newtecons.

by Khanh Chi

Construction contractor the FDC Construction Investment JSC, a subsidiary of the Coteccons Group, has changed its name to Newtecons and adopted a redesigned logo.

15 years of innovation

Newtecons was established in 2004, specializing in construction, and started with small and medium-sized projects. 2009 was an important milestone in its development, when it built the high-end residential and shopping center complex Indochina Plaza in Hanoi. The successful completion of this first major project led to five prestigious regional awards for furnishings and architecture.

Within three years, Newtecons had made a strong transition in executing a series of key projects around the country, such as Noi Bai International Airport’s T2 Station, the Texhong Ngan Long factory, and the Jotun factory, among others. In 2015, it made a mark on the real estate market for the first time, with Masteri Thao Dien’s CT5 tower, where project revenue was around $44 million.

To be the leading general contractor

Newtecons was officially recognized in 2017 as being among the top 10 prestigious construction contractors in Vietnam, according to Vietnam Report (VNR).

It is also among the top 500 largest enterprises and the top 500 largest private enterprises in Vietnam. The company is now ranked eleventh among the 500 largest private construction enterprises in the country; a remarkable achievement for a relatively new concern.

In establishing its brand image, Newtecons worked with other prestigious contractors on projects that have become icons, such as Landmark 81 - the tallest building in Vietnam and eighth-tallest in the world, and Hoiana Casino - the largest project ever in central Quang Nam province, as well as other well-known projects such as Vinhomes Times City - Park Hill 5, Vinhomes Golden River - Aqua Tower 2, and Flamingo Dai Lai Resort.

Newtecons was again the successful bidder in a number of major projects this year. It is expected that the company will meet revenue and after-tax profit targets of 55 per cent and 67 per cent year-on-year, respectively, in 2019. In the future, leaders at Newtecons said it would continue to affirm its position and prestige as a leading general contractor in addition to other business sectors bringing high levels of efficiency.

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