HCMC – On August 19, Sydney-based logistics developer Logos announced its entry into Vietnam through the Logos Vietnam Logistics Venture, along with a global investor, to establish an initial portfolio of approximately US$350 million, aimed at developing modern and high-quality logistics facilities across the key markets of HCMC, Hanoi and Danang.
Trent Iliffe, Logos managing director and co-CEO, stated that the group’s expansion to Vietnam is an important step in its regional growth strategy driven by customers’ needs.
“We are pleased to be partnering with a leading global institutional investor as part of this move. Being able to establish this new venture in the midst of the Covid-19 pandemic is testament to Vietnam’s exciting growth story, which is driven by global trade wars, the decentralization of supply chains and the natural evolution of this market as well as the proven track record of Logos across Southeast Asia,” Iliffe noted.
Earlier this year, Logos appointed Glenn Hughes, former director of Capital Project and Infrastructure at PwC Vietnam, to lead the group’s in-country strategy.
“The long-term potential of the Vietnamese logistics market is supported by strong tailwinds as companies seek to diversify their supply chains across multiple countries and further invest in technology within their facilities to meet the growing demand for e-commerce,” Hughes said.
Logos has identified an attractive pipeline of development sites for this venture and will be progressing with strategic acquisitions over the next few months.
The Australian firm plans to deliver a steady pipeline of speculative and built-to-suit logistics facilities for its customers in key logistics locations, preparing for occupation over the next 12 to 18 months.
Established in Australia in 2010, Logos is one of Asia Pacific’s leading logistics property groups with a portfolio of 100 logistics estates in nine countries and total assets under management worth approximately US$9.5 billion.
The Saigon Times