Mega facility hits the market
Mega facility hits the market
Global real estate services firm Cushman & Wakefield is seeking buyers for the 113,000 square metre manufacturing facility located in Ho Chi Minh City’s Dong Nam Industrial Park.
It was appointed as exclusive agents to sell this facility assigned by its developer, the First Solar - a company originally built the plant to produce photovoltaic solar panels, but has since declared the site surplus to requirements.
The facility was completed in April of this year, built by internationally renowned design and build contractors, M+W Group from Germany.
“This facility is brand new and been constructed to international standards by a global engineering and construction firm. It is suitable for a variety of industrial production or logistics uses and offers a unique ‘ready to operate’ opportunity, because of this we are already witnessing strong interest from overseas manufacturers and investors,” said Chris Brown, general manager of Cushman & Wakefield Vietnam.
The facility itself consists of 107,000sqm of industrial space divided into two production areas and a large logistics area whilst there is an external office building of approximately 6,000sqm. It is set on a 23 hectare plot with a further 21ha set aside for expansion and has ample water and electricity supply for high production manufacturing uses.
Cushman & Wakefield anticipates increased direct foreign investment to Vietnam in the manufacturing sector from other regional countries such Japan, Korea, Singapore and China will make this an attractive prospect to base their operations.
“We are confident that given the strong interest in Vietnam from manufacturers in the region and beyond, we will be able to secure a buyer sooner rather than later. In the past we have witnessed corporate occupier clients who have explored the possibility of opening operations in Vietnam at relatively short notice – but one of the barriers to entry has been ready available industrial property. We expect this will now meet the demands of the market,” Brown said.
Dong Nam Industrial Park occupies a strategic position near Ho Chi Minh City and Binh Duong province, the nation’s top regional recipient of foreign direct investment and location of many high profile industrial operations.
The owners of the 342ha park, Saigon VRG Investment Holdings Corporation - a member of Vietnam Rubber Group, will give priority to clean and efficient hi-tech operations in sectors such as mechanical engineering, information technology, chemical processing, construction materials, furniture manufacturing, and sports equipment manufacturing.
vir
