Frasers Property Vietnam (FPV) and GELEX Group jointly broke ground on the Industrial Centre Yen Phong 2C in Bac Ninh province on September 19, to make their first industrial and logistics project in North Vietnam since the signing of a partnership agreement in March.
|Industrial Centre YP2C is scheduled to be completed in the second quarter of 2024 and will feature 34,500 sq.m of high-quality industrial and logistics space |
Industrial Centre YP2C is scheduled to be completed in the second quarter of 2024 and will feature 34,500 square metres of high-quality industrial and logistics space designed in accordance with Frasers Property’s premium estates concept that reflects its commitment to healthy, sustainable, and high-performing industrial assets.
The 3-in-1 multi-functional industrial space will seamlessly integrate showroom, office, and production assemblies with 7,000sq.m dedicated to a green recreation park and on-site service centre to support occupier wellbeing in the estate.
According to Lim Hua Tiong, CEO of Frasers Property Vietnam, Bac Ninh is a strategic manufacturing hub in the northern key economic zone that is contributing to Vietnam’s push to move up the value chain.
Nguyen Trong Hien, chairman of GELEX Group, stated, said the ceremony signifies a significant milestone in the execution of his strategy to establish a partner ecosystem with globally recognised companies, thereby expanding the market and value chain for GELEX Group's core business segments.
Industrial Centre YP2C is being developed, constructed, managed, and operated by Frasers Property Vietnam, leveraging its exceptional capabilities in accordance with international standards. Furthermore, their expertise and understanding of the domestic market in regional infrastructure aligns perfectly with GELEX's vision.
“We are confident that Industrial Centre YP2C will exceed the expectations of our customers, serving as the cornerstone of Vietnam's premier green and sustainable industrial park,” Hien said.
Industrial Centre YP2C is designed to meet LEED certification standards with strong sustainability and technology features aimed to support workplace productivity as well as the health and wellbeing of occupiers. These include the use of construction materials which prioritise natural light, promoting energy efficiency and the enhancement of the building life-cycle.
As a multinational real estate developer, Frasers Property takes a long-term view for its projects and has committed to green-certify its owned and asset-managed properties as part of its sustainability goals.
Frasers Property’s commercial developments in Vietnam are green-certified or in the process of pursuing certification. Its Eco Logistics Centre, a ready-built warehouse development managed by FPV recently obtained LEED certification, while Binh Duong Industrial Park, Frasers Property’s first industrial development in Vietnam, is also on track to receive the certification.
| ||Industrial real estate increasingly attractive to investors |
A total of $8.88 billion was in registered foreign investment in Vietnam as of April 20, in which real estate ranked third with nearly $972 million. Truong An Duong, general manager for North Vietnam and Residential at Frasers Property Vietnam, shared methods to lure in more investment to Vietnam's industrial real estate market with VIR's Bich Ngoc.
| ||First LEED-certified ready-built warehouse in Vietnam developed by Frasers Property |
Frasers Property Vietnam announced on July 18 that the US Green Building Council (USGBC) has confirmed its Eco Logistics Centre as the country's first LEED-certified ready-built warehouse.
| ||Frasers Property Vietnam receives LEED Gold certification for new commercial building |
Frasers Property Vietnam announced on September 7 that its commercial building Worc@Q2 has received the Leadership in Energy and Environmental Design (LEED) Gold certification for Operations and Maintenance.