What FLC Faros Construction does

FLC Faros Construction (Công ty Cổ phần Xây dựng FLC Faros) is a Hanoi-headquartered Vietnamese construction main contractor (tổng thầu), founded in 2011 and listed on the Ho Chi Minh Stock Exchange under ticker ROS. The company specializes in executing large-scale resort, golf, hotel, residential, and tourism-urban infrastructure projects for FLC Group, its parent company and dominant client, across at least nine Vietnamese provinces. Its core differentiator is a proprietary rapid construction methodology branded as 'thần tốc' (lightning-fast), enabling mobilization of up to 5,000 workers on a single project with three-shift operations and completion of flagship projects such as the 6,000 billion VND FLC Sầm Sơn resort in 9 months and the 18-hole FLC Quy Nhơn international golf course in 5 months — both cited as world records. Equipment is sourced from Germany, Japan, and Australia, and internal operations run on ERP and an Office Portal; there is no evidence of proprietary software, AI, or platform technology.

The business model is project-based B2B construction contracting: revenue is generated as one-time contract revenue per project, with multi-year project durations and contract values ranging from hundreds of billions to several trillion Vietnamese dong. Pricing is privately negotiated and not publicly disclosed. The go-to-market is enterprise field sales through direct relationships with FLC Group as the anchor client; there is no self-serve, PLG, or third-party customer acquisition motion. Beyond FLC Group, secondary stakeholders include provincial governments where projects are sited (Thanh Hóa, Bình Định, Vĩnh Phúc, Quảng Ninh, Quảng Bình, Hà Giang, Phú Thọ, Hà Nội, Đà Nẵng), but these are not paying customers. The company was awarded Top 100 Vietnam Sustainable Brand (2015), Trusted Green 2016 (Inter Conformity Germany), Top Brands 2016 (Global GTA UK), VNR500 (2017), and ProFit 500 #54 (2017).

Operationally, FLC Faros entered severe distress in 2022: HOSE suspended ROS stock trading on August 12, 2022 for delayed Q2/2022 financial reports and unresolved legal representative registration; Deputy CEO Nguyễn Thiện Phú was arrested on September 12, 2022; Chairwoman Nguyễn Bình Phương resigned and was replaced by Lê Tiến Dũng as Chairman effective November 2, 2022; and the company subsequently lost its public company status. These governance and regulatory events, combined with the structural single-customer dependence on FLC Group, materially impair the company's growth outlook and operational continuity as of the most recent data available.

Name

FLC Faros Construction

Legal name

Công ty Cổ phần Xây dựng FLC Faros

Website

https://flcfaros.vn

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

FLC Faros Construction is a Hanoi-based Vietnamese construction main contractor executing large-scale resort, golf, hotel, and residential projects primarily for its parent company FLC Group, known for 'thần tốc' rapid construction delivery across multiple Vietnamese provinces.

Ownership category

akta.pro rank

Product category

Construction Contracting

NAICS

Heavy and Civil Engineering Construction (237), Industrial Building Construction (23621)

SIC

General Bldg Contractors - Nonresidential Bldgs (1540), Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Design-Build / EPC General Contracting (IMAFAAAD)

Keywords

• Construction contracting
• General contractor
• Resort construction
• Commercial building construction
• Civil engineering services

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Construction Contracting Revenue: FLC Faros generates revenue primarily as main contractor (tổng thầu) for FLC Group's construction projects, including resorts, golf courses, hotels, residential complexes, and infrastructure. Revenue is project-based, one-time per project, with large contract values typically in the hundreds of billions to trillions of VND.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

FLC Faros Construction operates as a main contractor (tổng thầu) executing large-scale civil, industrial, and tourism construction projects, primarily for its parent FLC Group. The company delivers eco-tourism resorts, golf courses, 5-star hotels, residential apartment towers, and commercial complexes across multiple Vietnamese provinces. Its competitive edge is the proprietary rapid construction methodology ('thần tốc') enabling record-breaking delivery of multi-trillion-VND projects within compressed timelines.

Product overview

FLC Faros Construction is a joint stock construction company operating as main contractor for large-scale real estate and resort projects under the FLC Group ecosystem. The company specializes in constructing eco-tourism resorts (FLC Sầm Sơn, FLC Quy Nhơn, FLC Vĩnh Thịnh Resort), residential apartment towers (FLC Complex Hà Nội, FLC Green Home, FLC Star Tower), and golf courses (FLC Quảng Bình Golf Links, FLC Hạ Long Golf Club). The company is known for rapid construction completion rates, completing major projects in 5-9 months. As a subsidiary aligned with FLC Group, FLC Faros functions as the primary construction arm executing the parent company's development pipeline.

