Vietlog Industrial (VLI), an affiliate of Hong Kong-based investment management company Skymont Capital, early this week broke ground for its VLI Warehouse Hung Yen project.
Located on a 4.17ha land plot in Hung Yen province’s Minh Quang Industrial Park in My Hao district along National Highway No.5A, the project is 41 km from downtown Hanoi and 88 km from the Hai Phong port.
This will facilitate import and export of goods, as well as access to other manufacturing centers in the northern region.
Once operational in the first quarter of 2023, VLI Warehouse Hung Yen will be a 29,000 square meter Grade A warehouse with modern standards.
Speaking at the project’s ground-breaking ceremony, Alex Lin, co-founder of Skymont Capital, said that the warehouse marked a new milestone in Vietnam’s industrial warehouse market, representing his company’s commitment to its investors, partners, customers as well as local authorities in developing world-class industrial warehouses in Vietnam.
Quang Tran, VLI Hung Yen representative in charge of project development, said with international construction standards, Vietlog Industrial would meet increasingly strong demand for high-quality warehouse, especially in logistics and e-commerce.
The company has officially appointed real estate services company CBRE Vietnam as exclusive marketing and leasing consultant for the project.
Vietlog Industrial is an integrated property development and operating platform dedicated to building the most comprehensive network of high-spec logistics facilities in Vietnam. The leadership team has decades of institutional real estate investment management experience and an expansive network in the Asia-Pacific logistics sector.
Leveraging its strong in-house development expertise and solid long-term partnership with top-tier manufacturers and retailers, VLI aims to become Vietnam’s leading modern warehouse infrastructure developer and operator, Alex Lin said.
In May, Hong Kong-backed JD Future Explore V Limited embarked on developing a $32 million warehouse at the Non-Tariff Zone and Nam Dinh Vu Industrial Park in Hai Phong, northern Vietnam’s biggest port city.
Covering around 97,000 square meters of land, with rental areas ranging from 5,000 to 55,000 sqm, the JD Property Logistics Park Hai Phong 1 project is set to be completed in the second quarter of 2023.
SEA Logistic Partners (SLP), an industrial and logistics facility developer backed by warehouse giant GLP, in June commenced construction of a nine-hectare warehouse, its second in Bac Ninh province, an emerging manufacturing hub in northern Vietnam.
SLP Park Nam Son Hap Linh, the new facility, lies in Nam Son Hap Linh Industrial Park, with a total leasable area of more than 90,000 square meters. It would be completed in the second quarter of 2023, featuring modern-standard, Grade A warehouses.
JLL Vietnam told a press meeting last December that e-commerce was serving as a driving force for logistics real estate demand in Vietnam. The realty service firm predicted warehouse demand in the nation would grow three times faster than the rate of e-commerce growth, resulting in an increased need for efficient large-scale warehousing solutions like the Alibaba-backed Cainiao PAT Logistics Park in Long An province.