Gaw Capital Partners Completes Acquisition of Greenfield Land in Saigon Hi-Tech Park to Develop a Carrier-neutral Tier III Data Center in Ho Chi Minh City
- Written by The Post
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.
About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity fund management company focusing on real estate markets in Asia Pacific and other high barrier-to-entry markets globally.
Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with its own in-house asset management operating platforms in commercial, hospitality, property development, logistics, IDC and education. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses and IDC projects.
Gaw Capital has raised seven commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in the US, a Pan-Asia Hospitality Fund, a European Hospitality Fund, a Growth Equity Fund and provides services for credit investments and separate account direct investments globally.
Since 2005, Gaw Capital has commanded assets of US$35.2 billion under management as of Q1 2022.
About Gaw NP Capital
Gaw NP Capital was established in 2019 as a partnership between Gaw Capital Partners and NP Capital Partners, focusing on real estate development and investment management activities in Vietnam. By leveraging NP Capital's vast network and local know-how and Gaw Capital's development expertise, Gaw NP Capital hopes to tap into Vietnam-centric opportunities in the real estate and fast-growing new economy sectors.
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The issuer is solely responsible for the content of this announcement.
