BW breaks ground for new logistics project in VSIP Bac Ninh 2, first of its 12 planned projects for 2024

Ho Chi Minh City, Jan 25, 2024 – BW Industrial Development Joint Stock Company (the “Company” or “BW”), Vietnam’s leading industrial real estate developer, held a groundbreaking ceremony today to initiate the development of a new logistics project in VSIP Bac Ninh 2 industrial park, marking the start of its development plan to kick off 12 new projects in 2024.

Strategically located in Bac Ninh province, the project features a modern institutional grade double-story logistics facility spanning a gross floor area (GFA) of 112,000 square meters. This new project, scheduled for completion in Q1 2025, is BW’s first project launched for development in 2024.

With direct toll-free access through Hanoi – Thai Nguyen highway, the facility is located within a mere 45 minutes from Hanoi CBD and 30 minutes from Noi Bai International Airport, offering tenants remarkable accessibility and convenience. In addition, the new project capitalizes on the imminent infrastructure developments in the North, including the Ring Belt Road IV Hanoi and the Noi Bai – Lao Cai Highway, which when concluded in 2025, will further boost connectivity to the extensive road and highway network in the north.

Furthermore, the site’s attractiveness is accentuated by the presence of major foreign investors such as Samsung Group, Foxconn Group, Canon, Unilever, and Pepsico in the vicinity, making it an ideal logistics hub for industrial manufacturers as well as e-commerce companies and 3rd party logistics providers.

Featuring a clear ceiling height of 9 meters, 3 tons per sqm of floor loading capacity and direct ramp access, the double-storey project is meticulously designed to provide tenants with maximum operational efficiency. The project is applying for LEED gold certification, marking the 5th green project to be developed by BW, showcasing BW’s commitment to sustainable development.
Mr. Lance Li, CEO of BW, remarked, this new project in VSIP Bac Ninh 2 is part of our key strategy to accelerate the expansion of our footprint in Northern Vietnam to meet increasing customer demand. It will be our first double-storey project in the North, amongst several more to come and our first warehouse project in the Bac Ninh province. With its proximity to Hanoi city and seamless connectivity to a modern highway system, it holds immense potential to become a crucial logistics hub for 3PLs, e-commerce, and retail enterprises.

Through the execution of a consistent growth strategy since its establishment, BW has emerged as the leading for-rent industrial platform in Vietnam today, with over 9.0 million square meters of prime industrial land under control across more than 51 projects in 11 key industrial provinces across Vietnam. The latest project will add a total GFA of around 112,000 square meters to its portfolio, thereby expanding its current GFA to approximately 3.4 million square meters of properties completed or under construction and reinforcing its dominant market position in Vietnam.

In recent years, BW has embarked on a transformative journey to facilitate and empower businesses to manufacture in Vietnam. The company is unwavering in its commitment to providing best-in-class solutions to customers while creating long-term value for stakeholders. As a responsible corporate entity, BW has been an active contributor to the socio-economic development of Vietnam, not only through providing exceptional industrial and logistics spaces, but also championing environmental sustainability.