15:50 | 01/10/2015 Economy
(VEN) - October 1, Ascendas, Asia’s leading business space solutions provider, and its joint venture partner, Saigon Bund Capital Partners, celebrated the groundbreaking of OneHubSaigon, a 12-hectare integrated business park development located at Saigon Hi-Tech Park in Ho Chi Minh City .
OneHub Saigon, held by Ascendas and Saigon Bund Capital Partners through a 60:40 joint venture, will be developed in threephases, with an estimated total development cost of approximately US$130 million (S$163 million).
Today’s groundbreakingkicks off the construction ofthe US$80 million Phase 1 of the integrated development project, which will include more than 12,000 square meters of business park spaces, supported bylifestyle amenities that include a mixed-use commercial development with retail components. Phase 1 is expected to be completed by 2018.
This development sets a new benchmark for business parks in Vietnam, comprising quality business park spacesideal for companies in the Hi-Tech & supporting industries, IT, ITenabled-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.
Mr Manohar Khiatani, President and Group Chief Executive Officer of Ascendas,said, “The groundbreaking of OneHub Saigon marks another major milestone for Ascendas. This projectdeepens 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”.
Mr Vo Sy Nhan, Chairman of Ascendas Saigon Bund Co., Ltd. said, “We are excited to see OneHub Saigon beginning to shape up as one of the most unique offerings within Saigon Hi-Tech Park. LeveragingAscendas’ 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.”
Located at the heart of District 9 and Thu Duc District, just 15 kilometres from the city centre, and spanning over 900 hectares, 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 at August 2015, the park has attracted capital investments from almost 100 multinational companies, exceeding US$4.7 billion. Key tenants at Saigon Hi-Tech Park include global MNCs such as Samsung, Intel, Nidec, Sanofi Aventis, Air Liquide, Datalogic and leading Vietnamese companies such as FPT, Hutech and Nanogen.