Mitsubishi Estate’s logistics brand to make overseas debut with $90 mln project in Vietnam
Mitsubishi Estate, under Japanese conglomerate Mitsubishi, is set to invest JPY13.5 billion ($89.5 million) in two large-scale logistics facilities under its logistics facility brand Logicross.
In a release last week, Mitsubishi Estate said the two facilities are Logicross Nam Thuan covering 11.5 hectares in the Mekong Delta province of Long An and Logicross Hai Phong covering 15.1 hectares in the northern coastal city of Hai Phong.
Logicross holds a groundbreaking ceremony in Long An province, southern Vietnam, October 18, 2024. Photo courtesy of Logicross.
Construction of Logicross Nam Thuan began in October 2024 and is expected to be completed in June 2025, while Logicross Hai Phong is set to begin construction in November 2024 and complete in August 2025.
The two projects will utilize eco-friendly designs to meet green certification requirements, the Japanese firm highlighted.
Vietnam is experiencing robust economic growth and industrialization, leading to a significant increase in demand for logistics and distribution. As a result, there is a growing need for high-function logistics facilities, the firm elaborated.
The investment aims to respond to Vietnam's growing logistic needs. This is Mitsubishi Estate’s first logistics facility development in Vietnam, as well as the first overseas Logicross development, Mitsubishi Estate said.
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