Viglacera

What Viglacera does

Viglacera Corporation - JSC is a Vietnamese state-owned conglomerate (equitized in 2014, publicly listed on the Vietnam Stock Exchange under ticker VGC) that operates two integrated business lines: construction materials manufacturing and real estate/industrial park development. Founded in 1974, the company employs 6,000+ people across 26 subsidiaries, 31 manufacturing factories, 16 industrial parks spanning 4,500+ hectares, 18 urban/residential projects, and a 5-star resort (Angsana Quan Lan). Its construction materials portfolio includes glass (Low-E energy-saving, solar control, super-white), ceramic and granite tiles (Eurotile brand, including large-format sintered stone/Vasta Stone), sanitary ware and faucets (now consolidated under VIGSA), autoclaved aerated concrete (AAC/ALC), and fired clay products; these are sold through 10+ company-owned showrooms nationwide, authorized distributors, and the shop.viglacera.vn e-commerce platform.Revenue is generated through four main streams: (1) industrial park land leasing to FDI manufacturers (recurring), which has attracted approximately $20 billion in cumulative foreign investment from anchor tenants including Samsung, Foxconn, Amkor, BYD, Canon, and POSCO Future M; (2) one-time sales of building materials to construction contractors and individual consumers; (3) real estate development including social housing (8,000 units completed in 2025, land bank for 10,000+ more), worker housing, and urban residential projects; and (4) resort/hospitality operations. The company achieved a record 2,140 billion VND pre-tax profit for full-year 2025 and reported first-two-months 2026 revenue of 2,171 billion VND with pre-tax profit of 232.9 billion VND (376% YoY), reaching 125% of its Q1 2026 plan. Viglacera leverages its state-owned enterprise background, 50+ years of brand history, and SOE partnerships (e.g., HANDICO joint venture) to access strategic infrastructure and social housing projects aligned with Vietnamese government policy.

Name

Viglacera

Legal name

Tổng công ty Viglacera - CTCP

Website

https://viglacera.com.vn

Company type

Public

Founded year

1974

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Viglacera is a Vietnamese state-owned construction materials manufacturer and industrial real estate developer, operating 31 factories and 16 industrial parks, producing tiles, sanitary ware, glass, and concrete products while leasing industrial land to FDI manufacturers and building social housing.

Ownership category

akta.pro rank

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Industrial park leasing and development: Leasing of industrial park land to FDI companies; major revenue driver with 16 industrial parks and 4,500+ ha of land
2. Building materials manufacturing and sales: Production and sale of construction materials: glass, sanitary ware, ceramic tiles, AAC products, fired clay tiles; sold through showrooms and distributor network
3. Real estate development: Social housing, urban development, and residential projects; completed 8,000 social housing units in 2025 with land bank for 10,000+ more units
4. Resort and hospitality: Five-star resort hotel operation including Angsana Quan Lan

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Viglacera manufactures basic construction materials including architectural glass, ceramic and granite tiles, sintered stone, sanitary ware and faucets, autoclaved aerated concrete (AAC/ALC), and fired clay roof tiles through 31 industrial factories. In parallel, it develops and manages 16+ industrial parks (over 4,500 ha) for FDI tenants, delivers social and worker housing, urban residential projects, and operates the Angsana Quan Lan five-star resort. Products are sold in Vietnam through company showrooms, authorized distributors, and shop.viglacera.vn, and exported to more than 40 countries.

Product overview

Viglacera is a state-owned conglomerate (converted to JSC) operating in two main sectors: construction materials manufacturing and real estate development. The construction materials portfolio includes sanitary ware and faucets (VIGSA brand), ceramic and granite tiles (Eurotile brand), energy-saving glass (Low-E, Solar Control, Super-White), sintered stone (Vasta Stone), and aerated concrete (AAC/ALC). The real estate segment focuses on developing and managing industrial parks, social housing, worker housing, and urban residential areas. The company operates 31 industrial factories and 16+ industrial parks across Vietnam, with products exported to 40+ countries.

Differentiator

Problem solved

Functional benefit

Brands

• Eurotile: Ceramic and granite tile brand under Viglacera
• VIGSA
• Angsana Quan Lan

