ESR Cayman Limited the largest APAC focused logistics real estate platform, and BW Industrial Development Joint Stock Company (“BW”), the leading logistics and industrial real estate developer and operator in Vietnam, have entered into a development joint venture to develop and own a significant modern industrial park near Ho Chi Minh City, Vietnam. The partnership marks ESR’s first entry into the Vietnamese market, expanding the group’s APAC footprint in the high growth Southeast Asia region.
The My Phuoc 4 Industrial Park (the “Park”), which will have a total of approximately 240,000 sqm of logistics and light industrial facilities upon completion, is located north of Ho Chi Minh City in the strategic Binh Duong market, a leading hub of industrial development in Southern Vietnam. The Park will have the ability to cater to a wide variety of local and international tenants, given its prime location with excellent motorway access and connectivity to densely populated areas, major industrial clusters, ports and airports. BW is currently developing the My Phuoc 4 Park with completion scheduled for August 2021. ESR will work with BW on the leasing of the My Phuoc 4 Park leveraging its strong roster of customers.
Source: RETALK ASIA