Ascendas-Singbridge JV starts construction on office tower in Ho Chi Minh City business park
[SINGAPORE] URBAN solutions provider Ascendas-Singbridge and its joint venture partner, Saigon Bund Capital Partners, on Tuesday announced that construction works for an office tower in Ho Chi Minh City's first fully integrated business park has begun.
The construction involves Office Tower 1 at OneHub Saigon in Saigon Hi-Tech Park. With a gross floor area of about 12,000 sq m over six floors, the tower is expected to commence operations from the first quarter of next year.
In addition, OneHub Saigon aims to provide a "seamless and vibrant work-live-play-learn environment for its tenants and the surrounding community", the companies said.
The 12-hectare development will comprise seven office towers, a mixed-use commercial block, an education centre and recreational amenities with sustainable features. It will also feature designated event spaces and social areas for networking and relaxation.
According to the joint venture partners, leasing for Tower 1 is now open, and customers targeted include firms in the information technology, business process outsourcing, and finance sectors.
Other potential occupants include companies looking for big floor areas to improve productivity, and those that support tenants in Saigon Hi-Tech Park.
Koh Mui Kwang, general director of Ascendas Saigon Bund Company, said: "We are very excited to celebrate this significant milestone in the development of OneHub Saigon.
"A campus-style business park, OneHub Saigon will be a hub for everyone, creating spaces that encourage collaboration to facilitate growth of enterprises and industries in Vietnam.
"Tenants at Tower 1 can look forward to a premium quality business space solution that is customisable to their business needs, at a fraction of rental rates in the Central Business District."
Ascendas-Singbridge is jointly owned by Temasek Holdings and JTC Corporation with assets under management exceeding S$20 billion.
Saigon Bund Capital Partners is an investment company comprising a joint venture between NP Capital Partners and Gaw Capital Partners, a global real estate private equity fund management company.