Products and services

• VIGSA Sanitary Ware and Faucets Sanitary ware and faucet products including PVD-coated showerheads and smart water-saving equipment, manufactured by VIGSA (Viglacera Sanitary Ware Company Limited). Targeted at construction projects and residential consumers in Vietnam and export markets.
• Vasta Stone Sintered Stone Large-sized sintered stone slabs with internal veins, positioned as a high-tech construction material alternative to wood and natural stone. Sold to construction projects and residential consumers.
• Low-E Energy-Saving Glass Low-emissivity architectural glass that reduces heat transfer and improves thermal efficiency for residential, commercial, and industrial buildings.
• Solar Control Glass Glass designed to control solar heat gain in buildings, supporting energy-efficient facades and windows.
• Super-White Glass High-clarity architectural glass for premium residential and commercial construction.
• AAC (Autoclaved Aerated Concrete) / ALC Panels Lightweight autoclaved aerated concrete panels providing thermal insulation and structural support for sustainable construction. Produced by Viglacera AAC JSC for residential, commercial, and industrial projects.
• Eurotile Ceramic and Granite Tiles Ceramic and granite tiles including Premium Glazed Roof Tiles and thin 6mm tiles, produced by Viglacera Tien Son and related subsidiaries. Ranked among the world's top 20 ceramic tile manufacturers by production scale. Sold to construction projects and residential consumers through showrooms, distributors, and shop.viglacera.vn.
• Viglacera Premium Glazed Roof Tile Premium glazed roof tile line from the Eurotile brand, targeted at the Southern Vietnam market for residential and construction applications.
• Viglacera Industrial Parks (KCN) Industrial park land leasing and infrastructure services across 16+ parks covering 4,500+ hectares, including green and smart industrial parks. Targeted at FDI and domestic manufacturers seeking infrastructure-ready locations in Vietnam.
• Social Housing and Worker Housing (NOXH/NOCN) Affordable social housing and worker housing developments near industrial zones, including sale, lease-purchase, and rental units. Targeted at eligible low-income workers and households, with prices referenced at VND 18.4 million per m² and online lottery allocation systems.
• Urban Residential Areas and Real Estate Development 18 urban residential development projects delivered by Viglacera Real Estate Business Company, including mixed-use residential areas and integrated developments.
• Angsana Quan Lan Resort Five-star resort hotel operation under the Angsana brand in Quan Lan, Ha Long Bay, offering leisure stays and event hosting for tourists and corporate clients.

Quantifiable outcome

• 3.7x profit growth in first two months 2026 vs same period 2025
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• HANDICO (Hanoi Housing Investment and Development Corporation)coreStrategic or Co-development Partner · 1 June 2026Joint investment consortium for social housing development projects. HANDICO and Viglacera are co-developing the CT3 Kim Chung social housing project in Hanoi, implementing digital lottery systems for transparent housing allocation.
• ROX LivingcoreStrategic or Co-development Partner · 6 May 2026Strategic cooperation agreement signed between Viglacera Corporation and ROX Living. The partnership aims to leverage complementary capabilities of both enterprises for sustainable market development, combining scale, vision, and operational strengths.
• POSCO Future MflagshipStrategic or Co-development Partner · 1 April 2026POSCO Future M, a South Korean battery materials manufacturer, is investing $400 million in a battery materials production plant at Song Cong II Industrial Park in Thai Nguyen province. This represents a major FDI win for Viglacera's industrial park ecosystem, attracting high-tech manufacturing to Vietnam.
• SACMI.SCcoreTechnology or Integration · 1 November 2025Technology cooperation agreement signed for ceramic tile manufacturing technology exchange. SACMI.SC is a leading equipment and technology provider for ceramic production.

Scale indicators15 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Becamex IDC: Vietnamese industrial park developer in Binh Duong province. Most direct comparison for Viglacera's 16 industrial parks (4,500+ ha) and FDI-attraction playbook; both operate infrastructure-ready parks targeting large manufacturers relocating to Vietnam.
• SCG (Siam Cement Group): Thailand-listed industrial conglomerate with cement-building materials, ceramics, chemicals, and packaging. Closely parallels Viglacera's combination of basic materials manufacturing and large-scale property/infrastructure exposure across ASEAN.
• Surya Toto Indonesia: Indonesian leader in ceramic sanitary ware and fittings, joint venture with TOTO. Comparable to Viglacera's sanitary ware operations in Southeast Asian manufacturing footprint and export-driven model.
• Dong Tam Group: Vietnamese building materials and ceramics manufacturer operating large-scale ceramic tile, brick, and sanitary ware production. Closest domestic peer to Viglacera's manufacturing operations in ceramic tiles, bricks, and construction materials.
• Secoin: Vietnamese ceramic tile manufacturer and exporter. Most direct domestic peer for Viglacera's ceramic tile exports, both serving 40+ country export markets and competing in the same Vietnamese decorative tile segment.

Broad incumbents

• LIXIL Group: Global leader in sanitary ware and bathroom/kitchen solutions via brands like INAX, American Standard, and Grohe. Directly comparable to Viglacera's VIGSA sanitary ware and faucet business, but with much larger global scale.
• China Lesso Group: Large-scale Chinese building materials producer covering pipes, fittings, sanitary ware, and building materials. Comparable to Viglacera's diversified building materials portfolio with global distribution reach.
• TOTO Ltd: Japanese global leader in high-end sanitary ware and smart water-saving bathroom products. Directly comparable to Viglacera's smart water-saving PVD-coated sanitary ware technology focus under VIGSA.
• Mohawk Industries: World's largest flooring manufacturer with leading ceramic tile brands (Marazzi, Daltile, Kerama Marazzi). Comparable benchmark for Viglacera's Eurotile ceramic tiles (Top 20 globally) and roof tile product lines.

Regional players

• Kinh Bac Corporation (KBC): Vietnamese industrial park developer and real estate company. Comparable to Viglacera's industrial park leasing business and large land bank strategy in attracting FDI tenants.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCqzCV3-uROdx9t1T61o9_Lw
• Facebookfacebook.com/viglacera.official
• LinkedInlinkedin.com/company/viglacera
• Xx.com/viglaceraltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries10 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 Viglacera