Indochina Kajima, a joint venture between Indochina Capital and Japan’s Kajima Corporation, began construction of the Core5 Quang Ninh project at DEEP C Quang Ninh 2 in the Quang Yen Economic Zone in the northern province of Quang Ninh on March 29.

Speaking at the breaking ground ceremony, Mr. Keisuke Koshijima, Representative Director and Executive Vice President of the Kajima Corporation, said Quang Ninh is a core growth engine in the Northern Key Economic Region as Vietnam’s only province with land and sea borders with China. The province has great potential for cross-border trade, sea trade, and commercial services, and will serve as a major regional intermodal hub for the manufacturing, processing, and logistics sectors. “I greatly appreciate the vision and commitment of local authorities and I believe that Core5 Quang Ninh will make a positive contribution to helping the province achieve its goals,” he added.

The project will deliver a total of 69,000 sq m of world-class ready-built industrial space for lease. Handover of the first factories is expected in March 2024.

Core5 Vietnam, owned by Indochina Kajima, is a Vietnam-based industrial real estate investment and development platform focused on the nationwide roll-out of world-class factory and warehouse properties for lease throughout Vietnam’s key manufacturing and logistics markets.

Mr. Peter Ryder, CEO of Indochina Capital, said Core5 Quang Ninh will attract tenants looking for high-quality, sustainable, and flexible property solutions thanks to its strategic location, unique design, and unparalleled international-standard services. Given its favorable geographical proximity to China’s manufacturing hubs and accessibility to modern highways and international deep seaports, the province has attracted large-scale manufacturers such as Jinko Solar, Boltun, Skoda, Stavian, and Foxconn, generating the necessary presence of top-tier suppliers for these companies. “Our expertise in luxury hospitality for over 20 years and our attention to unique architecture provide a signature look for Core5 Quang Ninh and, most importantly, contribute to improving the working environment and tenant cost savings as well as best-in-class value added services to ensure the smooth set up and accelerated establishment for our clients.”

Given its prime and strategic location, Core5 Quang Ninh offers convenient access to its tenants. The site is only a two-hour drive from Mong Cai’s border with China, 14 km from Lach Huyen International Deepwater Port, and 20 km from Cat Bi International Airport, and has direct access to Hanoi via the Hai Phong Highway.

The project provides ready-built factories for lease with terraced design and workshop / warehouse areas ranging from 2,835 sq m to 18,194 sq m. Each unit will be equipped with the Core5 Vietnam signature curved curtainwall office, necessary utilities, firefighting and protection systems in the factory area, dry loading bays, and a car and motorbike parking area.

For the first time, Core5 Vietnam will offer two-story factories, which are often preferred by electronics manufacturers. In addition, Core5 Quang Ninh will feature rooftop solar panels, outdoor areas with health and wellness elements, canteen areas, and as the standard for all projects, water and energy efficient systems following the LEED-certified green building design.

Quang Ninh stands out as a promising destination for FDI thanks to its improved investment environment, proven by its Number 1 ranking in the Provincial Competitiveness Index (PCI) for five consecutive years from 2017 to 2021. The province targets attracting over $1 billion worth of FDI this year.