Chuong Duong Beverage JSC unveils the first real estate project in collaboration with Me Linh Point Limited

09:11 | 30/12/2021 Events

Chuong Duong Beverage Joint Stock Company (CDBECO) marked an inaugural groundbreaking ceremony to develop approximately 43,000sqm of Grade A facilities which comprised a beverage packaging factory and a built-to-suit warehouse in My Phuoc 3 Industrial Park, Binh Duong Province on December 29, 2021.

The total investment is projected to cost more than VND320 billion. This will form part of the CDBECO's long-term strategy to further expand its distribution network, route-to-market and create greater value for its shareholders.

chuong duong beverage jsc unveils the first real estate project in collaboration with me linh point limited

The symbolic groundbreaking ceremony also celebrates the first collaboration and formal partnership between CDBECO and MLP, a real estate JV between SABECO and Frasers Property Vietnam. Together with the main contractor COFICO E&C, CDBECO aims to create an innovative and sustainable industrial property that will meet LEED (Leadership in Energy and Environmental Design) Certification standards with high-quality specifications to suit own production needs and those of world class clients.

The project development is targeted to complete by August 2022. The built-to-suit warehouse will be leased out to strategic clients.

Addressing the ceremony, Chairman of CDBECO Mr. Bennett Neo shared “This project will further expand our distribution network, route-to-market and creating new revenue streams for CDBECO through optimizing our existing assets. This will increase our overall shareholder value, along with other new initiatives from our core business in 2022.”

With a history spanning more than 69 years, Chuong Duong Beverage JSC is one of the pioneer beverage companies in Vietnam manufacturing soft drinks and bottled water. Some of the product brands in its portfolio include Sa Xi Chuong Duong, Saxi Zero Chuong Duong, Soda Chuong Duong, Nam Phuong Ngoc Yen Chuong Duong and Nuoc Uong Chuong Duong. Chuong Duong is a subsidiary of Saigon Beer - Alcohol - Beverage Corporation (SABECO).