Teaming up for logistics in Vietnam
Two members of the same family, ESR, an APAC focused logistics real estate platform and BW Industrial Development Joint Stock Company (BW), a major logistics and industrial real estate developer and operator in Vietnam, have formed a joint venture to develop an industrial park near Ho Chi Minh City, Vietnam.
The partnership marks ESR’s first entry into the Vietnamese market. The My Phuoc 4 Industrial Park (the “Park”), which will have a total of approximately 240,000 sqm of logistics and light industrial facilities upon completion, is located north of Ho Chi Minh City in the strategic Binh Duong market, a hub of industrial development in southern Vietnam.
BW is currently developing the project with completion scheduled for August 2021. The transaction is subject to relevant regulatory approvals. (sh)