The project comprises two basement levels and 20 above-ground floors and is planned as a modern, well-integrated urban development, contributing to a new and dynamic appearance for the surrounding area.

QP Holding’s decision to appoint Phuoc Thanh as the Main Contractor is a testament to Phuoc Thanh’s reputation and technical capabilities in the construction of high-rise buildings. It also marks an important milestone in establishing a long-term and strategic partnership between the two companies.

With extensive experience gained from more than 50 high-rise projects and over 20,000 apartments successfully completed and handed over, Phuoc Thanh is confident in its ability to leverage advanced construction technologies, implement systematic construction methods, and optimise project management.

At the Lot D17 project, Phuoc Thanh is committed to mobilising its resources to the fullest extent and maintaining stringent control over Quality – Safety – Schedule, while working closely with the Developer and consulting teams to ensure the successful delivery of the project.

Upholding our principle of “Commitment Backed by Action,” Phuoc Thanh is determined to deliver a high-quality project that contributes to enhancing the value and development of Binh Duong’s urban landscape.

We sincerely thank QP Holding and our valued partners for their trust and continued partnership. We wish the Lot D17 project a smooth, safe and highly successful construction journey!

The ceremony was attended by representatives of Van Xuan Group, Phuoc Thanh, consulting firms, partners, subcontractors, suppliers, as well as the project’s management team, engineers and workforce.

Previously, Phuoc Thanh had served as the main contractor for the substructure works of Happy One Mori. Being entrusted by Van Xuan Group once again to undertake the structural works represents recognition of Phuoc Thanh’s construction capabilities, sense of responsibility and efforts during the previous phase.

Speaking at the ceremony, Mr Le Khac Trong, Deputy General Director of Van Xuan Group, noted that the successful completion of the Phase 1 objectives, including the completion of the basement structure and fulfilment of the conditions for sales eligibility, demonstrated the contractor’s capabilities, professionalism and decisiveness. On this basis, the Developer has continued to appoint Phuoc Thanh to carry out the structural works and accompany the project through its next phase.

This is not merely a continuation of the scope of work, but also a continuation of the trust and strong cooperative relationship between Van Xuan Group and Phuoc Thanh.

At the ceremony, Mr Vu Tien Quoc Binh, General Director of ��ݮ��Ƶ Joint Stock Corporation, expressed Phuoc Thanh’s appreciation for the Developer’s continued trust and regarded it as a strong motivation to deliver the best value for the project.

Happy One Mori comprises two 33-storey towers and two basement levels, with a total gross floor area of more than 142,000 m² and more than 1,440 units. The project is designed around a Japanese-inspired green living concept, combining modern architecture, integrated amenities and a sustainable living environment.

As the project enters the structural construction phase, Phuoc Thanh is committed to mobilising its full resources, drawing on its experience in delivering the substructure works and focusing on three key priorities: Safety – Quality – Schedule. Through close coordination among the Developer, consultants, partners and the Phuoc Thanh team, the project will continue to be delivered safely, on schedule and to the required quality standards.

The groundbreaking ceremony for the structural works of Happy One Mori not only marks a new milestone in the project’s construction progress but also opens the next chapter of cooperation between Van Xuan Group and Phuoc Thanh, with a shared goal of delivering a high-quality, safe and sustainable development that will provide a modern and green living environment for the future community of residents.

Bringing together more than 80 students from the Faculty of Civil Engineering, the event provided a valuable platform for employers and aspiring engineers to connect and engage directly. More than 50 students submitted applications to Phuoc Thanh during the programme, reflecting the company’s strong employer brand, professional working environment, and long-term commitment to developing young talent.

Phuoc Thanh’s recruitment booth remained lively throughout the event, with representatives from the QA/QC, Shop Drawing, Construction Method Engineering, and Construction Engineering departments engaging directly with students. They provided career guidance, explained recruitment requirements and job expectations, and shared practical insights into the knowledge and skills required to thrive in the construction industry.

Inspired by these open and informative discussions, many students actively sought further information and registered for on-site interviews. Well-prepared and confident, they demonstrated their capabilities while expressing a strong interest in joining Phuoc Thanh upon graduation.

For Phuoc Thanh, every recruitment event is more than an opportunity to identify promising talent. It is also a meaningful occasion to connect with future engineers, share industry experience, and support the next generation of construction professionals as they embark on their careers.

Phuoc Thanh sincerely thanks the Leadership Board of Ho Chi Minh City University of Technology (HUTECH), the Centre for Enterprise Collaboration, and the Faculty of Civil Engineering for creating valuable opportunities for businesses to connect with high-quality young talent, helping to bridge the gap between academic education and industry practice.