Differentiator

Problem solved

Functional benefit

Products and services

• Main Contractor Construction Services (General Contracting) End-to-end general contracting for large-scale construction projects including resorts, hotels, apartments, and infrastructure, delivered under the proprietary 'thần tốc' (lightning-fast) construction methodology. Services include project management, workforce mobilization, equipment deployment, and engineering execution for the parent FLC Group and aligned project investors.
• Eco-Tourism Resort Construction Specialized construction of large eco-tourism resort complexes integrating 5-star hotels, luxury villas, golf courses, and entertainment facilities. Demonstrated delivery of 6,000 billion VND FLC Sầm Sơn resort in 9 months and 3,500 billion VND FLC Quy Nhơn Phase I in 8 months.
• International-Standard Golf Course Construction Construction of international-standard golf courses, designed in collaboration with Nicklaus Design and Flagstick, including full infrastructure systems, greens, fairways, and clubhouse facilities. FLC Quy Nhơn 18-hole course was delivered with world-record construction speed of 5 months.
• High-Rise Residential Apartment Construction Construction of high-rise residential apartment towers, condotels, and mixed-use residential buildings. Projects include FLC Complex Hà Nội (Phạm Hùng street), FLC Green Home, FLC Star Tower (418 Quang Trung, Hà Nội), and FLC Sea Tower Quy Nhơn.
• 5-Star Resort and Hotel Construction Construction of 5-star resort properties encompassing hotels, bungalows, restaurants, tennis courts, swimming pools, and yacht harbors. Includes FLC Vĩnh Thịnh Resort (Vĩnh Phúc province, 600 billion VND, 7.4 hectares) and FLC Hạ Long Golf Club.
• Urban District and Mixed-Use Development Construction Construction of urban districts, linked houses, commercial townhouses, and mixed-use developments. Includes FLC Eco Charm Đà Nẵng (60-hectare green urban district on Thủy Tú island) and FLC Lux City Quy Nhơn, an urban tourism project branded as 'city that never sleeps'.

Quantifiable outcome

• FLC Sầm Sơn ecological tourism resort (6,000 billion VND) completed in 9 months
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• FLC GroupcoreStrategic or Co-development PartnerFLC Group is the parent company and primary client of FLC Faros. FLC Faros serves as the main construction contractor for virtually all major FLC Group projects. The relationship deepened when Faros was rebranded to FLC Faros in November 2016, formalizing the strategic alignment with the FLC brand for integrated investment, development, and construction operations.
• BIDV (Bank for Investment and Development of Vietnam)minorOthersBIDV is listed as a partner on FLC Faros's website. The company maintains a business account (2221.0000.588105) at BIDV Thanh Xuân branch.
• VietinBank (Ngân hàng TMCP Công thương Việt Nam)minorOthersVietinBank is listed as a partner on FLC Faros's website, indicating a banking relationship.
• Licogi 13minorOthersListed as a partner on FLC Faros's website.
• FECONminorOthersFECON (Công ty Cổ phần FECON) is listed as a partner on FLC Faros's website — a major Vietnamese foundation and geotechnical engineering company.
• Hoa Sen Group (Tập đoàn Hoa Sen)minorOthersHoa Sen Group is listed as a partner on FLC Faros's website — a major Vietnamese steel and building materials supplier.
• Euro WindowminorOthersEuro Window is listed as a partner on FLC Faros's website — a supplier of construction windows and door systems.
• Delta Corp (Công ty Xây dựng dân dụng và công nghiệp Delta)minorOthersDelta Corp is listed as a partner on FLC Faros's website — a major Vietnamese construction company.
• Trường Đại học Thương Mại (Thuongmai University)minorOthersFLC Faros signed a cooperation agreement with Thuongmai University, indicating an academic partnership for talent development.
• Biscom (Công ty Cổ phần Đầu tư Du thuyền và Sân golf Biscom)minorStrategic or Co-development PartnerBiscom co-organized the FLC Faros Golf Tournament 2018 and 2017 with FLC Faros. Biscom operates FLC's golf courses and yachts. The partnership supports FLC Faros's annual golf tournament events and golf course construction projects.

Scale indicators8 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Delta Construction Joint Stock Company: Major Vietnamese construction firm for industrial, civil, and commercial projects. Directly comparable as a peer in the Vietnamese general-contracting market and listed as a partner on FLC Faros's website, reflecting overlapping capabilities and shared customer set.
• Coteccons Construction Joint Stock Company: One of Vietnam's largest private-sector general contractors, executing large-scale commercial, residential, and hospitality projects. Directly comparable as a Vietnamese main contractor competing for the same mega-project, hospitality-construction, and high-rise residential pipeline.
• Phục Hưng Holdings: Vietnamese general contractor active in commercial, hospitality, and high-rise residential construction. Comparable business model delivering turnkey construction for real-estate developers in Vietnam.
• Hòa Bình Construction Group: Top-tier Vietnamese general contractor for industrial, commercial, and resort developments. Comparable as a domestic main contractor delivering large tourism, residential, and industrial projects with a similar B2B project-based revenue model.

Emerging players

• FECON Corporation: Vietnamese foundation, geotechnical, and infrastructure construction firm. Comparable as a construction-industry partner to FLC Faros, with overlapping capabilities on civil and infrastructure work that supports large resort and real-estate developments.
• Licogi 13: Vietnamese construction and infrastructure firm listed as a partner on FLC Faros's website. Comparable as a smaller-scale contractor with overlapping capabilities in civil and infrastructure works supporting larger developments.

Broad incumbents

• Vinaconex: Large state-linked Vietnamese construction and infrastructure conglomerate with broad civil, industrial, and real-estate capabilities. Comparable as a much larger incumbent that overlaps with FLC Faros on heavy construction and project development.
• Sông Đà Corporation: Established Vietnamese construction and infrastructure group active in heavy civil, hydropower, and real estate. Comparable as a broader incumbent in Vietnamese construction, though with a different mix of public infrastructure and industrial projects.

Regional players

• An Phong Construction: Vietnamese contractor specializing in commercial and high-rise residential construction in southern Vietnam. Comparable business model and customer type (real-estate developers) but primarily active in a different geography than FLC Faros.
• UDIC (Urban Development and Investment Corporation): Hanoi-based urban development and construction firm active in commercial and residential building construction in northern Vietnam. Comparable as a regional contractor focused on building projects overlapping with FLC Faros's urban and residential portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FLC Faros Construction