SAM launches Vietnam’s largest data centre campus at VSIP

SAM launches Vietnam’s largest data centre campus at VSIP

Saigon Asset Management (SAM) announced the launch of SAM DigitalHub on March 4, a 50-hectare, 150-MW data centre campus with targeted investment of up to $1.5 billion.

Recognising the increasing demand for a robust data centre presence in Vietnam, SAM has collaborated with key stakeholders to address critical challenges faced by international operators entering the market.

Over the past two years, SAM has worked alongside industry leaders to identify and overcome primary barriers to investment, including properly zoned land within an hour of major urban centres; reliable access to sustainable power sources and sufficient water for cooling; proximity to domestic and international airports; and connectivity to multiple telecommunications providers and reliable fibre networks.

These considerations have culminated in the formation of SAM DigitalHub, a groundbreaking initiative designed to provide world-class data centre solutions in Vietnam.

A key component of SAM DigitalHub’s success is its collaboration with Vietnam Singapore Industrial Park (VSIP), a flagship government-to-government platform combining the strengths of Sembcorp, a leading energy and urban solutions provider, and Becamex, Vietnam’s foremost industrial and urban real estate developer.

Nguyen Phu Thinh, CEO of VSIP, emphasised the significance of this partnership, “VSIP is excited to partner with a leading investment firm like SAM to jointly develop Vietnam’s first-of-its-kind data centre campus.”

SAM’s strategy involved securing a 50-hectare site capable of rapid scaling to meet the surging demand from international operators and hyperscalers. Many potential locations have faced challenges such as non-compliant land zoning, inadequate infrastructure, limited lease tenure, and insufficient power capacity. The SAM-VSIP partnership mitigates these challenges.

Additionally, SAM DigitalHub is committed to integrating renewable energy solutions, ensuring a net zero pathway for its clients, and targeting an initial renewable energy capacity of 50MW.

Louis Nguyen, CEO of SAM, highlighted the project’s significance, saying, “The three key obstacles that have deterred our hyperscaler clients from entering Vietnam have been licensing, land, and power. By partnering with VSIP, we have successfully addressed these challenges, paving the way for the launch of our SAM Digital Hub."

"PMX, a SAM DigitalHub stakeholder, has successfully delivered or played key roles in delivering three projects totalling nearly a 125MW IT load in the past two years in Malaysia. Building on this track record, PMX is currently engaged in the delivery of two additional hyperscale projects exceeding a 100MW IT load, further reinforcing their experience, operational know-how, and customer engagement capabilities with both American and Chinese hyperscaler end-users. These strengths provide the foundation needed to ensure SAM DigitalHub becomes a premier, high-performance data centre destination for both local and international clients.”

Colin Phua, managing director of PMX, acknowledged SAM’s capabilities, saying, “SAM has a long history and a successful track record in investment performance in Vietnam, and we are pleased to partner on this venture. The SAM team has assembled the ideal trifecta of investor, landowner, and data centre developer to make this major accomplishment, SAM DigitalHub, a reality.”

To accelerate investment in Vietnam’s data centre sector, SAM has launched the $300 million Vietnam Data Centre Fund (VDCF), with the first closing expected by Q4. This initiative aims to support the financial success of SAM’s digital infrastructure projects and attract a diverse range of international investors.

Reflecting on the evolving market dynamics, Nguyen added, “We saw significant trends in the region where data centre demand was shifting from Singapore to other countries. Our goal was to collaborate with as many end customers and partners as possible to address their concerns and provide a seamless entry point. SAM DigitalHub is the culmination of that effort.”

The development of SAM DigitalHub positions Vietnam as a key player in the Southeast Asian digital economy, providing cutting-edge infrastructure and sustainable solutions to meet the surging demand for data centre services.

VIR