BW Industrial Development JSC announces significant acquisition in DEEP C Industrial Zones in Quang Ninh Province
This acquisition marks BW’s first footprint in Quang Ninh province and its third collaboration with DEEP C Industrial Zones, expanding its presence across key industrial markets in the northern part of Viet Nam.
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Approximately 74,000 square metres of prime landbank in the Bac Tien Phong Industrial Zone in Quang Ninh, developed by DEEP C Industrial Zones (“DEEP C”) has been recently acquired by BW Industrial Development Joint Stock Company (“BW”), Viet Nam’s leading industrial and new economy real estate developer co-founded by Warburg Pincus and Becamex IDC.
The ready-built factory asset is located in the Bac Tien Phong Industrial Zone, Quang Yen Coastal Economic Zone in the dynamic Quang Ninh market, an emerging economic powerhouse and a key destination for investments in the north.
Situated along the Hai Phong-Ha Long-China border expressway, the site is a short 15-minute drive to the Hai Phong Seaport Clusters and 4-hour trucking to the Mong Cai International Border Gate. Given its prime location, extensive expressway networks, and excellent connectivity to densely populated centres, major manufacturing clusters, ports and airports, the project will be most ideally suited to export manufacturers and tenants seeking alternative port-based locations. The project is scheduled for completion in the second quarter of 2023.
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| The project's square is approximately 74.000 m2 in Bac Tien Phong Industrial Zone, Quang Ninh Province. |
Through the execution of a clear and consistent growth strategy since its establishment, BW is the largest for-rent industrial platform in Viet Nam with over 7.76 million square metres of prime industrial land under control across more than 35 projects in 26 strategic economic locations throughout Viet Nam. The latest transaction will add a total gross floor area (GFA) of around 47,000 square metres to its portfolio, expanding its current GFA to 2.2 million square metres of properties completed or under construction.
“We are currently witnessing a once-in-a-generation, tech-driven change in real estate. BW continues to be a pioneer in the market, accelerating our growth trajectory on the back of greenfield developments, acquisitions, and joint ventures. We believe the firm is well-positioned to answer the demand as new economic real estate continues to grow,” Lance added.
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| The ready-built factory asset is located in the Bac Tien Phong Industrial Zone, Quang Yen Coastal Economic Zone in the dynamic Quang Ninh market. |
Mr Koen Soenens, General Sales and Marketing Director of DEEP C Industrial Zones, remarked: “The Bac Tien Phong Industrial Zone features an all-in-one model that integrates a dedicated (petro) chemical park and a built-in seaport complex with general cargo terminals and liquids jetties. The goal is to develop an industrial zone that fits an array of industries while leveraging tenants’ logistics advantages on top of the existing excellent connectivity".
| About BW Founded by Warburg Pincus, a leading global private equity firm, and Becamex IDC, a leading industrial infrastructure developer in Viet Nam - BW is Viet Nam’s largest and fastest-growing logistics and industrial real estate developer with over 7.76 million square metres of prime industrial land under control across more than 35 projects in 26 strategic economic locations across the country. BW has been focused on developing light industrial and modern warehouses to capture the outsized manufacturing growth, increasing domestic consumption, and rapid growth in e-commerce. BW has secured equity commitments in excess of USD 800 million from shareholders and has formed strategic partnerships with ‘Queen Bee’ FDI, e-commerce, and logistics players to serve one of the fastest-growing markets in Asia. |
| About DEEP C Industrial Zones (“DEEP C”) DEEP C is a cluster of industrial zones developed and operated by Infra Asia Investment Hong Kong, majorly owned by Belgian company Ackermans & van Haaren in Hai Phong city and Quang Ninh province, the fastest-growing region in Viet Nam. Bac Tien Phong Industrial Zone is jointly developed by DEEP C and Hateco Group – a Vietnamese conglomerate in real estate, logistics, seaports and more. Together, Bac Tien Phong and Nam Tien Phong Industrial Zone form DEEP C Quang Ninh industrial cluster located in Quang Yen Coastal Economic Zone, Quang Ninh province, aiming to become a seamless industrial zone ecosystem connected to seaports. DEEP C has on offer a variety of options for investment consideration, including industrial land for lease, ready-built factory, logistics warehouse, built-to-suit solutions, offices for lease. |
(Source: VNA)
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