As a leading business space solutions provider in Asia, Ascendas has more than 30 years of experience developing and managing premium business and high-tech spaces for a global clientele of over 1,800 customers. Riding on the growth potential of Vietnam, Ascendas decided to expand its presence there with the development of the Ascendas-Protrade Singapore Tech Park (APSTP), a joint venture development with Protrade, a major state-owned Corporation in Binh Duong province, Vietnam; and the OneHub Saigon, an integrated business park development at the Saigon Hi-Tech Park in Ho Chi Minh City, under a joint venture with Saigon Bund Capital Partners. The two projects signal Ascendas’ commitment to the development of the Vietnamese economy.
APSTP, a new-generation industrial park in Vietnam
With its track record in developing quality business infrastructure in Asia, Ascendas is well known for its role in big projects such as the Singapore Science Park in Singapore; International Tech Park in Bangalore India; and Dalian Ascendas IT Park in China.
When Ascendas first entered the Vietnam market, it forecast strong growth for Binh Duong province, and that it would become the gateway to attract more FDI in Vietnam. Ascendas therefore saw this as an opportunity to enter into a joint venture with Protrade, to contribute to the development of Binh Duong, and Vietnam as a country in general. "APSTP is a prime example of a new generation of industrial parks in Vietnam. It espouses new standards in quality of business premises, contributes to building infrastructure of Vietnam, helps draw FDI and positions Binh Duong as an attractive investment destination in Vietnam," said Mr Han Ann Foong, Country Head of Ascendas Vietnam.
500 hectare APSTP is located in Ben Cat district, Binh Duong province, north of Ho Chi Minh City, and will become a key feature of the 1,350 hectare An Tay Industry and Service Complex. APSTP provides excellent infrastructure and extensive amenities for companies seeking a safe and conducive business environment. Besides offering a flexible choice of industrial spaces from prepared land parcels, ready-built facilities to customised solutions, APSTP also provides integrated customer service solutions to tenants, thereby enabling them to focus on their core business with peace of mind.
Aside from the outstanding quality of space, enterprises housed within APSTP will also get to enjoy a slew of social amenities: dormitories, convenience stores, banks and entertainment establishments. The park integrates nature with landscape where trees are pruned meticulously, offering an open work-live-play space for all. Another plus point of the APSTP is its environmentally-friendly design, international green building standards and features that assist to conserve energy, reduce carbon emissions and other operating costs.
As an ideal business location for enterprises in the fields of electronics, mechanics, information technology, pharmaceutical products, foods, beverages etc., APSTP provides a business environment which meets the standards of individual customers, creating conditions for them to build harmonious relationships with partners. The park also offers ready-made facilities and plots of land to build and customise according to customer requirements. Enterprises enjoy high standards of facilities, infrastructure and reliable management services such as electrical supply, water supply, sewage treatment, and telecommunications; helping enterprises utilise cost effectively and manage business activities smoothly. At the same time, enterprises will also get full access to integrated customer support, including a comprehensive suite of solutions ranging from business matching and other necessary documents licensing to manpower recruitment and training, as well as government support.
More importantly, APSTP promotes creativity in setting up innovation industrial clusters which would house companies by sectors or production, in order to encourage interaction within inter-related and supporting industries. This would in turn boost business productivity, competitive advantage, and profitability of each sector.
OneHub Saigon, the new benchmark for business parks
After Binh Duong, Ascendas searched for investment opportunities in Ho Chi Minh City – the economic centre of Vietnam – as part of plans to scale its business and expand its presence in the market. This was when it formed a joint venture with Saigon Bund Capital Partners to develop the OneHub Saigon, a 12-hectare integrated business park development located at the Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City. The project is expected to promote the development of the Vietnamese electricity industry.
Leveraging Ascendas's extensive development experience and Saigon Bund Capital Partners’s extensive network in Vietnam, OneHub Saigon will be developed in three phases, with an estimated total development cost of approximately US$130 million (S$163 million). This development will set a new benchmark for business parks in Vietnam, comprising quality business park spaces for companies in the Hi-Tech & supporting industries, information technology, IT enabled service (ITeS), Work-Office-Home-office (WOHO), training/education facilities, etc. The US$80 million Phase 1 of the project will include more than 12,000 square metres of business park spaces, supported by a mixed-use commercial development with retail components to meet current needs in the area. Phase 1 is expected to be completed in 2018.
"The projects OneHub Saigon and APSTP will help deepen Ascendas’ presence in Vietnam. They will also contribute to improving business expertise of integrated industrial zones, that will promote industry and economic growth in Vietnam according to the value chain model,” Mr Han said.
Nguyen Viet Hung
Vietnamese
