Ascendas-Singbridge JV starts office tower construction in Ho Chi Minh City's first business park

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.

This construction involves Office Tower 1 at OneHub Saigon situated in Saigon Hi-Tech Park. With a gross floor area of about 12,000 sq m over six floors, the tower is expected to start operations from the first quarter next year.

OneHub Saigon will comprise seven office towers, a mixed-use commercial block, an education centre and recreational amenities built with sustainable features, the companies said. It will also feature designated event spaces and social areas dedicated 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.

Said general director of Ascendas Saigon Bund Company Limited, Koh Mui Kwang: "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," he added.

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 of a joint venture between NP Capital Partners and Gaw Capital Partners, a global real estate private equity fund management company.