Actis is investing $ 20 million (€ 17 million) in an industrial real estate joint venture with Vietnamese developer An Phat Holdings.
The Global Investment Firm for Emerging Markets said the initial investment was in a partnership with An Phat Complex, a business arm of An Phat Holdings, to develop An Phat 1 Industrial Park.
Actis and An Phat Holdings have also agreed to a partnership to build a finished plant and warehouse for lease at a cost of $ 250 million.
An Phat 1 Industrial Park, with an area of 180 hectares, is one of two industrial parks owned by An Phat Holdings in Hai Duong Province. After the commissioning of the An Phat 1 industrial park, it is planned to attract 50-70 production enterprises and warehouses.
Dinh Xuan Cuong, Vice Chairman, CEO of An Phat Holdings, said: “The Phat 1 Industrial Park project marks the beginning of a long-term and strategic partnership between An Phat Holdings and Actis.
“As part of the partnership, Actis will not only provide seed capital, but also provide resources for new projects and maximizing the potential of the industrial property segment in the area.
“Sharing the same goal of developing green industrial parks, An Phat Holdings and Actis will collaborate to develop industrial zones, as well as turnkey factories and warehouses for lease, to build leading logistics centers in Hai Duong in the north of the country. Vietnam.”
Brian Chinappi, Head of Asia Real Estate at Actis, said: “The industrial and logistics sector is in line with our strategy of investing in sustainable infrastructure in emerging markets in Asia and around the world. We see compelling opportunities to implement our core strategy in this sector, underpinned by what we at Actis call 4D: demographic shifts, digital instability, supply and income shortages.
“Vietnam’s industrial and logistics real estate market is poised for overgrowth given the robust relocation of manufacturing bases from markets such as China, strong growth in domestic exports and imports, and the accelerating transition to retail through e-commerce.”
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