Northern Vietnam province sees new industrial real estate projects come online

Singapore-headquartered Frasers Property broke ground on its $26.4 million warehouse and workshop project named Titan in Quang Ninh province last Friday.

The 8.3 hectare project marks Frasers Property’s second development at the Dong Mai Industrial Park in the northern province.

Designed to international standards, it offers modern, ready-built industrial infrastructure catering to a range of sectors, from electronics and high-tech manufacturing to supporting industries, while committing to sustainable development and strict environmental compliance.

Earlier, Frasers Property’s first project in Quang Ninh was completed and became operational in November 2024, with all floor space quickly leased to secondary tenants.

Building on that success, the Titan project - twice the size – had secured leases for around 60% of its warehouse space by the time construction began.

On the same day, the Dong Mai Industrial Cluster, developed by Tan Dai Duong Import-Export International JSC, was inaugurated in Dong Mai ward.

Spanning 16 hectares with a total investment of VND281 billion ($10.65 million), the project was completed in just nine months from groundbreaking. Its strategic location - adjacent to major transport routes and less than 10 minutes from Ben Rung Bridge to neighboring Hai Phong city - offers a distinct advantage for manufacturers in food and beverage, footwear, wood, and metal processing.

The inauguration of the Dong Mai Industrial Cluster has brought the total number of fully serviced industrial clusters in the province to seven, covering more than 373 hectares.

Last Wednesday, the first phase of Vina CoreMax Vietnam Plant by Taiwan-headquartered CoreMax Group was inaugurated at the Nam Tien Phong Industrial Park in Lien Hoa ward.

With a total investment of $65.3 million, the eight-hectare plant focuses on producing nickel sulfate and cobalt sulfate crystals, essential raw materials for the lithium-ion battery industry.

Once fully operational, it is expected to reach an annual output of nearly 49,280 tons, with production planned in two phases: phase one in September 2025 and phase two in January 2027, according to Quang Ninh’s newspaper.

CoreMax Group, founded in 1992, selected Vietnam as its next destination for global expansion in 2023 with the Vina CoreMax Vietnam project, which received investment registration certificate from the Quang Ninh Economic Zone Authority on October 20, 2023.