GELEX Group promoting new property and industrial ventures

YP2C Centre in Yen Phong 2C IP of Bac Ninh province

Contributing 15 per cent to total revenue, the industrial park (IP) and real estate segment is accounting for 39 per cent of the group’s profits.

In its strategy, the company has gradually transformed IPs from a basic traditional model into an industrial city model integrating ecological urban areas, aiming for greener development. The model will be a fusion of production, living and commercial space, aiming to entice the world’s top businesses.

In addition, GELEX has developed cooperation with multinational corporations such as Frasers Property Vietnam to develop high-end industrial centres meeting international standards in northern Vietnam. A joint venture between the two is set to deploy projects worth around $250 million in the first phase.

GELEX is tranforming its industrial complexes to become more modern and integrated

After one year of cooperation, the collaboration has started construction on three high-end industrial real estate ventures: YP2C Centre in Yen Phong 2C IP of Bac Ninh province; Yen My Industrial Centre in Yen My IP of Hung Yen province; and Dong Mai Industrial Centre in Dong Mai IP of Quang Ninh province. All are in the north.

The high-quality industrial spaces feature ready-built factories and warehouses, as well as built-to-suit complexes with features that meet high-quality criteria that help to improve productivity and focus on the wellbeing of workers. All projects are designed to meet LEED certification requirements.

The efforts to upgrade IPs and real estate products will contribute to boosting international demand and enticing foreign investment flow to increasingly sought-after green IPs in Vietnam, GELEX said.

Meanwhile, Viglacera Corporation, a member unit of GELEX, currently possesses a large amount of industrial land in localities nationwide.

Viglacera currently owns 12 IPs, including one in Cuba, with over 4,000ha of land for rent, attracting more than 400 domestic and foreign investors. These include many large-scale manufacturing and high-tech corporations including Samsung, Hyosung, Amkor, Canon, Yazaki, Toyoda Gosei, Foxconn, and BYD.

Viglacera’s Dong Van 4 Industrial Park in Ha Nam province

In March, two schemes on IP infrastructure construction and development were consecutively assigned to Viglacera’s member units. The first is the Doc Da Trang IP infrastructure investment and construction project based in the south-central province of Khanh Hoa. It is valued at an estimated $75.3 million and was assigned to Viglacera Yen My.

The other initiative is the second-phase Song Cong II IP infrastructure construction and development in Thai Nguyen province in Vietnam’s northeast, valued at around $66 million and assigned to Viglacera Thai Nguyen.

In the previous month, Viglacera announced the kick-off of Thuan Thanh Eco-Smart IP in the northern province of Bac Ninh. It is located near Ring Road 4 and expected to be completed in 2026.

Viglacera’s IPs bring diverse choices to investors, meeting abundant requirements from businesses. The company strives to best avail of existing advantages to effectively deploy investment preparation and compensation, especially promote sales and lease of IPs, bringing high efficiency to the real estate segment.

At the same time, it continues to develop new IP projects in localities with advantages in land, transportation infrastructure, power and water sources, and social housing schemes, to bring utmost comfort to customers.

Gelex targets making it to Top 20 Vietnamese private businesses After three years of comprehensive restructuring, Gelex has gained outstanding growth in the four key business lines of industry, utility (including power generation and clean water), logistics, and real estate.

Gelex gives up logistics core to widen foothold in industrial park development Gelex will give up logistics, which is one of its four core business sectors, and divest from Dong Nai Port JSC to wade deeper into industrial park development.

Gelex to raise stake in Viglacera The Vietnam Electrical Equipment JSC (Gelex) plans to acquire a 21 per cent stake in the industrial group Viglacera.

Gelex explores divestment in energy projects Vietnamese conglomerate Gelex Corporation is in negotiations to divest its stakes in power projects to foreign inevstors.

GELEX and FPT sign MoU on digital transformation A new deal between GELEX Group and FPT Corporation is expected to advance comprehensive digital transformation and both parties' business operations, while further driving the country’s development.

Gelex and Bamboo Capital hold significant stakes in Eximbank Gelex Group and Bamboo Capital Group have been revealed to hold the largest stakes in Eximbank, following the release of a list of the bank's major shareholders on July 24.