Ascendas, Saigon Bund Capital Partners Kick Off US$130 Mln Integrated Business Park Development

 

OneHub Saigon, held by Ascendas and Saigon Bund Capital Partners through a 60:40 joint venture, will be developed in three phases, with an estimated total development cost of approximately US$130 million (S$163 million). This development sets a new benchmark for business parks in Vietnam, comprising quality business park spaces ideal for companies in the Hi-Tech & supporting industries, IT, IT enabled-Services (ITeS) including Business Process Outsourcing (BPO), back-room office, software development, media, and R&D industries as well as e-commerce and logistics businesses, Work-Office-Home-office (WOHO) and training/education facilities, supported by lifestyle amenities. The development is expected to generate more than 8,000 jobs.

 

The groundbreaking kicks off the construction of the US$80 million Phase 1 of the integrated development project, which will include more than 12,000 square metres of business park spaces, supported by lifestyle amenities that include a mixed-use commercial development with retail components to meet existing demand in the vicinity. Phase 1 is expected to be completed by 2018.