Central Power Real Estate

What Central Power Real Estate does

Central Power Real Estate Joint Stock Company (Công ty Cổ phần Bất Động Sản Điện Lực Miền Trung), operating under the EVN-Land Central brand and listed on the Ho Chi Minh Stock Exchange as ticker LEC, is a Vietnam-based real estate investment and development company headquartered in Da Nang. It was established in November 2007 by four state-owned shareholders affiliated with Vietnam Electricity Group (EVN), including EVN itself, Central Vietnam Power Corporation, Da Nang Electricity, and Khanh Hoa Electricity, with charter capital of 261 billion VND. The company's core activities are the development, sale, and leasing of residential and mixed-use real estate in Central Vietnam, anchored by the EVN-Land Central Da Nang Complex — Phase 1 of which is Harmony Tower, a 16-story, 124-unit residential building designed by French architect Christophe Jean Luis and reported as fully occupied with over 90% foreign residents — together with the 54-plot Phu Loc An residential project and a planned 218–250-room 4-star hotel in Phase 2 with a 385 billion VND budget. The company also runs the EVN-Land Central Real Estate Exchange Floor (launched 2008), a brokerage and advisory platform for property transactions across the Central region, and manages premium office space at the 78A Duy Tan building in Da Nang. Revenue is generated through one-time property sales (Harmony Tower units, land plots), recurring leasing income (offices and apartments), brokerage/transaction fees, and land use rights transfers, with a customer base spanning individual homebuyers, expatriate tenants, and domestic and international real estate investors. As of late 2024 the company disclosed material financial distress: shares were placed on HOSE's trading-suspension list, an administrative tax penalty was issued, and one subsidiary was reclassified out of consolidation.

Name

Central Power Real Estate

Legal name

Công ty Cổ phần Bất Động Sản Điện Lực Miền Trung

Website

https://lec.com.vn

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Central Power Real Estate (HOSE: LEC) is a Da Nang-based, EVN-affiliated real estate developer and broker that sells and leases apartments, land plots, and mixed-use developments across Central Vietnam, with a captive brokerage exchange floor and an upcoming 4-star hotel project.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Lessors of Other Real Estate Property (53119), Residential Property Managers (531311), Nonresidential Property Managers (531312), Land Subdivision (23721)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

akta.pro secondary industries

Multifamily Apartment Property Management (BPAJAFAA), Office Real Estate Asset Management (BPAJAMAG)

Keywords

• Residential real estate development
• Apartment building sales
• Real estate brokerage services
• Commercial property leasing
• Mixed-use property investment

Headquarters

HQ city

Da Nang

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development and Sales: The company invests in land acquisition, constructs residential and commercial buildings, and sells apartment units (e.g., Harmony Tower with 124 units) and land plots. This is the primary revenue driver, including the EVN-Land Central Da Nang mixed-use complex spanning hotel, commercial, and residential components.
2. Property Leasing and Management: Operating and managing premium office space (5,000m2 at 78A Duy Tan building) and apartment units for lease. Harmony Tower is noted to be fully occupied with over 90% foreign residents, generating recurring rental income.
3. Land Use Rights Transfer: Transferring land use rights and investing in infrastructure on leased land for resale or sub-leasing, including commercial centers, supermarkets, hotels, and restaurants.
4. Real Estate Brokerage and Advisory: Operating the EVN-Land Central real estate exchange floor to provide property brokerage, consulting, and transaction services across the Central region.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Central Power Real Estate invests in land, develops mixed-use residential and commercial properties, and sells or leases apartments, land plots, hotel units, and office space in Central Vietnam. Its flagship is the EVN-Land Central Da Nang Complex, including Harmony Tower (124 apartments) and a planned 22-story hotel, alongside the Phu Loc An 54-plot residential subdivision. The company also operates the EVN-Land Central Real Estate Exchange Floor for brokerage and advisory services across the Central region.

Product overview

Central Power Real Estate (LEC) operates as a real estate investment and development company with a diversified portfolio including mixed-use complexes, residential apartments, and land development projects. The company's primary offerings include the EVN Land Central Da Nang Complex (a mixed-use development with hotel, commercial center, and apartments), Harmony Tower (a 16-story, 124-unit apartment complex), the Phu Loc An residential area, and a real estate trading floor. Phase 2 of the Da Nang complex includes a 22-story, 218-250 room hotel. The company also manages office leasing operations at 78A Duy Tan building and sports facilities.

Differentiator

Problem solved

Functional benefit

Brands

• Harmony Tower: Residential apartment complex within the EVN-Land Central Da Nang Complex Phase 1, 16-story building with 124 apartments ranging from 1 to 3 bedrooms, located on Phạm Văn Đồng road, Da Nang.

Products and services

• Harmony Tower
• EVN-Land Central Real Estate Trading Floor (Sàn giao dịch bất động sản EVN-Land Central)
• Phu Loc An Residential Area (Khu Dân cư Phú Lộc An)
• Office Leasing at 78A Duy Tan Building
• EVN-Land Central Da Nang Complex - Phase 2 Hotel

Named customers2 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

Partnerships

One partnership is on record.

• Nguyễn Kháng ChiếncoreOthers · 16 November 2016Elected as Chairman of the Board of Directors (HĐQT) and General Director of LEC on 16/11/2016 at an extraordinary shareholders' meeting.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Vinhomes (VHM): Vietnam's largest real estate developer, part of Vingroup, developing large-scale residential, mixed-use, and master-planned communities. Comparable to LEC in mixed-use development model but operates at vastly larger scale nationally.
• Becamex IDC (BCM): Vietnamese industrial and urban real estate developer, linked to Binh Duong province. Comparable as a large state-linked developer focusing on mixed-use and industrial-urban developments.

Others

• Hoa Binh Construction Group (HBC): Vietnamese general construction contractor active in residential and commercial building. Comparable as a Vietnam-based construction stakeholder, though operating as contractor rather than developer.

Direct peers

• Novaland (NVL): Major Vietnamese real estate developer focused on mid-to-high-end residential and mixed-use projects in Ho Chi Minh City and key tourism destinations. Direct peer in Vietnamese residential and mixed-use development.
• Nam Long Group (NLG): Vietnamese real estate developer specializing in residential townships and mixed-use developments with EHome, Flora, and Valora product lines. Comparable in residential apartment development and project scale.
• Phat Dat Real Estate (PDR): Vietnamese developer focused on residential and commercial real estate in Ho Chi Minh City and southern provinces. Comparable as a mid-sized Vietnamese developer with a national growth strategy.
• Dat Xanh Group (DXG): Vietnamese real estate developer and brokerage operating across residential development and real estate services. Comparable in combining property development with brokerage operations.
• Khang Dien House (KDH): Vietnamese residential property developer focused on affordable and mid-market housing in Ho Chi Minh City. Comparable as a mid-sized developer with a regional concentration strategy.

Emerging players

• DRH Holdings (DRH): Vietnamese real estate developer with residential and mixed-use projects in Ho Chi Minh City and Binh Duong. Comparable as a small-to-mid cap Vietnamese developer with a regional focus.
• Son Kim Land: Vietnamese developer focused on premium residential and mixed-use projects in Ho Chi Minh City and Da Nang. Comparable in high-end residential focus and Da Nang market presence.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 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 Central Power Real Estate