(The Leader) – With signs of recovery in the construction industry and Searefico having accumulated sufficient resources, the company is poised to seize the moment for a breakthrough.
Mr. Nguyễn Khoa Đăng, CEO of Searefico JSC. Photo: Searefico
Mr. Nguyễn Khoa Đăng, CEO of Searefico JSC, stated that 2025 marks a recovery year for the real estate market as macroeconomic policies are gradually stabilizing, especially interest rate stabilization and momentum from public investment. These are key factors in reviving the construction sector after its most difficult period and present a breakthrough opportunity for companies that can seize it.
“Driving Forces” for Searefico’s Breakthrough
You mentioned the construction sector has passed its most difficult phase. Is this the time for companies with accumulated resources to break through? Will Searefico aim to do so in 2025?
Nguyễn Khoa Đăng: Entering 2025, Searefico is embracing a major opportunity. As of March 31, our signed but unrecognized revenue backlog exceeded VND 3,000 billion, not including another expected VND 2,000 billion worth of contracts we anticipate securing in the remaining nine months of the year.
At the same time, Searefico is also facing multiple investment opportunities, especially in the industrial real estate sector. Notably, the SIB complex building project in Da Nang was granted a construction permit on April 18.
This project will serve as a symbolic milestone for Searefico’s next growth phase. Therefore, we expect not only a breakthrough in revenue and profit in 2025 but also continued growth in the years ahead.
Among the sectors where Searefico is investing, which is considered the core focus why?
Nguyễn Khoa Đăng: All sectors where Searefico is active through its subsidiaries are currently showing growth potential.
For example, Searefico E&C (Searefico Engineering & Construction JSC) currently holds the largest project backlog in its history—more than VND 3,000 billion.
Greenpan JSC, our subsidiary specializing in non-fired construction materials, received FM Approval certification in late 2024. With this certification, Greenpan’s order volume has continued to grow, especially export orders. Remarkably, April 2025 marked the company’s first exports to the U.S. market.
Meanwhile, Arico (Asia Cold Engineering JSC), with strategic partner Hoshizaki (Asia’s largest refrigeration equipment manufacturer with over $2 billion in revenue in 2024), is installing its production line to prepare for its first product launch in 2026.
In addition, our industrial refrigeration segment is also growing, with new orders including an export deal worth nearly $5 million signed at the end of 2024.
Searee JSC, the subsidiary in charge of industrial real estate and logistics, is accelerating construction of the SIB industrial building. Upon completion at the end of this year, Searee’s total leasable space will exceed 20,000 sqm, reaching 40% of our five-year strategic goal of 50,000 sqm.
Hoshizaki Group partners strategically with Arico (a Searefico member). Photo: Searefico
On April 9, U.S. President Donald Trump announced a 90-day suspension of retaliatory tariffs for trade partners that do not retaliate, including Vietnam, but excluding China. Searefico operates across M&E, construction, automation, industrial refrigeration, warehouse investment, solar power, and panel manufacturing. How do you assess the potential benefits of this policy for Searefico?
Nguyễn Khoa Đăng: We are monitoring tariff developments closely, almost daily, and have prepared both contingency and opportunity capture plans.
In my view, every event has two sides—gain and loss. So far, the imposition and then suspension of tariffs have not significantly affected Searefico’s operations. If there is any impact, I believe it will be short-term and won’t alter our long-term strategy.
Strategy for Sustainable and Stable Growth
In an unpredictable global landscape, how has Searefico built its risk management system to minimize potential threats?
Nguyễn Khoa Đăng: Since 2018–2019, Searefico has implemented a three-lines-of-defense risk management model to enhance risk identification and control. After going through COVID-19 and economic crises, we’ve gained valuable lessons, continuously updating our management practices based on international best standards. This has enabled us to attract major, professional investors, especially from Japan.
It seems Searefico is quite focused on sustainable development. You’re active in solar power and non-fired panel manufacturing, and your Searee industrial building in Da Nang follows LEED standards. What is your long-term sustainability strategy?
Nguyễn Khoa Đăng: Searefico’s sustainable development strategy is clear, built on three ESG pillars—environment, social, and governance.
Searee (a member of Searefico) is accelerating the construction of the SIB industrial building. Photo: Searefico
On the economic front, we’re continuously diversifying our revenue sources through base revenue growth and seeking high-quality revenue streams. Socially, we’re enhancing welfare policies and benefits (evidenced by our inclusion in Vietnam’s Top 100 Best Places to Work in 2024). We’re also nurturing corporate culture and developing future talent. Environmentally, we’re committed to eco-friendly materials, energy efficiency, CO₂ emissions reduction, and achieving green building certifications (LEED, EDGE, etc.).
Searefico’s strategy emphasizes stable, long-term growth rather than burning through short-term resources. We aim to build a socially responsible enterprise.
Transparency, fair value distribution, and stakeholder balance are also core goals, helping us attract sustainable investors, high-quality talent, and long-term strategic partners.
Thank you!
Source: The Leader
