Ascendas and its joint venture partner, Saigon Bund Capital Partners, yesterday (1 October) celebrated the groundbreaking of OneHub Saigon, a 12-ha integrated business park development located at Saigon Hi-Tech Park in Ho Chi Minh City, Vietnam.
OneHub Saigon, held by Ascendas and Saigon Bund Capital Partners through a 60:40 joint venture, will be developed in three phases, with an estimated total development cost of approximately US$130 million. This development sets a new benchmark for business parks in Vietnam, comprising quality business park spaces ideal for companies in the Hi-Tech & supporting industries, IT, IT enabled-Services (ITeS) including Business Process Outsourcing (BPO), back-room office, software development, media, and R&D industries as well as e-commerce and logistics businesses, Work-Office-Home-office (WOHO) and training/education facilities, supported by lifestyle amenities. The development is expected to generate more than 8,000 jobs.
The recent groundbreaking kicks off the construction of the US$80 million Phase 1 of the integrated development project, which will include more than 12,000 sq m of business park spaces, supported by lifestyle amenities that include a mixed-use commercial development with retail components to meet existing demand in the vicinity. Phase 1 is expected to be completed by 2018.
“The groundbreaking of OneHub Saigon marks another major milestone for Ascendas. This project deepens our presence in Vietnam and allows us to build a vibrant, integrated business community that will facilitate the growth of enterprises and industries in Vietnam. OneHub Saigon will also further strengthen our position as a preferred partner for local and foreign companies seeking expansion in Vietnam and Southeast Asia,” said Manohar Khiatani, president and group CEO of Ascendas,
“We are excited to see OneHub Saigon beginning to shape up as one of the most unique offerings within Saigon Hi-Tech Park. Leveraging Ascendas’ strong expertise in the development and management of business space in Asia, we believe that OneHub Saigon will be well-placed to serve the needs of Vietnam’s thriving industries and business communities,” said Vo Sy Nhan, chairman of Ascendas Saigon Bund Co Ltd.
OneHub Saigon will be another flagship project by Ascendas, a member of the Ascendas-Singbridge Group. Ascendas-Singbridge was formed through the merger of Ascendas and Singbridge in June this year, combining the capabilities of two leading brands to originate, aggregate and provide urban and business space solutions across multiple industries and geographies.
OneHub Saigon provides a seamless and vibrant work-live-play-learn environment for its tenants and the surrounding community. With its completion, OneHub Saigon will be a key addition to the Saigon Hi-Tech Park. Spanning over 900 ha, Saigon Hi-Tech Park is one of the most successful hi-tech parks in Vietnam and counts as one of Ho Chi Minh City’s five focal economic projects to drive the city’s development till 2025. As of August 2015, the park has attracted capital investments from almost 100 multinational companies, exceeding US$4.7 billion.
