Indochina Kajima, a joint venture between Indochina Capital and Kajima Corporation (Japan), on Friday started construction of its first Core5 Hai Phong project in Deep C 2 Hai Phong Industrial Zone.
The project is expected to deliver approximately 96,000sq.m of world-class ready-built factories and warehouses for lease as it comes into operation in the early second quarter of 2023.
Speaking at the ground-breaking ceremony, Keisuke Koshijima, Representative Director and Executive Vice President of Kajima Corporation, said: “Hai Phong has made enormous infrastructure investment, becoming a key link in the global logistics chain with Cat Bi International Airport, Lach Huyen International Deepwater Port and direct accessibility to Ha Noi via the Hai Phong Highway, in the process of attracting the presence of many large scale manufacturers, among them LG and Pegatron.”
“In addition, the city’s economic growth is very attractive as GDP in the first half of the year increased by 11.1 per cent year-on-year while foreign direct investment reached nearly US$1.1 billion. We believe Hai Phong is an excellent location for investment and ideal for the launch of the Core5 Vietnam’s first project.”
Peter Ryder, CEO of Indochina Capital, said: “We believe in the current and long-term potential of this market, given the excellent economic fundamentals and the attractiveness of this location for export processing enterprises, and its strategic location to several key ports within northern Viet Nam.”
“This, combined with the supply chain shift from China to Viet Nam, bodes well for the manufacturing sector in northern Viet Nam and Hai Phong. Core5 Vietnam looks forward to welcoming our first partners to this spectacular industrial facility, which will be developed with a commitment to quality, innovation, sustainability and excellence in operations and service.”
The Core5 Hai Phong project provides ready-built factories and warehouses for lease with terraced designs and various unit sizes, ranging from 3,174sq.m to 25,509sq.m.
To maintain a commitment to sustainable development, the project design has been implemented to optimise energy and water system efficiency, including solar panels.
Core5 Vietnam is committed to developing a nationwide portfolio of world-class industrial facilities. The investor plans to have other Core5 projects in Hung Yen and Quang Ninh in Q1 2023 and Q2 2023, respectively.
Both of these projects will add 127,000sq.m of leasable area of ready-built factories and warehouses to the market. Multiple additional projects will commence in late 2023 and beyond. — VNS