Core5 Vietnam celebrates the groundbreaking of its first industrial project in Hai Phong

On August 19th, 2022, Indochina Kajima, a joint venture between Indochina Capital and Kajima Corporation (Japan), held the groundbreaking ceremony for their Core5 Hai Phong project in Deep C 2 Hai Phong Industrial Zone, Hai Phong, Vietnam. At completion, the project will deliver a total of approximately 96,000m2 world-class ready built factory and warehouse for lease. Handover of the first factories and warehouses is expected in early Q2 2023.

Commenting on the high potential of the industrial real estate market in Hai Phong, Mr. 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 Hanoi via the Hai Phong Highway, in the process attracting the presence of many large scale manufacturers, among them LG and Pegatron. In addition, the economic growth of the province is very attractive as GDP in H1 2022 increased by 11.1% YoY while foreign direct investment reached nearly USD1.1 billion. We believe Hai Phong is an excellent location for investment and ideal for the launch of Core5 Vietnam’s first project”.

Speaking at the event, Mr. Peter Ryder, CEO of Indochina Capital, said “Our belief in the Hai Phong market is supported by our investment into the hospitality sector with Wink Hotel at 135 Dien Bien Phu, Hai Phong and now in the industrial sector with Core5 Hai Phong. 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 Vietnam. This combined with the supply chain shift from China to Vietnam bodes well for the manufacturing sector in northern Vietnam in general, and Hai Phong in particular. 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.”

Core5 Hai Phong project provides ready-built factories and warehouses for lease with terraced design and various unit sizes, ranging from 3,174 m2 up to 25,509 m2. To maintain a commitment to sustainable development, the project design has been implemented to optimize energy and water system efficiency, including the use of solar panels. Each unit will be equipped with factory area, truck loading zones, modular office and parking. The common areas will provide ample circulation, green areas, and service areas to ensure tenants can maximize productivity. In addition, to ensure the efficient and smooth set up establishment of clients, Core5 Vietnam provides its clients with turn-key support including fitting-out, accounting, operations and business development.

Core5 Vietnam is committed to develop a nationwide portfolio of world class industrial facilities. Core5 Hai Phong’s first factories and warehouses will be available to clients by early Q2 2023. Our next steps will be the groundbreaking of projects in Hung Yen and Quang Ninh will occur in Q1 2023 and Q2 2023 respectively – both of these projects will add approximate 127,000 m2 net leasable area of ready built factory and warehouse to the market. Multiple additional projects will commence in later 2023 and further on.