Mapletree, the Singapore a leading real estate development, investment and capital management company today (March 22) opened the Mapletree Business Centre – its first office development with Grade A specifications in Vietnam by Singapore’s Prime Minister Lee Hsien Loong.
The completion of Mapletree Business Centre marks the second phase of precinct transformation at the 4.4-hectare Saigon South Place Complex located in the affluent District 7 of Ho Chi Minh City.
Guest-of-honour Singapore’s Prime Minister Lee Hsien Loong graced the opening ceremony with Vietnam’s Deputy Prime Minister, Trinh Dinh Dung at the office development in Ho Chi Minh City.
Mapletree Business Centre is a 17-storey office tower with 28,384 square metres of gross floor area and is designed to international Grade A specifications.
The premium office tower has attracted strong leasing interests from many global and local corporations, and is home to companies including Standard Chartered Bank, Uniben, Far Eastern Polytex and SCC UK.
Saigon South Place Complex mixed-use project is master-planned and developed by Mapletree in phases.
The first phase was a joint venture with Saigon Co.op - SC VivoCity, a shopping mall with 64,250 sqm of gross floor area which opened in April 2015. An Oakwood-branded serviced apartment and a high-rise residential block RichLane Residences are on track for completion by end 2017. There are also plans for two more office towers in the precinct.
According to Edmund Cheng, chairman of Mapletree, tapping on rich experience in rejuvenating the HarbourFront and Alexandra precincts in Singapore, Mapletree aimed to create a work-live-play environment by combining lifestyle, office and residential at Saigon South Place Complex.
“We are honoured to have Singapore’s Prime Minister Lee Hsien Loong visit and officiate the opening of Mapletree Business Centre. This signifies the contribution of Saigon South Place Complex in an urbanising Ho Chi Minh City,” Cheng said.
Mapletree entered Vietnam more than 12 years ago and has grown from one logistics project into one of the largest Singapore real estate companies in Vietnam by capital investment.
According to Hiew Yoon Khong, Group Chief Executive Officer of Mapletree, today, Mapletree owns and manages more than S$1.2 billion worth of mixed-use, office, retail, industrial, logistics, residential and serviced apartment assets in Hanoi, Ho Chi Minh City, Binh Duong and Bac Ninh.
“We are exploring Vietnam further as we view the country to be a key market for Mapletree,” Khong said.
Mapletree Business Centre is developed and managed by Mapletree Vietnam Management Consultancy Co., Ltd. Its quality office space comprises features such as large column-free floor plates, raised floors, a three-metre high ceiling and an all-glass façade for lighting optimisation, pushing the boundaries in office development in Vietnam.