Frasers Property forms partnership with Gelex Group for expansion of industrial footprint across North Vietnam
Frasers Property Vietnam (FPV) has entered a partnership with Vietnam-based multi-sector investment holding company Gelex Group to grow its industrial portfolio and build its presence across North Vietnam, with a total combined investment of approximately $250 million.
With this agreement, FPV will initially add 80 hectares (198 acres) of prime, strategically located industrial land to its landbank that will be developed eventually into more than 500,000 square meters (5.4 million square feet) of international-grade ready-built factories, warehouses and build-to-suit facilities. This is in response to meeting significant international interest for more industrial space within the region as well as growing demand for high-quality, premium industrial estates. Active in eight markets across Asia, Australia and Europe, industrial/logistics is the Frasers Property Group’s largest asset class by property assets.
“We are confident that our quality industrial spaces develo