Frasers Property Vietnam (FPV), one of Vietnam’s leading diversified property developers, and the local multi-sector investment holding company GELEX Group have jointly broken ground on Frasers Property Vietnam, Industrial Centre Yen Phong 2C (Industrial Centre YP2C) in Bac Ninh Province. This marks their first industrial and logistics project in northern Vietnam since the signing of a partnership agreement earlier in March.
Industrial Centre YP2C is scheduled to be completed in the second quarter of 2024 and will feature 34,500 sq.m of high-quality industrial and logistics space designed in accordance with Frasers Property’s Premium Estates concept that reflects its commitment to creating healthy, sustainable, and high-performing industrial assets. The 3-in-1 multi-functional industrial space will seamlessly integrate showroom, office, and production assemblies with 7,000 sq.m dedicated for a green recreation park and on-site service centre to support occupier wellbeing in the estate.
Mr Lim Hua Tiong, CEO of Frasers Property Vietnam, said, “Bac Ninh is a strategic manufacturing hub in the Northern Key Economic Zone that is contributing to Vietnam’s push to move up the value chain. We are delighted to partner GELEX Group on Industrial Centre YP2C. Its premium ready-built-factory and ready-built hybrid spaces are versatile and well-positioned to cater to the unique requirements of customers, which supports the country’s industrial transformation and attractiveness as a key investment destination.”
Industrial Centre YP2C will be designed to meet LEED certification standards with strong sustainability and technology features aimed to support workplace productivity as well as the health and wellbeing of occupiers. These include the use of construction materials in the project which prioritise natural light, promoting energy efficiency and the enhancement of building life-cycle impact reduction.
As a multinational real estate developer, Frasers Property takes a long-term view for its projects and has committed to green-certify its owned and asset-managed properties as part of its sustainability goals.
Frasers Property’s commercial developments in Vietnam are green-certified or in the process of pursuing certification. Its Eco Logistics Centre, a ready-built warehouse development managed by FPV recently obtained LEED certification, while Binh Duong Industrial Park, Frasers Property’s first industrial development in Vietnam is also on track to receive LEED certification.