With this second intake, the total number of UTH students participating in the programme at Phuoc Thanh has reached 65, marking another milestone in the strategic partnership between the Company and UTH. The programme reflects the shared commitment of both organisations to developing highly competent engineers equipped with practical skills and ready to meet the evolving demands of the construction industry.

Representing UTH, Assoc. Prof. Dr. Le Hoang An, Acting Vice Director of the Institute of Transport Economics and Development, expressed his sincere appreciation to Phuoc Thanh’s Board of Directors for providing students with valuable opportunities to learn and gain practical experience in a professional construction environment. He also encouraged the students to strictly comply with the Company’s regulations, proactively develop their professional competencies, and make the most of this opportunity to acquire practical knowledge and industry experience throughout the programme.

In response, Phuoc Thanh’s Board of Directors reaffirmed the Company’s commitment to nurturing future construction professionals. Students who successfully complete all programme requirements will be awarded a Corporate Semester Programme Certificate. More than a recognition of their learning achievements, the certificate serves as a valuable credential for those aspiring to build their careers at Phuoc Thanh. In accordance with the Company’s recruitment policy, programme graduates who satisfy the Company’s employment requirements may be offered full-time positions without undergoing the standard probationary period.

The Corporate Semester Programme consists of two integrated phases, combining structured professional training with practical project assignments. Phase 1 comprises 100 hours of professional training at Phuoc Thanh’s headquarters, covering key disciplines including Contract Management, Quantity Surveying (QS), Quantity Take-off, Cost Estimation and Cost Management, Building Information Modelling (BIM), Construction Methodology, Shop Drawings, HSSE (Health, Safety, Security and Environment), and Quality Assurance/Quality Control (QA/QC). This phase provides students with a solid technical foundation while familiarising them with project delivery processes, professional working practices, and the operational standards of a leading main contractor.

During Phase 2, students will be assigned to Phuoc Thanh’s construction projects based on project requirements. They will undertake real project responsibilities, participate directly in day-to-day site operations, and collaborate with project teams to deliver assigned tasks. This hands-on experience enables students to apply their academic knowledge in real-world project environments while strengthening their technical capabilities and developing the practical competencies expected of construction professionals.

At Phuoc Thanh, “Building Projects – Building People” is more than a slogan—it is a long-term commitment embedded in the Company’s development philosophy. Through the Corporate Semester Programme, Phuoc Thanh aims to support the next generation of engineers by providing meaningful opportunities to learn, work, and grow in a professional construction environment. Upon completing the programme, students will leave not only with valuable technical knowledge and practical experience, but also with a strong foundation to embark on their professional careers and contribute to the sustainable development of Vietnam’s construction industry.

During the ceremony, Mr. Tran Van Duong, Member of the Board of Directors and Deputy Chief Executive Officer of Khai Hoan Land Group, expressed his sincere appreciation to Phuoc Thanh, the Main Contractor, as well as the consultants, subcontractors, and suppliers for their dedication and close collaboration in keeping the project on schedule. He also expressed his confidence that all parties would continue working closely throughout the finishing phase, with the shared goal of achieving project handover in 2027.

Representing Phuoc Thanh, Mr. Vo Tien Dung, Director of the Construction Division, remarked that the topping-out milestone reflects the strong collaboration and collective commitment demonstrated by the Project Developer, the Main Contractor, and all project partners throughout the construction process. For Phuoc Thanh, every project milestone not only showcases its construction capability but also reinforces its unwavering commitment to quality, schedule, and safety.

The topping-out ceremony marks the beginning of the project’s finishing phase. Phuoc Thanh will continue to work closely with Khai Hoan Land and all project stakeholders to deliver Khai Hoan Prime in accordance with the approved schedule while ensuring the highest standards of quality and long-term sustainability.

Phuoc Thanh would like to express its sincere gratitude to Khai Hoan Land for placing its trust in us as the Main Contractor. We also extend our heartfelt appreciation to all consultants, subcontractors, suppliers, engineers, and site personnel whose dedication and professionalism have contributed to this significant project milestone.

Located on Tran Quang Dieu Street, Tan Dong Hiep Ward, Ho Chi Minh City, the FENICA Residential Development comprises two residential towers (Blocks A and B) with two basement levels and 22 above-ground storeys, offering a total gross floor area of over 50,000 m² and 579 modern apartments. The project is expected to contribute to the development of a high-quality, well-planned residential community that meets the growing housing demand in the area.

During the ceremony, the Project Owner expressed its appreciation and recognised the dedication and professionalism of Phuoc Thanh’s management team, engineers and workforce throughout the execution of the substructure works. Through strong commitment, effective construction management and a high sense of responsibility, Phuoc Thanh successfully completed the substructure phase in full compliance with the project’s requirements for quality, construction schedule and safety, establishing a solid foundation for the subsequent stages of the development.

