Global sustainable infrastructure manager Actis has sold its 49% interest in the An Phat 1 Industrial Park in Vietnam to its operating partner, An Phat Holdings (APH).

The 180-hectare An Phat 1 industrial park, is one of the two industrial parks owned by An Phat Holdings in the Hai Duong province.

In 2021, Actis invested an initial $20m (€18m) as part of an industrial real estate joint venture with Vietnamese developer An Phat Holdings.

At the time, Actis said the initial investment had been placed into a partnership with An Phat Complex, a business division of An Phat Holdings, to develop An Phat 1 Industrial Park. Actis and An Phat Holdings also agreed to form a partnership to develop a ready-build factory and warehouse for lease worth $250m.

Brian Chinappi, partner and head of real estate at Actis, said: “This exit marks a milestone for Actis as it is our first exit in the real estate sector in Vietnam. Vietnam is a strategic market for us as it offers great opportunities for cost-effective manufacturing and supply-chain diversification. 

”Our investment in An Phat 1 industrial park is consistent with our strategy to invest in new economy real estate, which sits right at the convergence of the four key global themes and three secular demand trends we identified.”

Duong Pham, chairman of An Phat Holdings, said: “The partnership with Actis has resulted in greater success than anticipated in the An Phat 1 project. This collaboration has helped to enhance the reputation of An Phat Holdings in the industrial park real estate industry and has also improved the company’s management capabilities in this segment.

”We are actively seeking out opportunities to collaborate with Actis and other foreign partners to undertake larger industrial park real estate projects in the near future.”

To read the latest IPE Real Assets magazine click here.

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