According to the Cen Land leader, he concluded many years ago that the hardest link in the real estate value chain is sales, and that view has only become more evident today.
On May 22, Century Real Estate Joint Stock Company (Cen Land) held its 2026 Annual General Meeting of Shareholders. At the meeting, Mr. Nguyễn Trung Vu, Chairman of the Board of Directors of Cen Land, shared a number of new strategic directions for the company as the real estate market enters a phase of fiercer competition.
According to the Cen Land leader, he concluded many years ago that the hardest link in the real estate value chain is sales, and that view has only become more evident today.
“Legal issues are gradually being resolved, and financing is no longer a major obstacle. What remains is how hard it is to sell. As everyone can see, when market supply is as large as it is now, sellers will face even greater difficulties,” Mr. Vu said.
The Cen Land chairman noted: “The biggest concern in today’s real estate market is that many people hold a great deal of property. But let me be blunt: the more land someone holds, the more nervous they should be, because the risk of oversupply in the coming period is very high.”
However, he believes this will not apply to projects and land plots in prime locations. “For real estate to have value, it needs cash flow; for cash flow, it needs foot traffic; and for foot traffic, it needs infrastructure and connectivity,” Mr. Vu emphasized.
The Cen Land leader said the company has traditionally operated as a conventional real estate brokerage with a large sales force. However, the market today has changed significantly compared with the past.
According to Mr. Vu, in the past, market supply was scarce, and many people could sell their products without even needing to advertise.
Today, however, the market is entirely different. Supply keeps growing and buyers are tightening their spending, making sales harder. Meanwhile, developers launching new projects require distributors to place deposits in order to secure their unit allocations. This increases the pressure on capital, while profit margins in traditional brokerage continue to narrow.
Mr. Nguyen Trung Vu said the company has also invested substantial resources and allocated capital across many developers’ projects, accepting a higher level of risk than before. Given this reality, the company decided to change course and focus more on its core areas.
“After working with strategic investors, we realized we needed to focus on fewer pillars so that we could go deeper and operate more effectively,” the Cen Land Chairman shared.
Accordingly, the company will build its growth on three main pillars: real estate development, operation and management; real estate services and technology platforms; and, finally, workforce training and supply.
One notable highlight of this restructuring strategy is a change in the distribution model. Alongside its traditional brokerage team and advertising activities, Cen Land will gradually partner with banks, securities firms and insurance companies.
According to Mr. Nguyen Trung Vu, instead of “burning cash” on advertising, the company wants to leverage the data already held by financial institutions to reach customers based on their actual needs. This approach helps optimize profits, improve sales effectiveness and expand revenue-sharing partnerships.
Another new direction emphasized by Cen Land is the plan to establish a “Resettlement Support Center for Residents” in June 2026. According to the company’s leadership, Hanoi is carrying out many large-scale infrastructure projects, which is driving very high demand for resettlement.
Under this plan, Cen Land will help residents find temporary accommodation, rent housing or arrange available apartments to ease the pressure during the site clearance period. At several projects, such as Truong Xanh and Binh Minh Garden, the company still has vacant units that can be rented or used for temporary stays.
“When you have a close relationship with customers and they trust you, they value your company more. Only then do we sell homes, because most of these people have already received compensation. We don’t sell by project; we sell according to customers’ needs,” Mr. Vu said.
Beyond real estate, Cen Land is also expanding into workforce training and supply. According to the Cen Land Chairman, many large projects are currently being implemented at the same time, leading to a labor shortage that domestic supply cannot meet.
As a result, the company is working with Bangladesh and Myanmar, markets with abundant labor, fairly good English proficiency and lower income levels than Vietnam, to recruit and train technical workers and then supply them to the domestic market.
Mr. Vu said Cen Land already has an ecosystem that includes a college, experience in labor export and the relevant licenses to carry out this business. Although the company does not expect a major contribution this year, its leadership believes the workforce segment could bring in “thousands of billions of dong in revenue” in the future.
Cen Land Unveils a Series of Strategic Projects and Warns of Oversupply Risk in Real Estate
Sharing more about its investment strategy, the Cen Land Chairman said the company currently owns several projects in strategic locations. These include a project on Nguyen Van Huyen Street (Hanoi), next to a Metro Line 2 station, covering nearly 9,000 m² and comprising offices, a five-star hotel and a 36-story apartment tower.
Another project is located near Dai Lai Lake (Phu Tho), covering roughly 50 hectares including the lake surface, of which about 37 hectares of land were approved long ago and are expected to receive an investment license soon so that development can resume.
In addition, Mr. Vu revealed that Cen Land is preparing to recognize cash flow from a project on Nguyen Thai Hoc Street (Hanoi). The project is scheduled to open in July. Cen Land is a minority shareholder there and plans to divest after investing since 2017.
According to Cen Land’s leadership, the common thread among these projects is that all have prime locations with good infrastructure and connectivity, along with the potential to appreciate over time.