Based on these achievements, the Project Owner has continued to place its trust in Phuoc Thanh by awarding the company the superstructure and finishing works package for the FENICA Residential Development. This appointment not only marks the continuation of the project’s construction programme but also reflects the Project Owner’s confidence in Phuoc Thanh’s technical capability, reputation and commitment throughout the project’s delivery.

Representing Phuoc Thanh, the company’s leadership expressed sincere appreciation for the continued trust and confidence of the Project Owner. The company also extended its gratitude to the Supervision Consultant, Design Consultant and project partners for their close coordination and timely support in overcoming challenges during the execution of the substructure works.

As the project enters the superstructure construction phase, Phuoc Thanh is committed to mobilising its best resources while leveraging more than 20 years of experience in the construction industry. The company will continue to implement systematic construction management, maintain strict control over quality, progress and occupational health and safety (OHS), and work closely with the Project Owner and all relevant stakeholders to ensure the project is delivered on schedule.

With the strong commitment and close collaboration of all parties involved, Phuoc Thanh is confident that the FENICA Residential Development will continue to progress safely, efficiently and to the highest quality standards, bringing to life a modern, sustainable living environment while creating lasting value for the community.

Recognising this, Phuoc Thanh has proactively partnered with universities to support the development of future talent, helping bridge the gap between academic learning and industry practice through its Corporate Semester Programme.

On 1 July 2026, at the Company’s Head Office, Phuoc Thanh welcomed 30 students majoring in Construction Economics, together with representatives from the leadership team of the University of Transport Ho Chi Minh City (UTH), to participate in the Corporate Semester Programme. Over the course of five months, the students will undertake practical training, gain hands-on experience, and participate in project activities across Phuoc Thanh’s construction sites and projects in Ho Chi Minh City and neighbouring areas.

This marks the first intake of the programme in 2026. According to the planned schedule, on 20 July 2026, Phuoc Thanh will welcome an additional 35 students majoring in Construction Engineering, bringing the total number of UTH students participating in the programme to 65. This further demonstrates the strong and effective partnership between academia and industry in developing high-quality human resources for the construction sector.

The welcoming ceremony was conducted in a professional and open atmosphere, with the participation of Phuoc Thanh’s Board of Management, as well as department managers and deputy managers. The presence and support of the Company’s leadership team reaffirm Phuoc Thanh’s commitment to nurturing young talent and providing future engineers with opportunities to learn, develop, and grow within a real-world working environment.

Representing UTH, Associate Professor Dr Pham Thi Anh, Director of the Institute of Research and Training, expressed her appreciation for Phuoc Thanh’s active contribution to educational collaboration. She also expressed her expectation that the Corporate Semester Programme would continue to serve as an effective bridge between academic education and professional practice, enabling students to strengthen their professional knowledge, develop practical competencies, and enhance their adaptability to the workplace after graduation.

Speaking at the event, a representative of Phuoc Thanh’s leadership shared: “After more than twenty years in the construction industry, we understand that no sustainable structure can be built without capable and responsible people behind it. The Corporate Semester Programme is not merely an educational collaboration initiative; it is also an integral part of Phuoc Thanh’s long-term development strategy, contributing to the preparation of high-quality human resources for the future of Vietnam’s construction industry. We hope that when students step onto Phuoc Thanh’s construction sites, they will not only learn technical knowledge and professional skills, but also develop a strong sense of responsibility, professionalism, and pride in the profession they have chosen to pursue.”

Immediately following the handover ceremony, the students participated in the “Introduction to HSSE Fundamentals” session, where they were equipped with essential knowledge related to health, safety, security, and environmental management. This serves as an important foundation, enabling them to adapt quickly and work effectively within actual construction site environments.

At Phuoc Thanh, we believe that the value of a construction main contractor should not be measured solely by the number of completed projects, but also by the number of people who have grown and developed through those projects. The journey of “Building Structures – Building People” at Phuoc Thanh will always remain open to young engineers who are ready to step beyond the classroom and begin their journey towards becoming true construction professionals.

Limitations of Conventional Timber Formwork Methods

In building construction, timber formwork remains a widely adopted solution due to its flexibility and relatively low initial investment cost. However, under conventional practices, formwork installation typically requires extensive on-site welding, cutting, and assembly to accommodate the geometry of individual structural elements.

This approach results in construction quality being highly dependent on the skill levels and workmanship of site operatives and subcontracted crews. Amid the increasing shortage of skilled construction labor, maintaining consistent quality standards across multiple work teams has become a significant challenge for many projects.

