Australian real estate group LOGOS is the latest name shifting business to Vietnam as US-China tensions are growing fiercer.
|LOGOS accelerates investment in Southeast Asia |
LOGOS, a member of Sydney-headquartered ARA Group, has just revealed the plan of mobilising $1.2 billion to enter Vietnam and South Korea, according to newswire DealStreetAsia.
The company is calling $400 million for its blueprint in Vietnam and also $800 million in South Korea. Previously, LOGOS assembled investments from Canada Pension Plan Investment Board and Ivanhoe Cambridge, among others for its expansion plan in Singapore and Indonesia.
Most recently, the company has assigned Glenn Hughes, former director of Capital Project & Infrastructure at PwC Vietnam, to the position of head of the country. Looking further, LOGOS will focus on merging and developing lashings of brands major in logistic, e-commerce, and food, among others.
“Vietnam came on the global stage two years ago. We were first asked to come to Vietnam to support one of our major customer’s interest in Ho Chi Minh City. As we opened doors with other customers, our commitment to set up in Vietnam was resolute as the needs of these companies became evident,” one of the company’s founders quoted by DealStreetAsia.
He also said that as the global supply chain is under degradation due to the trade war, Southeast Asia has arisen as an immense potential investment opportunity for overseas investors.
Before draining capital to Vietnam and South Korea, LOGOS invested about $400 million in Indonesia in 2019.
LOGOS was founded in 2010 by John Marsh and Iliffle then was acquired by ARA in this March. Since then, the company has shifted to mainly operate in industrial property. As of June 2020, LOGOS had more than six million square metres of real estate space worth $7.16 billion through 20 joint venture projects.
By Van Anh