Sustainability is now on the main agenda of countries, also be a social license for companies. Multinational real estate firms such as Frasers Property are in a privileged position to play a major role in reducing their carbon footprint.
In line with group-wide sustainability goals, Frasers Property Vietnam is making significant progress towards its main sustainability goals. These are: being a net-zero carbon corporation by 2050; being climate-resilient and establishing adaptation and mitigation plans by 2024; green-certifying 80 per cent of its owned and asset-managed properties by 2024; financing the majority of its sustainable asset portfolios with green, sustainable financing by 2024; and training all of its employees on sustainability by 2021.
Frasers Property recognises that emerging technologies and solutions will be critical to help the company accelerate its sustainability goals, so it is an ongoing journey to keep track of these possibilities and improve its processes and systems to reach sustainability goals faster.
A key proof point, Melinh Point, a Grade A office building in Ho Chi Minh City’s central business district (CBD), has undergone a major asset enhancement initiative to be redeveloped with new green features with the adoption of environmental-friendly and advanced technologies to transit to lower-carbon energy sources, which are important in the company’s contribution to the fighting of climate change.
Worc@Q2, another new-prestigious office building of Frasers Property, is now getting ready to certify as a green building with a key focus on energy-efficient solutions.
Frasers Property Vietnam recently joined industrial property development, the hottest property segment in Vietnam, with high respect for clean and sustainable development. Binh Duong Industrial Park (BDIP), its first industrial park in Vietnam, is on track to be a green industrial park that achieves LEED certification. It is expected to reduce 40 tonnes of CO2 and substitute 16 tonnes of coal burned every year.
|Binh Duong Industrial Park, a sustainable industrial park developed by Frasers Property Vietnam |
In its effort, 15 per cent site area of the park is covered by indigenous trees. Low-power-density LED lighting is installed for premise zones while internal roads are lit up by solar lighting and controlled by a timer.
Solar photovoltaic systems, meanwhile, are being implemented while vegetative roof systems are installed to improve indoor air quality. To lower personal environmental footprint, Frasers Property encourages tenant staff to cycle to work with support in bicycle parking lots and showering facilities for cyclists, as well as charging stations for those going green with electric cars.
For many tenants, particularly multinational groups, the choice of green buildings is growing in importance, partnering with every stakeholder in the value chain to achieve sustainability goals.
Most tenants in commercial developments such as Melinh Point are currently on green leases, and the same approach will follow for Worc@Q2 as well as its first industrial project at the BDIP to spread awareness on climate issues. The One Bangkok, developed by Frasers Property (Holdings) Thailand, is the outstanding format that the company has followed for many other projects. Being Thailand’s largest integrated development over 16.7 hectares, the One Bangkok aims for sustainable development that improves the quality of life for users and is part of the community fabric.
At One Bangkok, sustainable construction management uses circular economy principles to recycle concrete waste into precast panels and develop holistic waste and pollution management plan.
Careful sustainable waste management is expected to reduce around six tonnes of CO2. Once complete, One Bangkok is expected to meet LEED certification and the WELL Platinum global standards, setting a new benchmark for green development in Thailand.
|Hua Tiong Lim joined as one of the panellists speaking at the Urban Land Institute |
City urban planners have to be responsive in reviewing and updating zoning plans and regulations to allow greater flexibility in response to the changing landscape. Apart from key projects located in the CBD areas, many others are built in areas further afield. Worc@Q2, offering approximately 4,500 sq.m of net leasable area that takes 15 minutes to the CBD, is poised to capitalise on the trends for office decentralisation and the setting-up of backup offices within Ho Chi Minh City.
The BDIP is located at a prime location that takes 20 minutes to Thu Dau Mot city, a destination for investors in advanced logistics. It has synchronous infrastructure, easy connectivity, and is labour-abundant. The One Bangkok is set to be a city within a city, within 15-20 minutes on foot or bicycle to key parts of Bangkok. The district will be peppered with activated public spaces, a place that tourists and locals alike will want to go to and keep returning to; a place to work, shop, play, and create.
Cities and businesses have to tap into technology/digital solutions to meet their customers’ needs. Having seen the possibilities and benefits, maintaining decent productivity will help accelerate the rise of smart cities and buildings.
Frasers Property Vietnam recognised early in 2021 that the handover of its newly completed apartments in Q2 Thao Dien may be disrupted due to lockdowns and the curtailment of overseas travel. To overcome this, the company assessed a third-party digital solution, HoloBuilder, that offers real-time virtual visits via pre-captured 360-degree panoramic high-definition photography of individual apartments and shared facilities including the library, swimming pool, and community room. This enabled customers to do a virtual walk-through to experience their new home.
In addition, homeowners were able to submit comments for a list of possible defects directly within the app without being physically present. For homeowners who wished to purchase furniture or appoint interior design services, exact measurements within individual apartments were also displayed.
