Duc Manh 579: Reliable Partner

After nearly 20 years of construction and development from a small business, Duc Manh 579 has become a leading real estate partnership and one of the most prestigious and trusted partners in Da Nang City in particular and in Vietnam in general.

Duc Manh Corporation and Investment and Construction Joint Stock Company 579 (CECICO 579) were respectively established in 2000 and 2001, engaged in real estate business; construction; hotels, apartments and offices for rent; retail trade centres, industrial parks, import distribution, travel and transportation services. Real estate investment is the core business.

Despite its starting point as small business, with a keen sense and dynamism, Duc Manh 579 invested a number of pioneering projects and created a turning point for Da Nang City’s development. Its typical projects included Vinh Trung Plaza, Phu My An Urban Area and many other important social housing projects.
Vinh Trung Plaza was invested in 2004 at a cost of US$50 million and inaugurated and put into operation in 2007. US$50 million was a very big value in 2004. With this investment capital, Vinh Trung Plaza was the largest commercial complex in Da Nang at that time. This estate enabled Da Nang City to plan and upgrade its downtown, turning a dirty three-wheeled passenger vehicle station into the most bustling shopping mall in Da Nang City.

Vinh Trung Plaza marked the success of Duc Manh Corporation, making it one of most typical businesses of Da Nang City, while Phu My An New Urban Area invested by CECICO 579 was of great significance. This project helped Cecico 579 affirm its position and prestige in the business community.

Phu My An Urban Area was one of pioneering urban infrastructure projects in southern Da Nang City. Invested in 2004 at a cost of VND360 billion, this modern habitat helped change the face of a poor area.

To play a part in the sustainability and prosperity of Da Nang City, in 2009, Duc Manh Corporation and CECICO 579 formed a joint venture to create a financially strong and profoundly experienced group. Soon after that, this brand has been entrusted by Da Nang People’s Committee to invest many important projects, including the first phase of DMC Blue House - a social housing project and DMC 579 dormitory for students. In 2013, the second phase of DMC Blue House was kicked off with thousands of billions of Vietnamese dong of investment capital.

Assigned to carry out government-backed social houses in Da Nang City, Duc Manh 579 has proved its reputation to the local government.

With such development momentum, it is no surprise that Duc Manh 579 was ranked among Top 500 largest private enterprises in Vietnam in 2010. Duc Manh 579 and Mr Dam Quang Tuan, the President, were named the business and the entrepreneur of Da Nang City in many years in addition to many other honours and certificates of merit.

Mr Dam Quang Tuan, President of the Board of Directors of Duc Manh 579, said that the company aims to build a joint venture into a powerful economic group engaged in a wide range of business fields and soon become a Top 10 private enterprises by assets and revenue in Da Nang City by 2020 and in the Central Region by 2025. It will be capable of cooperating with world-leading corporations to jointly create values for the community, the society and reap successes.
“To do so, we will continue to enhance our competitiveness and improve our management system, professional human resources to bring best products and services to the market,” he said.

Quoc Hung