SPG Industrial, the industrial arm of SPG Invest just took its first step to the Vietnamese market’s industrial and logistic property industry by signing a strategic partnership with SEA Logistic Partners (SLP), an industrial and logistic facility development and operation platform backed by GLP, the global market leader in logistics real estate.
The first development of the partnership is SLP Bac Ninh, strategically located in North Vietnam, a 16-hectare land plot in the greater Hanoi’s Bac Ninh province, 30 kilometers from Hanoi’s center that will be transformed to a modern logistics asset.
According to Wilson Luo, CEO of SPG Industrial, said “Our step into Vietnam is an important milestone in its regional growth in response to strong investor demand for logistic and industrial real estate investment worldwide. We are pleased to be partnering with SLP, the leading global provider of modern logistics facilities and technology-led solutions”.
Luo further added that leveraging on its critical abilities in urban planning and industrial development, SPG Industrial is in a good position to tap into the growth opportunities with the aim of taking the construction of industrial parks, urban developments, and the entire infrastructural value chain of providing innovative services, integrating resources and the formation of industrial clusters to a whole new level.
SPG Industrial’s plan is to expand its foot-print in Vietnam by acquiring and developing 2,000 – 2,500 ha of modern industrial parks, mainly in Greater Hanoi and Greater Ho Chi Minh City, which will offer up to 17.5 million square meters of net leasable area upon completion.