Ascendas and Saigon Bund Capital Partners on October 1 broke ground for construction of OneHub Saigon, a 12-ha integrated business park located in the Saigon Hi-Tech Park in HCM City. — VNS Photo Xuan Huong.

HCM CITY (Biz Hub) — Singapore-based Ascendas, Asia's leading business space solutions provider, and its partner, Saigon Bund Capital Partners, on October 1 broke ground on OneHub Saigon, a 12-hectare integrated business park located in the Saigon Hi-Tech Park in HCM City's District 9.

The US$130 million OneHub Saigon will be developed in three phases, with its phase expected to be completed by 2018.

Speaking at the ceremony, Manohar Khiatani, president and Group CEO of Ascendas, said: "OneHub Saigon will offer quality business spaces and support amenities to the hi-tech and supporting industries, IT and IT enabled-Services, including Business Processing Outsourcing (BPO), back-room office, software development, media, R&D industries, as well as e-commerce and logistics businesses."

It will also provide a "seamless and vibrant work-live-play-learn environment" for all its tenants and the surrounding community, generating more than 8,000 jobs, he said.

OneHub Saigon is one of the flagship projects in Ascendas' OneHub series.

"We have seen that vibrant integrated business parks like the kind we have in some other parts of the world do not exist here in Viet Nam, so we thought it was a very good opportunity for us to work with the Government and our local partner to develop such a business park here," Khiatani said.

Located 15 kilometres from HCM City's downtown, Saigon Hi-Tech Park is one of the city's most important projects expected to drive economic development until 2025.

As of August, the park had attracted total investment capital of over $4.7 billion from about 100 multinational companies, including Samsung, Intel, Nidec, Sanofi Aventis and Air Liquide as well as major Vietnamese technology companies such as FPT. — VNS