• Photo: GLP


Artikel Nummer: 39277

Raising funds for development in Vietnam

After entering the Vietnam market in 2020 through a strategic joint venture with SLP Singapore and Ho Chi Minh City, real estate developer GLP has now set up the GLP Vietnam Development Partners I (GLP VDP I) with an investment capacity of USD 1.1 billion.


The fund has received commitments from international investors including the Dutch pension fund manager APG Asset Management and the Canadian financial services provider Manulife. GLP VDP I, which will focus on developing logistics facilities in Greater Hanoi and Greater Ho Chi Minh City, is seeded with six development sites with a total land area of close to 900,000 sqm.


Craig A. Duffy, managing director, fund management: “Vietnam is one of the most attractive markets in SEA. We see similarities between Vietnam and our logistics businesses in China and India." Chih Cheung, a founding partner of SLP: "Vietnam's logistics industry is also experiencing strong growth due to strong domestic consumption from a rising middle class and rapid e-commerce adoption." (sh)




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