SPX inks agreement with Frasers Property

Leveraging its international expertise in industrial property development, Frasers Property Vietnam’s built-to-suit facility will serve as SPX’s largest and most advanced automatic sorting centre in south Vietnam.

When fully completed, the centre will span a total area of up to 106,000 square metres with a processing capacity of over 2.5 million parcels per day and feature the latest automated goods sorting system.

The first phase of construction is scheduled for completion in 2025 with operations commencing within the same year. When launched, the centre is expected to contribute thousands of new jobs and economic opportunities to surrounding communities, aiding the overall development of Binh Duong province and improving logistics infrastructure in Vietnam.

From left, Chung Ngo Huy, SPX senior manager, Nguyen Kim Anh, director of SPX and Chong Chee Keong, general manager of Industrial and Edwin Tan, deputy CEO of Frasers Property Vietnam at the signing ceremony for SPX new built-to-suit logistics facility in Binh Duong Industrial Park

At the signing ceremony, Nguyen Kim Anh, director of SPX said that the company was pleased to partner with Frasers Property Vietnam on its Binh Duong automated sorting centre project.

"With its extensive proven track record in developing sustainable and high-quality real estate development globally, Frasers Property is a trusted partner that can provide us with state-of-the-art industrial facilities to build the largest and the most advanced SPX’s automatic sorting centre project in South Vietnam. We are confident that the centre’s strategic location in BDIP with easy access to key transport infrastructure will enable SPX to expand our scale of logistics operations quickly, professionally, and efficiently in Vietnam,” said Anh.

Anh also shared more about the company’s key objectives for 2024.

“In addition to strengthening the infrastructure network, SPX will continue to prioritise improving the customer experience by simplifying the process of handling customer support requests, shortening delivery times, and improving the quality and stability of services during seasonal peaks. All of these will contribute to cost optimisation, increase operational efficiency, and fulfil the goal of making SPX a reliable supplier with fast, accurate logistics services in Vietnam’s e-commerce industry,” she said.

Chong Chee Keong, general manager of Industrial at Frasers Property Vietnam said that the partnership with SPX underscored Frasers Property’s commitment to providing unique customer experiences through modern and sustainable premium industrial estate design, which is complemented by dedicated support services throughout the customer lifecycle.

“BDIP’s Premium Estates concept positions Frasers Property to meet the evolving requirements of tenants and will enable us to capitalise on favourable demand drivers for industrial space in Vietnam,” said Keong.

Frasers Property’s BDIP is the company’s first industrial park in Vietnam to incorporate its innovative industry-first Premium Estates concept.

In addition to high-quality industrial and logistics infrastructure, Premium Estates offer amenities and green open spaces to support the wellbeing of building occupants with best-in-class sustainability and technology, providing assurance for the future-readiness of businesses. The industrial park is one of few developments in Vietnam to be LEED certified, which recognises healthy, efficient, carbon and cost-saving green buildings.

Frasers Property Ltd. together with its subsidiaries, the Frasers Property Group, is a multinational investor-developer-manager of real estate products and services across the property value chain.

Listed on the Main Board of the Singapore Exchange Securities Trading Limited SGX-ST and headquartered in Singapore, the Group has total assets of approximately S$39.8 billion as at September 30, 2023.

Frasers Property's multinational businesses operate across five asset classes, namely, commercial and business parks, hospitality, industrial and logistics, residential and retail.

The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 20 countries and more than 70 cities across Asia, Australia, Europe, the Middle East, and Africa.

In Vietnam, Frasers Property has a well-diversified portfolio across asset classes, including commercial signature developments such as Melinh Point, a Grade A boutique office building in Ho Chi Minh City’s commercial District 1.

More than 180 hectares of industrial land area, within strategic locations in both the north and south of Vietnam, with almost a million sq.m of international grade and green certified industrial facilities will be developed to support the country’s growing manufacturing economy.

Frasers Hospitality also maintains a country presence with Fraser Suites Hanoi and Fraser Residence Hanoi.

Officially launched in 2020, SPX is a provider of reliable and cost-effective logistic services throughout the region, contributing to the support of effective businesses, sellers, and business brands. In Vietnam, SPX currently operates a freight logistic network spread across 63 cities and provinces across the country.

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