Becamex Infrastructure Development

What Becamex Infrastructure Development does

Becamex Infrastructure Development Joint Stock Company (Becamex IJC, HOSE: IJC) is a Vietnamese public real estate and infrastructure developer established in 2007 and headquartered in Thủ Dầu Một, Bình Dương Province, operating as a strategic vehicle within the Becamex Group ecosystem under parent Becamex IDC. The company runs four business segments: (1) real estate development, producing residential villas, townhouses, shophouses, and apartments under brands including Sunflower I, Sunflower II, IJC Aroma, IJC Hòa Lợi, Becamex Green City, and Prince Town; (2) Build-Operate-Transfer (BOT) toll road operations on National Highway 13, covering 64.107 km with two non-stop electronic toll collection stations running under a government concession from 2002 to 2037; (3) civil engineering and infrastructure construction services delivered through its wholly-owned subsidiary Công ty TNHH MTV Xây dựng IJC; and (4) hotel and hospitality operations through Công ty TNHH MTV Khách sạn Becamex, including Becamex Hotel Thủ Dầu Một, Becamex Hotel New City, and the Grand Square Convention and Wedding Center.

Becamex IJC monetizes real estate through one-time unit sales at per-square-meter pricing (e.g., Sunflower II at 45 million VND/m², with 96% of 2025 real estate revenue from a single project), earns recurring transaction-fee revenue from the BOT toll concession, and captures construction contract revenue as main contractor on Becamex Group projects (Becamex Tokyu, VSIP/Sun Casa Central, Becamex Bình Dương) and on two large expressway PPPs (HCMC Ring Road 4, HCMC–Thủ Dầu Một–Chơn Thành). The company serves a customer mix of mid-market individual homebuyers and investors (15,000+ claimed), industrial-zone workforce housing (IJC Hòa Lợi adjacent to VSIP II), enterprise partners within the Becamex Group, and provincial government counterparties for PPP infrastructure. Distribution is direct, sales-led, with subsidiary-channel internal contracting and customer-acquisition leveraging the Becamex Group's industrial-zone land bank and government relationships in Bình Dương.

As of 2025, the company carried charter capital of 6,295.8 billion VND (raised from 3,777 billion VND via a public share offering exceeding 2,500 billion VND), total assets of ~10,459 billion VND as of March 31, 2026, and planned 2,454 billion VND in 2026 consolidated revenue (+36% YoY) with 541 billion VND in after-tax profit. Q1 2026 revenue of 253.5 billion VND was up 69.5% YoY and after-tax profit of 104.3 billion VND was up 129.2% YoY. The company holds 629,580,640 listed shares and has been listed on HOSE since April 5, 2010.

Name

Becamex Infrastructure Development

Legal name

Công ty Cổ phần Phát triển Hạ tầng Kỹ thuật

Website

https://becamexijc.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Becamex IJC is a Vietnamese publicly-listed real estate and infrastructure developer in Bình Dương province, building residential projects, operating a BOT toll road concession on National Highway 13, and delivering construction and hospitality services through subsidiaries within the Becamex Group ecosystem.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)

SIC

General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552), Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

New Construction & Builder Sales (BPAJAAAB)

Keywords

• Real estate development
• Infrastructure investment
• BOT toll operations
• Residential property development
• Civil engineering construction

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Sales: Revenue from selling residential units including villas, townhouses, apartments, and shophouses across projects such as Sunflower I, Sunflower II, IJC Green City, IJC Hòa Lợi, Prince Town, and Prince Town Extension. Major revenue driver historically; Sunflower II accounted for 96% of real estate revenue in 2025.
2. Construction Contracts: Revenue from construction and infrastructure contracting services, including acting as main contractor for Becamex Group projects and external clients. Also includes construction at Becamex Bình Phước. Major contributor to 2026 revenue plan of 2,454 billion VND.
3. BOT Toll Road Operations: Revenue from operating and collecting tolls on National Highway 13 under a Build-Operate-Transfer (BOT) contract from 2002 to 2037. Two toll stations with electronic non-stop collection. Project investment of 686.56 billion VND with route length of 64.107 km.
4. Hotel & Hospitality Services: Revenue from hotel operations through Becamex Hotel subsidiary, including Becamex Hotel Thu Dau Mot, Becamex Hotel New City, and Grand Square Convention and Wedding Center.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Becamex IJC (Infrastructure Development Joint Stock Company) develops and sells residential real estate including villas, townhouses, apartments, and shophouses across integrated township projects in Bình Dương province, Vietnam. The company also operates a 64.107 km Build-Operate-Transfer (BOT) toll road concession on National Highway 13 (2002-2037) with electronic non-stop toll collection, provides civil engineering construction services through a wholly-owned subsidiary, and runs hotel/hospitality operations under the Becamex Hotels brand. Revenue is generated from four segments: real estate sales (villas, townhouses, apartments, shophouses), construction contracting, BOT toll road operations, and hospitality services.

