- Business
- Industrial Construction Joint Stock Company (UPCoM: ICC) is a Vietnam-based enterprise primarily engaged in civil and industrial construction contracting, real estate development, commercial property leasing, and the manufacture of building materials. The company operates through four core business segments: Construction and Engineering, Real Estate Development, Property Leasing and Warehousing, and Building Materials.
Under its Construction and Engineering segment, the company acts as a general contractor for the construction, structural installation, and finishing of industrial manufacturing facilities, residential high-rise towers, administrative buildings, commercial centers, sports complexes, water supply and treatment plants, and urban infrastructure works; including auxiliary infrastructure for industrial parks and public utility networks. Under its Real Estate Development segment, the company develops residential housing projects, office towers, and mixed-use commercial properties. Under its Property Leasing and Warehousing segment, the company offers commercial office leasing, retail floor rentals, warehouse storage facilities, open cargo storage yards, and building asset management services, notably managing and leasing commercial spaces such as the 25-story building at 71 Nguyen Chi Thanh in Hanoi. Under its Building Materials segment, the company produces and supplies precast concrete components, reinforced concrete structures, and complementary building supplies for engineering and building projects.
Originally founded in 1960 as Construction Site 105 and later operating as a state-owned enterprise under the Hanoi Department of Construction and the Urban Infrastructure Development Investment Corporation, the entity underwent equitization in 2007 to establish Industrial Construction Joint Stock Company and subsequently listed its shares on the UPCoM market in June 2016. Headquartered in Hanoi, Vietnam, the company conducts its operations across northern Vietnam, having constructed prominent public and commercial landmarks including the Hanoi City People's Committee headquarters, Yen Phu Water Factory, Dong Xuan-Bac Qua Market, Quan Ngua Sports Palace, and support facilities for Samsung in Bac Ninh.
In recent operational and corporate developments, the Hanoi Stock Exchange placed ICC shares under regulatory warning status following qualified audit opinions on its financial statements across consecutive fiscal years. Simultaneously, the company maintained an active shareholder distribution program, executing annual cash dividend payouts of 19.8% for 2023, 18% for 2024, and 12% in October 2025. In its strategic operations, the company has adjusted its operational priorities to emphasize contract debt recovery, stricter project risk controls across construction bidding, and the optimization of recurring rental yields from its commercial real estate and office portfolio in Hanoi.