Ho Chi Minh City, Vietnam, 1 October 2015 – Ascendas, Asia’s leading business space solutions provider, and its joint venture partner, Saigon Bund Capital Partners, today celebrated the groundbreaking of OneHub Saigon, a 12-hectare integrated business park development located at Saigon Hi-Tech Park in Ho Chi Minh City, Vietnam.
The milestone event was graced by Mr Le Hoai Quoc, President of Saigon Hi-Tech Park Management, and Ms Leow Siu Lin, Consul-General, Consulate-General of the Republic of Singapore in Ho Chi Minh City.
OneHub Saigon, held by Ascendas and Saigon Bund Capital Partners through a 60:40 joint venture, will be developed in three phases, with an estimated total development cost of approximately US$130 million (S$163 million). This development sets a new benchmark for business parks in Vietnam, comprising quality business park spaces ideal for companies in the Hi-Tech & supporting industries, IT, IT enabled-Services (ITeS) including Business Process Outsourcing (BPO), back-room office, software development, media, and R&D industries as well as e-commerce and logistics businesses, Work-Office-Home-office (WOHO) and training/education facilities, supported by lifestyle amenities. The development is expected to generate more than 8,000 jobs.
Today’s groundbreaking kicks off the construction of the US$80 million Phase 1 of the integrated development project, which will include more than 12,000 square meters of business park spaces, supported by lifestyle amenities that include a mixed-use commercial development with retail components to meet existing demand in the vicinity. Phase 1 is expected to be completed by 2018.
Mr Manohar Khiatani, President and Group Chief Executive Officer of Ascendas, said: “The groundbreaking of OneHub Saigon marks another major milestone for Ascendas. This project deepens our presence in Vietnam and allows us to build a vibrant, integrated business community that will facilitate the growth of enterprises and industries in Vietnam. OneHub Saigon will also further strengthen our position as a preferred partner for local and foreign companies seeking expansion in Vietnam and South-east Asia.”
Mr Vo Sy Nhan, Chairman of Ascendas Saigon Bund Co., Ltd, said: “We are excited to see OneHub Saigon beginning to shape up as one of the most unique offerings within Saigon Hi-Tech Park. Leveraging Ascendas’ strong expertise in the development and management of business space in Asia, we believe that OneHub Saigon will be well-placed to serve the needs of Vietnam’s thriving industries and business communities.”
OneHub Saigon will be another flagship project by Ascendas, a member of the Ascendas-Singbridge Group. Ascendas-Singbridge was formed through the merger of Ascendas and Singbridge in June this year, combining the capabilities of two leading brands to originate, aggregate and provide urban and business space solutions across multiple industries and geographies.
OneHub Saigon provides a seamless and vibrant work-live-play-learn environment for its tenants and the surrounding community. With its completion, OneHub Saigon will be a key addition to the Saigon Hi-Tech Park.
Located at the heart of District 9 and Thu Duc District, just 15 kilometres from the city centre, and spanning over 900 hectares, Saigon Hi-Tech Park is one of the most successful hi-tech parks in Vietnam and counts as one of Ho Chi Minh City’s five focal economic projects to drive the city’s development till 2025. As at August 2015, the park has attracted capital investments from almost 100 multinational companies, exceeding US$4.7 billion. Key tenants at Saigon Hi-Tech Park include global MNCs such as Samsung, Intel, Nidec, Sanofi Aventis, Air Liquide, Datalogic and leading Vietnamese companies such as FPT, Hutech and Nanogen.
A member of Ascendas-Singbridge group, Ascendas is Asia’s leading provider of business space solutions with more than 30 years of experience and Assets under Management exceeding S$16 billion. Ascendas has a global clientele of over 2,400 customers in 25 cities across 10 countries including Singapore, China, India, Malaysia, South Korea and Vietnam.
Ascendas provides end-to-end real estate solutions, assisting companies across the entire real estate process. Ascendas specialises in masterplanning, developing, managing and marketing IT parks, industrial & logistics parks, business parks, science parks, office and retail spaces. Leveraging on its track record and experience, Ascendas has introduced new business space concepts such as integrated communities and solutions, which seamlessly combine high-quality business, lifestyle, retail and hospitality spaces to create conducive human-centric work-live-play-learn environments. Its flagship projects include the Singapore Science Park and Changi City at Changi Business Park in Singapore, International Tech Park Bangalore in India and Ascendas-Xinsu in Suzhou Industrial Park, China.
In November 2002, Ascendas launched Singapore’s first business space trust, Ascendas Real Estate Investment Trust (A-REIT), and in August 2007, Ascendas India Trust (a-iTrust) was listed as the first Indian property trust in Asia. In July 2012, Ascendas listed Ascendas Hospitality Trust (A-HTRUST), which comprises a portfolio of quality hotels in Australia, China, Japan and Singapore. Besides managing listed real estate funds, Ascendas also manages a series of private funds with commercial and industrial assets across Asia.
About Saigon Bund Capital Partners
Saigon Bund Capital Partners is an investment company with offices in Ho Chi Minh City, Vietnam and Hong Kong. It is a joint venture between NP Capital Partners and Gaw Capital Partners, a leading international private equity real estate firm with over US$3.5 billion of equity capital and close to US$9 billion in assets under management. Mr Vo Sy Nhan is the Managing Director of Saigon Bund Capital Partners. Mr Nhan is also a member of Board of Directors for some joint ventures with Keppel Land in Vietnam and also the Managing Principal of Gaw NP Capital. The founders and team members of Saigon Bund Capital Partners have extensive experience and knowledge within the property development and fund management industries in Vietnam, as well as in the region.