Product overview

Becamex IJC (Infrastructure Development Joint Stock Company) operates as a multi-sector infrastructure and real estate enterprise. The company offers a diversified portfolio of products and services organized into four main business segments: (1) Real Estate Development - including residential projects such as Sunflower I & II villas, Becamex Green City townhouses, Prince Town commercial houses, IJC Hòa Lợi residential area, and IJC Aroma apartments; (2) BOT Toll Road Operations - managing National Highway 13 with electronic toll collection; (3) Construction Services - civil engineering works including infrastructure, roads, electrical systems, and project management; and (4) Hospitality - hotel and restaurant services under the Becamex Hotels brand.

Differentiator

Problem solved

Functional benefit

Brands

• Becamex IJC: Primary brand name for CTCP Phát triển Hạ tầng Kỹ thuật, used in all official communications, investor relations, and project marketing.

Products and services

• Sunflower II Premium villa and apartment complex featuring modern design with 1,442 apartments and 87 villas located in Binh Duong New City. Sunflower II accounted for 96% of real estate revenue in 2025 with 92% absorption rate and average selling price of 45 million VND/m².
• Sunflower I Luxury villa project consisting of 99 villas with land areas from 432m² each, completed in 2025, located in Binh Duong New City.
• Becamex Green City (IJC Green City) Premium urban development project with 376 townhouses across 8 land plots (G5, G7, G8, G9, G23, G24, G27, G28) on 61,138m² of land, developed as part of the Becamex IDC urban project.
• Prince Town Extension (Phố Thương Mại Prince Town Mở rộng) Commercial townhouse expansion project with 314 linked houses on 36,354m² land area with 1,400 billion VND total investment, located in New Urban Area, Binh Duong Ward.
• Prince Town (Phố Thương Mại Prince Town) Commercial townhouse project with 60 linked houses on 6,462m² land area, located in New Urban Area, Binh Duong Ward.
• IJC Hòa Lợi Residential Area (Khu dân cư IJC Hòa Lợi) Residential project with 905 linked houses (2-3 floors) on 149,409m² land area, located in Hoa Loi Urban Area adjacent to VSIP II industrial zone, serving workers and employees in the industrial park.
• IJC Aroma Apartments (Chung cư IJC Aroma) Apartment complex consisting of 4 towers (17-20 floors) providing 616 apartments (70-152m² each) plus 56 kiosks for commercial use, located near ecological lake in Binh Duong Ward.
• BOT Quốc Lộ 13 (National Highway 13 BOT Toll Road) Build-Operate-Transfer project for National Highway 13 upgrade and expansion, spanning 64.107 km from Vinh Binh Bridge to Tham Rot Junction, with toll collection from 2002 to 2037 at 2 toll stations (Thị xã Thuận An and Thành phố Thủ Dầu Một) with electronic non-stop collection. Project investment of 686.56 billion VND.
• Becamex Hotels & Hospitality Hotel and restaurant services including Becamex Hotel Thu Dau Mot, Becamex Hotel New City, and Grand Square Convention and Wedding Center. Operated through 100% owned subsidiary Công ty TNHH MTV Khách sạn Becamex.
• Civil Engineering Construction Services (Xây dựng công trình kỹ thuật dân dụng) Civil engineering construction services including roads, electrical systems, water supply and drainage, telecommunications infrastructure, construction supervision, and project management consulting. Provided through 100% owned subsidiary Công ty TNHH MTV Xây dựng IJC (established 2012) serving as main contractor for Becamex Group projects and external clients.
• Electronic Toll Collection Service (Thu phí giao thông điện tử) Electronic automatic toll collection service (non-stop) implemented at 2 BOT stations on National Highway 13 (Thị xã Thuận An and Thành phố Thủ Dầu Một), covering 64.107 km total route length, following government Decision 19/2020/QĐ-TTg.

