Building the future

Kusto’s experience in Vietnam epitomises its vision and ability to act ahead of the pack.
Kusto saw the potential of what has become Asia’s most dynamic economy,
and today Kusto Vietnam is one of the largest and fastest-growing divisions within the group.

Kusto is bring a new luxury lifestyle to Ho Chi Minh City by developing the most unique project on the market– Diamond Island


Kusto is bringing a new standard of luxury and quality to Ho Chi Minh City, developing the most unique project on the market – Diamond Island 

The total land area of the project is 8 hectares with a full 360 degrees waterfront site – this makes Diamond Island the most private and exclusive condominium project. 

The project consists of two phases with a total construction floor area of 215000 m2. 

Created for the most demanding customers, The Brilliant Tower (Phase 1) completed in 2013 offers a unique lifestyle that utilizes Feng-shui to enhance prosperity and vitality. The tower’s world-class design is the brainchild of the internationally renowned Japanese architect, Arata Isozaki, who based his concept on optimal wind circulation and light distribution to spread prosperous Chi and vital energy to each apartment.

The second phase of the project was successfully launched on July, 2016 and is estimated to be completed by Q3 2018. It consists of 5 towers named after the most famous resort islands in the world – Hawaii, Bora Bora, Bahamas, Canary and Maldives. 

Alternative investments

Leveraging its ability to spot new market opportunities, Kusto has made a number of alternative investments in Vietnam. These include iCare, formerly known as MobiVi, a payment facility and online bank, the number one logistics provider and number two port operator, and a private medical clinic.

Using best-in-class construction, materials and development companies, Kusto is helping to raise standards and build the sustainable foundations
for this vibrant economy.


Kusto is the lead investor in the construction company Coteccons, the only Vietnamese construction company to be invited to bid against Korean and Japanese construction companies for large, complex government projects. It is widely recognised for superior technology and management systems that set it apart from the competition.

Listed on the Ho Chi Minh stock exchange, Coteccons is the market leader, doubling revenues between 2012 and 2015, employing more than 1,500 people. Through a strategy of mergers and acquisitions,
it is on track to achieve a 10 percent share of the residential and industrial construction markets
in Vietnam by 2020.

and Construction

Kusto’s cement companies are the regional leaders with approximately 20 percent of the cement market in central Vietnam, with a production capacity of 4m tonnes of cement per year.
One company in the group — Vietnam Construction Materials — also exports clinker.

Kusto is ideally positioned to benefit from strong growth in domestic and neighbouring construction markets and is already expanding in the south
of the country.

Revenues are split between bulk (10 per cent) and retail (80 per cent), with a further 10 per cent coming from clinker. 

Growth is expected to come from the retail sector
as the companies develop their own branded network, and further growth will come when the government privatises its cement holdings in the coming years.

“These investments are more opportunistic,” says Bolat Duisenov, country manager. “We invest and take one or two seats on the board, offering guidance and advice. I also have an executive role in iCare. We can add value and help develop strategy. It’s another way to help develop local champions.”

Leveraging its ability to spot new market opportunities,
Kusto has made a number of alternative investments