Gaw Capital bets on “China plus one” opportunities in Vietnam

April 24, 2024 | 09:00
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Gaw Capital Partners, one of the biggest global real estate private fund management firms, is focusing on industrial real estate and logistics in Vietnam and Mexico, amid challenges to an economic recovery in mainland China.

According to Goodwin Gaw, chairman, managing principal and co-founder of Gaw Capital Partners, US-China trade tensions could continue to be an issue for the next 10-15 years.

“I want to invest in countries that are the biggest beneficiaries of the China+1 strategy like Vietnam and Mexico because they welcome Chinese firms setting up production facilities. The biggest beneficiaries will be those who allow Chinese factories to open up and hire local labour to produce the same goods for foreign clients,” Gaw said.

Gaw Capital bets on “China plus one” opportunities in Vietnam
Goodwin Gaw, chairman, managing principal and co-founder of Gaw Capital Partners

In Vietnam, via a joint venture named Gaw NP Capital, Gaw Capital Partners' investments span the entire spectrum of the real estate sector, including residential, commercial, retail, hospitality, industrial, and internet data centres.

Gaw NP Capital has shown a keen interest in developing its industrial platform (known as Gaw NP Industrial), especially in the north of Vietnam. The platform is currently managing nearly 500,000 sq.m of ready-built factories and warehouses in key locations such as Thai Nguyen, Haiphong, and Ha Nam.

GNP Nam Dinh Vu Industrial Center, located within Nam Dinh Vu Industrial Park in Haiphong, has successfully attracted numerous foreign investors engaged in electronics, cleaning equipment, and other industries to its ready-built facilities.

The industrial centre has achieved a significant occupancy rate of 50 per cent after only eight months of operation.

In Ha Nam's Dong Van 3 Industrial Park, GNP Dong Van 3 is also getting ready to mark its inauguration and welcome its anchor tenant AUO Corporation, an optoelectronic corporation from Taiwan.

Gaw Capital bets on “China plus one” opportunities in Vietnam
GNP Nam Dinh Vu recorded an impressive 50 per cent occupancy rate after eight months of operation

In Vietnam, despite ongoing macroeconomic challenges and uncertainties, Gaw NP Industrial remains steadfast in its commitment to strategically expand its investment portfolio in industrial real estate. This includes the selective pursuit of opportunities, alongside the prudent restructuring of mature operating assets.

“Our conservative methodical underwriting strategy and disciplined investment practices, combined with our extensive local expertise in executing projects in the Vietnam market, has enabled us to maximise economic benefits for both our clients, tenants and investors,” said Vo Sy Nhan, CEO and co-founder of Gaw NP Capital.

Gaw Capital Partners is a uniquely positioned private equity fund management company focusing on real estate markets in Asia Pacific and other high barrier-to-entry markets globally.

Specialising in adding strategic value to under-utilised real estate through redesign and repositioning, Gaw Capital runs an integrated business model with its own in-house asset management operating platforms in commercial, hospitality, property development, logistics, and education. It has raised equity of $22.3 billion since 2005 with assets of $33.7 billion under management as of Q3 of 2023.

Gaw NP Industrial is a prestigious development by Gaw NP Capital – a joint venture between Gaw Capital Partners and NP Capital.

Backed by global expertise and local know-how, Gaw NP Industrial pioneers in one-stop-shop solutions, catering to the ever rising demand for modern warehousing and factory spaces from customers in the e-commerce, supply chain, and manufacturing industries.

It has an extensive premium industrial product portfolio across Vietnam, including ready-built factories and warehouses, built-to-suit facilities, and logistic hubs, tailored to customers’ diverse business requirements and growth journeys.

Investment sentiment upbeat in industrial property arena Investment sentiment upbeat in industrial property arena

The logistics sector has seen a number of large-scale investments in the first months of the year as it experiences a period of significant growth that is vital to the ongoing development of the country’s economic recovery.

Gaw Capital to increase its footprint in Southeast Asia Gaw Capital to increase its footprint in Southeast Asia

The pan-Asian private equity firm Gaw Capital is scouring Southeast Asia, including Vietnam, in search of potential investment opportunities in the real estate technology sector.

By Bich Ngoc

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