In addition, traditional formwork methods incur substantial indirect costs associated with welding equipment, temporary power supply, ancillary materials, and specialized labor. On-site welding and cutting operations also prolong installation time and introduce additional occupational health and safety risks.

Amid increasing pressure to deliver projects faster, at higher quality standards, and at lower costs, construction contractors are compelled to seek more efficient construction solutions that are easier to implement and offer greater reusability in practice.

Phuoc Thanh Develops a Modular Approach to Timber Formwork

While challenges relating to the cost and supply of aluminium formwork systems remain, ��ݮ��Ƶ Corporation has proactively researched and developed a timber formwork system based on modularization and standardized assembly principles. The objective is to minimize on-site welding and cutting operations while maintaining the flexibility required for various structural elements.

Instead of fabricating formwork directly on site, the system utilizes standardized formwork panels connected through mechanical joints, allowing for easy assembly, dismantling, and adjustment to meet project-specific requirements.

The development process encompasses concept generation, shop drawing design, workshop fabrication, and field testing. Following each stage of implementation, the engineering team evaluates the system’s advantages and limitations and continuously refines the design to better address practical construction requirements.

A key feature of the solution lies in its modular construction philosophy. The panels can be flexibly configured into various dimensions, making them adaptable to a wide range of structural components and client requirements.

Optimizing Construction Efficiency and Enhancing Material Reusability

Compared with conventional timber formwork methods, the improved system significantly reduces on-site welding and cutting activities, shortens installation time, and decreases dependence on highly skilled labour.

One of the system’s most significant advantages is its high level of reusability across multiple projects. Upon completion of one project, the panels can be dismantled, transported, and reused on subsequent projects without requiring extensive re-fabrication. This approach extends the service life of formwork materials and contributes to optimizing overall investment costs.

According to practical implementation results, the solution has delivered approximately 10–20% savings in formwork-related costs while reducing formwork installation time by 20–30%. The system was first introduced into practical application in the fourth quarter of 2025 and has been deployed across Phuoc Thanh’s projects since the second quarter of 2026.

Demonstrating the Main Contractor’s Capability for Construction Method Innovation

More than merely a technical improvement, the modular timber formwork system reflects ��ݮ��Ƶ Corporation’s strategic commitment to proactively researching, developing, and optimizing construction methodologies.

During the ceremony, the Executive Board announced appointment decisions and formally delegated authority to Deputy General Directors responsible for project management, as well as to the Site Management Teams. The clear assignment of responsibilities and authority from the outset reflects Phuoc Thanh’s consistent governance approach, laying a solid foundation for effective project execution while ensuring safety, quality, and schedule compliance.

The seven projects launched during this mobilization campaign include:

• Long Truong Social Housing Project (Blocks XH1, XH2, XH3)
• Happy One Mori Project (Superstructure Works)
• Destino Centro Project (Tower 3)
• Fenica Di An Project (Superstructure Works)
• Fiato Airport City Project (Lot F)
• K-Home Cityview Project
• Nam Mekong Grand Plaza Project

What makes this mobilization campaign particularly noteworthy is not merely the number of projects being launched, but the composition of the project portfolio itself. Of the seven projects, six are commissioned by developers that have previously partnered with Phuoc Thanh. Some represent subsequent phases awarded following the successful completion of earlier packages, while others are entirely new developments entrusted to Phuoc Thanh despite strong competition from other contractors in the market.

From a market perspective, this is a significant indicator. Such repeated collaboration reflects not only the developers’ satisfaction with ongoing and completed projects but also their continued confidence in selecting Phuoc Thanh for new investments. It serves as clear evidence of the Company’s construction capability, its ability to meet demanding requirements for quality and schedule, and the collaborative spirit it has consistently demonstrated throughout every project.

The Mobilization Ceremony on 13 June 2026 was more than a symbolic project kick-off. It also marked an important milestone in Phuoc Thanh’s strategic positioning—from a construction contractor to a trusted strategic construction partner. It reflects the Company’s capacity to manage complex project portfolios, its experience in proactively identifying and mitigating risks, and its execution capability to deliver results backed by a proven track record and organizational credibility.

In today’s increasingly competitive market, where schedule performance, construction quality, and investment efficiency have become decisive factors, developers are no longer asking, “Which contractor offers the lowest cost?” Instead, the more critical question is: “Which partner possesses the capability to safeguard the value of our investment throughout the entire project lifecycle?”

With seven new projects commencing simultaneously, Phuoc Thanh chooses to answer that question through tangible results, through the quality of every project delivered, and through commitments translated into action each and every day.