The venture aims to establish an initial forecast portfolio of approximately $350 million and focuses on Ho Chi Minh City, Hanoi and Danang.
The funding will help ITL transform and grow by acquiring new assets, developing new warehouses and facilities, and deploying advanced information technology systems.
The real estate consultancy anticipates elevated investment activity, sustainability and technology to be the next focus.
The amount will be spent over the next five years to help the multi-service super app tap opportunities in fintech, mobility solutions and logistics in Vietnam.
London-listed Symphony International Holdings Limited (Symphony) has acquired a significant minority stake in Vietnam-based Indo Trans Logistics Corporation (ITL).
With improving market fundamentals, Vietnam stands a good chance of winning logistics market share as its regional peers shift towards more mature industrial development, according to Jones Lang Lasalle.
In 2018, it is the first time that the Government attaches such great importance to logistics, which is both an opportunity but also a tough challenge, according to Le Duy Hiep, Chairman of Vietnam Logistics Association (VLA).
Vietnam's air cargo transportation brings about 25 per cent of the total export value though it currently accounts for less than one per cent of total export volume.
Vietnam's logistics industry has the potential to become a key economic sector; however, after 40 years of operation, it still shows many weaknesses.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
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