Actis is investing an initial $20m (€17m) as part of an industrial real estate joint venture with Vietnamese developer An Phat Holdings.
The global emerging markets investment firm said the initial investment has 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 have also agreed to form a partnership to develop a ready-build factory and warehouse for lease worth $250m.
An Phat 1 Industrial Park, a 180-hectare site, is one of the two industrial parks owned by An Phat Holdings in the Hai Duong province. Once fully operational, An Phat 1 Industrial Park aims to attract 50-70 manufacturing plants and warehouses.
Dinh Xuan Cuong - vice chairman, CEO of An Phat Holdings, said, “An Phat 1 Industrial Park project marks the beginning of a long-term and strategic partnership between An Phat Holdings and Actis.
“The partnership will not only see Actis providing the initial capital, but also provides resources to implement new projects and maximise the potential of the industrial real estate segment for the area.
“Sharing the same goal of developing environmentally friendly Industrial Parks, An Phat Holdings and Actis will cooperate to develop industrial zones as well as ready-built factories and warehouses for lease, with the aim of building the leading logistics centres in Hai Duong, in north Vietnam.”
Brian Chinappi, Head of Asia Real Estate at Actis, said: “The industrial and logistics sector is consistent with our strategy to invest in sustainable infrastructure in growth markets in Asia and globally. We see compelling opportunities to pursue our build-to-core strategy in this sector, reinforced by what we at Actis refer to as the 4Ds: demographic shifts, digital disruption, deficient supply and demand for yield.
“Vietnam’s industrial and logistics real estate market is poised for outsized growth given the sustained relocation of manufacturing bases from markets like China, strong growth in domestic exports and imports, and an accelerating shift to e-commerce retailing.”
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