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

HAI PHONG, Vietnam, Aug. 22, 2022 /PRNewswire/ -- 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 warehouse is expected in early Q2 2023.

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 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 GRDP 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 Hai Phong market is supported by our investment into the hospitality sector with Wink Hotel, 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 warehouse for lease with terraced design and various unit sizes, ranging from 3,174 m2 up to 25,509 m2. As committing 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 smooth client onboarding process, Core5 Vietnam provides 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 warehouse will be available to clients by early Q2 2023. Groundbreaking of projects in Hung Yen and Quang Ninh will occur in Q1 2023 and Q2 2023 respectively – both projects will add approximate 127,000 m2 net leasable area of ready-built factory and warehouse to the market.

About Indochina Kajima

In September 2016, Indochina Capital, a leader in Vietnam's rapidly growing real estate, financial services and capital markets, entered into a joint venture with Kajima Corporation, one of the largest Japanese general contractors and overseas real estate developers, to launch Indochina Kajima, a new real estate development platform in Vietnam. Indochina Kajima is fully committed to create innovative real estate developments that build value for our partners, clients and investors, while providing opportunities for our employees and enriching the communities. Indochina Kajima will establish a nationwide footprint with a focus on Hanoi, Danang and Ho Chi Minh City.

About Core5 Vietnam

Core5 Vietnam, owned by Indochina Kajima, is a Vietnam based industrial real estate investment and development platform focused on the nationwide roll out of world class factory and warehouse properties for lease throughout Vietnam's key manufacturing and logistics markets. Core5 Vietnam offers a range of solutions including ready-built factory for lease, ready-built warehouse for lease and build-to-suit industrial properties. The platform was officially launched in Vietnam in July 2022.