Thailand's KBank offers $44 million loan to BW

To support BW’s projects within the ready-built factories platform in 2024, KBank HCM will provide VND1.12 trillion ($44 million) in financial support to BW through loan facilities.

The deal marks a significant milestone in the sector's development, showcasing a collaborative effort to capitalise on Vietnam's burgeoning logistics and industrial estate platform.

Chatuporn Boozaya-Angool, KBank's general director said, "As a seasoned player in the Vietnamese market, KBank is dedicated to leveraging our robust corporate and FDI capabilities to catalyse growth. This partnership with BW underscores our profound understanding of the local and international business landscape and its potential for expansion."

BW’s CFO Paul Wee said, “As Vietnam's leading logistics and industrial real estate platform, we are uniquely positioned to meet the evolving needs of global clients seeking to establish themselves in Vietnam. With our large land bank, operational excellence, and strong network, we are the partner of choice to capture the growth driven by the manufacturing shift as Vietnam has emerged as the prime destination for supply chain diversification,”

The partnership between KBank and BW Isets ambitious goals with promising future prospects. As KBank leverages its financial expertise and commitment to the Vietnamese market, it anticipates substantial income growth from the collaboration in FY2024 and FY2025.

With a strategic focus on supporting local conglomerates and facilitating foreign direct investment (FDI), KBank aims to enhance its position as a key player in Vietnam's financial landscape while fostering economic development.

Simultaneously, BW anticipates significant mutual benefits arising from the partnership. Beyond financial support, the collaboration promises to enhance industrial infrastructure across key provinces, facilitating the seamless operation of businesses within the sector.

By leveraging KBank's financial resources and expertise, BW aims to accelerate its ambitious expansion plans, including the launch of new projects within the ready-built factories platform.

With a shared vision for growth and prosperity, this collaboration underscores the strategic importance of leveraging financial expertise and industrial leadership to drive sustainable development.

According to Cushman & Wakefield, the industrial and logistics real estate segment has emerged as a standout performer, outpacing most other asset classes thanks to the development of manufacturing and export industries, e-commerce, transportation, and warehousing since 2018.

The "Market Report on Vietnam Real Estate in 2023 and Forecast for 2024" conducted by the Real Estate Brokers Association reveals that in 2023, Vietnam saw the establishment of seven industrial zones (IZs) and the initiation of construction for 13 more.

Industrial zones attracted over 10,400 domestic investment projects and more than 11,200 foreign-invested projects, with registered capital totalling approximately $99.8 billion and $231 billion, respectively.

BW Industrial Development appoints Gene King as chief investment officer BW Industrial Development JSC, one of the Vietnam’s leading logistics and industrial real estate developers, announced the appointment of Gene King as its chief investment officer, effective March 1.

BW and ESR break ground on two joint venture projects in Bac Ninh BW Industrial Development JSC (BW), Vietnam’s leading logistics and industrial real estate developer, and ESR Group Limited (ESR; SEHK Stock Code: 1821), Asia-Pacific’s leading real asset manager powered by the New Economy, have announced the commencement of construction of two double-storey projects with a total gross floor area (GFA) of 270,000 sqm in Bac Ninh.

KBank in Ho Chi Minh City increases capital to over $285 million The KBank branch in Ho Chi Minh City has announced that it has received approval from the State Bank of Vietnam (SBV) to increase its capital by more than 2.5 times, from $80 million to $285 million.