Construction begins on new ready-built factory at Amata City Halong

Construction begins on new ready-built factory at Amata City Halong

Amata City Halong JSC, part of Thailand’s industrial park developer Amata Corporation, signed a Land Use Right Sublease Agreement with CapitaLand SEA Logistics Fund (CSLF) on May 28, marking the launch of Avatar Vietnam – the first ready-built factory development within Song Khoai Industrial Park (Amata City Halong).

Song Khoai Industrial Park (Amata City, Halong)

In light of the agreement, CSLF will invest $23.3 million to develop the 6.4-hectare Avatar Vietnam site, which will feature three zones, eight factories and supporting facilities.

The first zone is projected to be cleared and ready for construction to start by the end of 2025, with operations slated to commence by January 2027.

This development is designed to meet burgeoning demand for ready-to-move-in factories, warehouses, office spaces, and other supporting facilities for production, enabling companies to save time and quickly commence operations.

Avata Vietnam received the investment registration certificate at Quang Ninh Economic Zone Management Authority Office on March 21

CSLF is managed by CapitaLand Investment (CLI), a top global real asset manager headquartered and listed in Singapore, with a strong Asian foothold.

As of March 31, CLI had $91 billion in funds under management held via stakes in seven listed real estate investment trusts and business trusts and a suite of private real asset vehicles that invest in demographics, disruption and digitalisation-themed strategies.

Its diversified portfolio spans 270 cities across 45 countries, with a long-standing presence and extensive real estate experience in Southeast Asia, one of CLI’s core markets.

The land use right sublease agreement signing ceremony at the Amata City Halong office on January 21

Despite global economic uncertainties, CLSF’s investment in Amata City Halong underscores confidence in Quang Ninh’s investment climate and Vietnam’s growth potential.

The Avatar Vietnam project represents a new milestone for Amata City Halong in attracting high-quality foreign direct investments into Quang Ninh province.

Established in 2018 with a total area of 714 hectares, Amata City Halong is considered one of the key industrial zones in the northeastern province of Quang Ninh.

To date, Amata City Halong has attracted 21 foreign-led projects worth close to $3 billion. These projects will play a crucial role in boosting the province’s economic growth and creating thousands of local job opportunities.

VIR