More than 90 per cent of units handed over utilised this solution, a first in Vietnam, which helped ensure the health and safety of homeowners and the company’s staff. With the success and positive feedback, Frasers Property has had for this innovative deployment, they are further implementing the same solution across their commercial and industrial developments.
In the One Bangkok project, the entire community is made possible by a smart, centralised infrastructure system, the first of its kind for private development in Thailand. This system is responsible for district cooling to enhance liveability in its tropical climate, centralised security, water and energy management systems, a data centre, and more than 250,000 smart sensors that identify opportunities for preventative maintenance and oversee facility management.
Apart from those, a mobile platform connects building users and operations while video analytics with AI features support public safety. A digital twin of a physical and operating environment enables automation of operational processes, and a secure high-speed all-fibre network with seamless Wi-Fi connectivity is built throughout the district.
With Frasers Property’s consistent and continuous efforts made toward sustainable development, its projects have had recognised with respective awards.
Following the completion of the refurbishment works in early 2021, Melinh Point became the first existing non-residential building in Vietnam to achieve the prestigious Green Mark Platinum Certification awarded by Singapore’s Building and Construction Authority.
Frasers Property Group topped the Global Real Estate Sustainability Benchmark (GRESB) rankings with five global and regional sector leadership positions. They are also taking part in this journey and developing in an attempt to get high-score certification from the GRESB annually.
Also in 2021, to further embed environmental, social, and governance considerations across their value chain, Frasers Property unveiled its responsible sourcing policy. It outlines an approach that will be integral to the success of its net-zero carbon goal and the resilience of its business in the long term, towards responsible sourcing and establishment of the expectations it has on all suppliers. Frasers Property believes that adopting a partnership-based approach with reputable third parties like strong organisations, who recognise its sustainability efforts, will be integral to the success of the company’s net-zero carbon goal and the resilience of its business in the long term.
| ||Frasers Property committed to sustainable development |
Multi-class real estate developer Frasers Property is expanding its portfolio in Vietnam. Lim Hua Tiong, CEO of Frasers Property Vietnam, shared with VIR’s Quynh Chau the Singaporean group’s target to explore other investment fields towards sustainable development in the market.
| ||Frasers Property Vietnam choses CBRE as exclusive agent for Worc@Q2 |
Frasers Property Vietnam on August 18 officially named CBRE Vietnam as the exclusive marketing and leasing agents for Worc@Q2, its premium office component of the Q2 Thao Dien mixed-use development.
| ||Frasers Property Vietnam pushes green standards at flagship project |
Singaporean developer Frasers Property is one of Vietnam’s pioneering developers which has incorporated green factors into its projects across the country, complying with the highest qualifications on building and operating projects.
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Mergers and acquisitions in real estate have been more muted in Vietnam, but investor interest is predicted to perk up with recovery. Bich Ngoc talked with Lim Hua Tiong, CEO of Frasers Property Vietnam, about how he sees this investment method and what the future looks like for M&A in real estate in Vietnam.
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Responding to an appeal from Vietnam Red Cross Society's "Back to School" initiative, Frasers Property Vietnam organised a charity campaign raising a total amount of VND500 million ($21,740).
| ||Frasers Property Vietnam unveils first industrial development |
Multi-functional real estate developer Frasers Property Vietnam has unveiled its first industrial development in the country, named Binh Duong Industrial Park.
| ||Frasers Property diversifies its portfolio across Vietnam |
Frasers Property, a Singaporean multinational company that develops, owns, and manages a wide range of integrated properties, is now diversifying its portfolio in Vietnam. VIR’s Bich Ngoc talked with Chong Chee Keong, general manager of Industrial Property at Frasers Property Vietnam, who shared the group’s sustainability goals and strategies as a purpose-driven organisation.
| ||Frasers Property targets key projects in Vietnam |
Vietnam’s real estate market has seen the first signs of resuming business after two years of hardship. Truong An Duong, general manager of Residential at Frasers Property Vietnam, talked with VIR’s Bich Ngoc about the company’s investment strategy and key projects in the Vietnamese market.
| ||Frasers Property Vietnam commits to net-zero carbon future on Earth Day |
On April 22, Frasers Property Vietnam announced it is on track locally to become a sustainable business by meeting its commitment to become a net-zero carbon corporation by 2050.
| ||Frasers Property Vietnam offers enticing warehouse and factory concepts |
Industrial and logistic real estate are becoming increasingly more attractive as Vietnam benefits from the shifts in global supply chains, the strong effects of many free trade agreements, and its liberalised trade base.
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Key legislation, buyer characterisation, target sectors, and foreign ownership restrictions are some of the many points discussed in the second edition of the Frasers Vietnam Mergers & Acquisitions (M&A) Guide.