BW breaks ground on Long An warehouse

The facility is set to be completed in December 2024 within the Vinh Loc 2 Industrial Park in the dynamic Long An market.

Situated along National Route 1A and the Ho Chi Minh-Trung Luong Expressway, a less than 50-minute drive from HCMC center and a 75-minute drive from Cat Lai Port, the project offers tenants unparalleled accessibility and convenience.

In addition, surrounded by the neighboring Thuan Dao and Phuoc Long industrial clusters, this site presents compelling opportunities for distribution, e-commerce, retail, cold storage, and 3PL operations.

BW's ready-built warehouse in Vinh Loc 2 will offer unparalleled opportunities for city distribution, e-commerce, retail, cold storage, and 3PLs operations. Photo courtesy of BW

The project features an institutional double-story warehouse with a clear ceiling height of 9 meters, up to 3 tons per square meter of floor loading capacity, and ramp access, meticulously designed to integrate the latest in technology and high construction and sustainability standards to provide tenants with maximum operational efficiency.

Aiming for the prestigious LEED Gold certification, the project will incorporate essential features such as solar streetlights, LEED-compliant sanitary wares, and low-emitting materials. In addition, the project will be equipped with an ESFR sprinkler system that is compliant with NFPA 13 standards, eliminating the need for in-rack fire sprinklers for storage applications.

According to BW, this facility demonstrates its dedication to establishing a benchmark in the local industrial real estate market and its steadfast commitment to environmental sustainability.

Lance Li, CEO of BW, said that the growing purchasing power of HCMC makes Long An an ideal location not only for retail and e-commerce companies but also for agricultural and aquacultural players looking to penetrate the local market.

Through Vinh Loc 2, BW seeks to expand its geographic footprint into the southwest of the greater HCMC and serve a broader base of clients, focusing on budget-sensitive customers.

Vietnam is significantly underserved in terms of its modern warehouse supply, especially institutional-grade warehouses. At its current stage, the per capita modern warehouse stock in the country is a mere fraction of that of nearby countries like China and South Korea.

The modern warehouse industry, therefore, enjoys favorable tailwinds, driven by outsized opportunities in manufacturing, increasing domestic consumption, the rapid growth of e-commerce, and trade activities that are outpacing regional peers.

"With Vietnam’s e-commerce market expected to grow over 20% CAGR (e-Conomy SEA 2023 report) through 2025 on the back of the fastest-growing middle-class population and high internet penetration of over 70% today, e-commerce-dedicated logistic space in Vietnam could potentially grow more than 2 million square meters in the near- to mid-term to meet future demand," Li said.

The modern warehouse industry enjoys favorable tailwinds, according to BW CEO. Photo courtesy of BW

Through the execution of a clear and consistent growth strategy since its establishment, BW has emerged as the largest for-rent logistics and industrial platform in Vietnam today, with over 8.5 million square meters of prime industrial land under control across 40 projects in 11 key industrial provinces across Vietnam.

The latest project will add a total GFA of around 105,000 square meters to its portfolio, thereby expanding its current GFA to over 3 million square meters of properties completed or under construction and reinforcing its dominant market position in Vietnam.

BW has been focused on developing for-rent modern warehouses and light industrial facilities to capture the outsized growth opportunities of manufacturing, increasing domestic consumption, and the rapid growth of e-commerce.

As of the first quarter of 2023, BW has secured equity commitments of more than US$1 billion from its investors and partners and has formed strategic partnerships with leading global manufacturers, e-commerce, and logistics players to serve one of the fastest-growing markets in Asia. For more information about BW, please visit here.