Quantifiable outcome

• Sunflower II luxury villa project achieved 92% absorption rate (80 of 87 units sold) with total contract revenue of 1,472 billion VND at average price of 45 million VND/m²
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• VSIP (Vietnam-Singapore Industrial Park Joint Venture)coreStrategic or Co-development Partner · 1 January 2007VSIP is a joint venture between Becamex IDC and Singapore's Sembcorp Development. Becamex IJC develops residential projects near VSIP industrial zones (e.g., IJC Hòa Lợi in VSIP II), and serves as construction contractor on VSIP projects (Sun Casa Central).
• Becamex IDC (Tổng Công ty Đầu tư và Phát triển Công nghiệp Becamex)coreStrategic or Co-development PartnerParent company and primary ecosystem partner. Becamex IDC is the core industrial zone developer in Bình Dương and the majority stakeholder in Becamex IJC. IJC develops residential projects within areas pioneered by Becamex IDC, and IJC serves as construction contractor on Becamex IDC projects. Becamex IJC also enters into related-party contracts with Becamex IDC for various projects and capital transactions.
• Becamex TokyucoreStrategic or Co-development PartnerJoint venture between Becamex IDC and Japanese company Tokyu. Becamex IJC serves as main contractor for civil works and construction at Becamex Tokyu's urban development projects in Bình Dương, including commercial areas, landscaping, and infrastructure.
• Công ty TNHH Liên doanh KCN Việt Nam – Singapore (VSIP Sun Casa)majorStrategic or Co-development PartnerBecamex IJC acts as main contractor providing materials, equipment, and construction for the Sun Casa Central project in VSIP industrial zones, covering multiple phases (2A1, 2A2, 2A4, 2B, 3A, 1A2, 1C2).
• Becamex Bình Phước (Công ty CP Phát triển Hạ tầng Kỹ thuật Becamex – Bình Phước)majorStrategic or Co-development PartnerAssociated company in which Becamex IJC holds 40.33% stake and 43.114% as of different disclosures. Becamex Bình Phước owns a 2,448 ha industrial park in Chơn Thành. IJC invests capital and participates in construction projects at this entity, with 2025 capital contribution of 90 billion VND for 7.5 million shares at 12,000 VND/share.
• Công ty CP Đường cao tốc TP.HCM – Thủ Dầu Một – Chơn ThànhmajorStrategic or Co-development PartnerBecamex IJC holds 20% ownership stake and contributed capital in two tranches (initial + second round of 42.3+ billion VND). IJC also serves as main contractor for approximately 24 km of construction on this expressway (total investment 8,833 billion VND), contributing 530 billion VND in equity (20% ownership).
• Công ty CP Đường Vành đai 4 TP.HCMmajorStrategic or Co-development PartnerBecamex IJC holds 36% ownership stake with capital contributions including a first tranche of 36 billion VND and a second tranche of ~200 billion VND. IJC serves as main contractor for approximately 26 km on the Ring Road 4 project (total investment 11,743 billion VND).
• Công ty TNHH MTV Xây dựng IJCcoreOthers100% owned subsidiary of Becamex IJC, operating in civil infrastructure construction, road construction, electrical works, water supply and drainage, telecommunications, construction supervision, design and project management consulting, real estate business, and residential/apartment management services.
• Công ty TNHH MTV Khách sạn BecamexcoreOthers100% owned subsidiary of Becamex IJC operating hotels, restaurants, and hospitality services under the Becamex Hospitality brand including Becamex Hotel Thu Dau Mot, Becamex Hotel New City, and Grand Square Convention Center.
• Bureau VeritasminorOthersInternational certification body that awarded Becamex IJC ISO 9001:2008 quality management system certification in 2009.
• Hồ Chí Minh Stock Exchange (HOSE)majorOthersBecamex IJC stock (IJC) listed on HOSE since April 5, 2010 with 629,580,640 shares currently listed.

Scale indicators11 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Novaland (NVL): Major Vietnamese residential and township developer. Both companies develop villa, townhouse, and apartment projects targeting middle-to-upper-middle class Vietnamese buyers, with comparable customer profiles and product mix though Novaland operates across multiple provinces.
• Hoa Binh Construction Group (HBC): Vietnam's largest listed general construction contractor. IJC's wholly-owned IJC Construction subsidiary operates in the same civil engineering and building construction space, though Hoa Binh operates at national scale while IJC Construction focuses on Binh Duong.
• Phat Dat Real Estate (PDR): Vietnamese listed residential real estate developer. Both companies develop villa, townhouse, and apartment projects targeting similar mid-to-premium buyer segments, with comparable revenue scale and listed on HOSE.
• Khang Dien House (KDH): Listed Vietnamese residential real estate developer focused on township projects. Both target middle-class buyers in industrial corridor and urbanizing regions, with similar townhouse and villa product offerings in Vietnam's southern provinces.
• Dat Xanh Group (DXG): Vietnamese listed real estate services and development company. Both operate in residential real estate development and brokerage in Vietnam's southern markets, with comparable customer segments and project types.
• Ho Chi Minh City Infrastructure Investment (CII): Vietnamese listed infrastructure investment company specializing in BOT toll roads. Both companies operate BOT highway concessions with electronic toll collection in southern Vietnam, with CII having larger portfolio scale and broader geographic spread.
• Nam Long Group (NLG): Vietnamese listed real estate developer with residential township focus. Both develop integrated residential communities (EHome, Valora, Flora brands vs. Sunflower, Green City for IJC) targeting similar middle-class buyer segments in urbanizing Vietnamese markets.

Broad incumbents

• Vinhomes (VHM): Vietnam's largest listed residential real estate developer. Both companies develop large-scale integrated residential townships in Vietnam, but Vinhomes operates at significantly larger scale and broader geographic scope than the Binh Duong-focused Becamex IJC.
• Becamex IDC: Parent company and core industrial zone developer in Binh Duong. Both are part of the Becamex Group ecosystem; Becamex IDC operates upstream as industrial zone master developer while IJC serves downstream residential and construction demand, making them complementary within the same value chain.

Others

• Becamex Binh Phuoc: Becamex IJC's 40.33%-owned associate developing a 2,448 ha industrial park in Chon Thanh. Both entities operate within the Becamex industrial zone development ecosystem with complementary residential and industrial infrastructure mandates, but Becamex Binh Phuoc is a sister entity rather than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 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 Becamex Infrastructure Development