Factory builder Long Hau begins new work for lease in Danang

Long Hau Corporation, a major developer of factory infrastructure in Vietnam, has begun phase 1 construction of a high-tech complex for lease at the Danang Hi-Tech Park.

The first phase of the three-phase, VND1,050 billion ($44.86 million) project would be completed in November.

Long Hau, listed on the Ho Chi Minh City Stock Exchange as LHG (HoSE:LHG), has received 11.69 hectares out of the total 29.6 hectares of land.

The firm already completed two facilities that it has leased to two Japanese firms - Hatsuta labor safety solutions company and Inaba Rubber Vietnam.

Danang is increasingly attractive to investors in industrial real estate and high-tech park development.

FPT, Vietnam's leading IT corporation, plans to invest VND6,000 billion ($258 million) in Danang in the years 2022-2025. FPT City Danang JSC, an FPT subsidiary, in late May held a groundbreaking ceremony for a series of projects totaling VND2,600 billion ($112 million) in the FPT Danang technology, education and urban complex named FPT City in Ngu Hanh Son district.

Japan's Mitsubishi Corporation is seeking investment opportunities in industrial real estate, retail, manufacturing, warehousing and logistics facilities for lease in the city, an economic and tourism hub in central Vietnam.

So far this year, Danang's High-Tech Park, Information Technology Cluster, and industrial parks have attracted 15 investment projects. These include three foreign-invested ones worth $65 million.