A partnership between Logos and Manulife Investment Management has bought its first asset in Vietnam for a development which will have an end value of U$80m (€70m).
The Logos Vietnam Logistics Venture purchased the 11-hectare, build-to-suit logistics asset in Greater Ho Chi Minh City.
Located in the Dau Giay Industrial Park in Dong Nai Province, the property comprises three warehouse facilities, two of which were completed in 2021 with the third to be completed in late 2022. Already, the facility is 100% committed to a global occupier.
Logos’ head of Vietnam, Glenn Hughes, said Vietnam offered many opportunities as international companies continued to diversify their supply chains across multiple countries, investing in their facilities to ensure supply chain resilience while meeting the growing consumer demands of ecommerce.
This acquisition with Manulife represents the fourth recent acquisition for the Logos Vietnam Logistics Venture, which was established in August 2020 with a global institutional investor for the development of facilities across the key markets of Greater Ho Chi Minh, Greater Hanoi and Greater Danang.
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