Hulic, Indochina Kajima form joint venture for industrial projects in Vietnam

The collaboration focuses on Core5 Hung Yen and Core5 Quang Ninh, two major industrial facilities offering LEED-certified, ready-built factories and warehouses for lease. The move signals Hulic's foray into Vietnam's booming industrial real estate sector, capitalizing on the country's second-place ranking in the 2025 Asia Manufacturing Index by Dezan Shira & Associates.

Core5 Quang Ninh, fully leased since its launch, is situated within the Bac Tien Phong Industrial Zone, 14 km from Lach Huyen Port and 20 km from Cat Bi International Airport. It offers over 69,000 square meters of leasing space, with single-story, mezzanine, and two-story configurations.

Core5 Hung Yen, located 40 km from Hanoi in Minh Duc Industrial Park, provides 63,000 square meters of industrial space. After nine months of operation, the facility is nearing Vietnam’s average industrial occupancy rate of 77 per cent, supported by a robust pipeline of potential tenants.

Both projects include Core5’s signature features, such as curved curtain-wall offices, advanced utilities, dry loading bays, 24/7 security, and worker-friendly facilities like landscaped areas and wellness zones.

The joint venture aims to leverage growing demand for ready-built factories among manufacturers seeking cost-effective and time-saving solutions for launching or expanding operations in Vietnam. 

“The properties are located in strategic areas near Hanoi and Hai Phong, the major cities in northern Vietnam, with excellent access to international airports and large ports, which attract manufacturers who export their products worldwide”, said Kazuhiro Noguchi, Executive Managing Officer at Hulic. “RBF allows tenants to begin operations quickly and expand flexibly, meeting the evolving needs of global companies entering the Vietnamese market”.

Vietnam's gross domestic product grew 7.09 per cent in 2024, surpassing the government’s target of 6.5 per cent, driven by robust manufacturing and export activities. The country is increasingly favored by foreign investors, ranking among Asia's top five emerging markets in the Global Opportunity Index.

“Vietnam is a Top 5 favorite investment destinations among Asia's emerging and developing economies according to the Global Opportunity Index, and we have confidence high quality foreign investment will continue to pour into the country.“ shared Peter Ryder, Executive Chairman of Indochina Capital and Director of Indochina Kajima.

The partnership underscores Hulic and Indochina Kajima’s commitment to capturing growth opportunities as Vietnam solidifies its position in the global supply chain.