HONG KONG SAR –
Media OutReach – 14 June 2022 – Real estate private equity firm Gaw Capital Partners announced today that the firm, through a fund under its management, has completed the acquisition of greenfield land located in Saigon Hi-Tech Park, one of the key high-tech focused business parks in Ho Chi Minh City, Vietnam. This land will be further developed into a carrier neutral Tier III Data Center, which will act as the seed investment of Gaw Capital’s Pan-Asia IDC platform.
Situated 15 km northeast of Ho Chi Minh City CBD and adjacent to the Hanoi Highway, the site is strategically located in an IDC cluster within Saigon Hi-Tech Park, with a site area of 6,056 sqm. The property is in close proximity to a new metro station which is under development with a target opening date in 2023. The construction of this IDC project is expected to be completed by 2024.
With this land, Gaw Capital is expected to develop a Data Center with a total GFA of 18,168 sqm and IT capacity of 20 MW. The project will adhere to progressive ESG objectives and aim to promote sustainable business growth, as well as foster community engagement and creativity.
Kok Chye Ong, Managing Director – Head of IDC Platform, Asia (Ex-China) of Gaw Capital Partners, said, “Gaw Capital is delighted to have this unique opportunity to become one of the first IDC investors in Vietnam, offering an international hyperscale facility. Through the early entry into the market, it allows the firm to be well placed to serve the unmet demand in the market, with that demand being further accelerated by a young, tech-savvy population, rapid pace of development of tech SMEs, and growing high-tech investments in the country. Gaw Capital targets to become the industry-leading IDC investor in Vietnam, and with Ho Chi Minh City developing as a key data center market in Southeast Asia, we will continue to look for new investment opportunities and partnerships in the country.”
Vo Sy Nhan, Co-Founder and CEO of Gaw NP Capital, said, “Vietnam is one of the fastest growing regions in Southeast Asia exhibiting powerful macroeconomic trends and strong demand for internet data centers. Due to the impact of the Covid-19 pandemic, Vietnamese businesses are now more aware of the role of digital technology in their production and business activities, which will drive the growth of digital transformation and data usage. As the master developer, we are confident about the data center sector in Vietnam and look forward to seeing the completion of this IDC project, which is located in our integrated business park, by 2024.”
Gaw Capital Partners was named ‘Alternatives Investor of the Year: Asia’ at the PERE Awards 2021 after receiving the largest number of votes in a public ballot of the real estate industry. In recent years, IDC has been a focus sector for Gaw Capital Partners as the data center industry is one of the cornerstones of the digital economy, which is growing rapidly with broad prospects. The firm was also highlighted for launching two data center platforms in China and two in Pan-Asia. In September 2020, the firm closed fundraising for its first IDC platform, which invested in a portfolio of projects in partnership with IDC developers and operators in China, bringing the total equity raised to approximately US$1.3 billion with the aim to build “green, efficient, innovative and recyclable” data center clusters.
Following this announcement, the Gaw Capital data center platform comprises of data centers located in China, Indonesia, Japan, South Korea and now in Vietnam.