Hulic and Indochina Kajima forms joint-venture to develop industrial projects in Vietnam
Hanoi, January 8, 2025 – Hulic invests in Vietnam’s rapidly growing industrial segment through a joint-venture with Indochina Kajima for Core5 Hung Yen and Core5 Quang Ninh ready-built factories.
Hulic, a Japanese real estate company with over 60 years of experience, enters into a joint-venture with Indochina Kajima for the ready-built-factory assets of Core5 Hung Yen and Core5 Quang Ninh, tapping into Vietnam’s potential as a gateway for growth as, for the second consecutive year, Vietnam ranks 2nd in the 2025 Asia Manufacturing Index by Dezan Shira & Associates.
Recognizing the needs of manufacturers for optimization of time and cost to start or expand operations, Indochina Kajima has been rolling out ready-built factories and warehouses for lease since 2022 under its industrial brand Core5 Vietnam, providing world-class, LEED certified, strategically located space for lease in manufacturing and logistic hubs across northern Vietnam, including Quang Ninh, Hung Yen, Hai Phong and Vinh Phuc.
Core5 Quang Ninh, currently fully leased, is located within Bac Tien Phong Industrial Zone, 14km from Lach Huyen Port and 20km from Cat Bi International Airport, delivering over 69,000 sqm of floor area for lease, with single-story, single-story with mezzanine and 2-story blocks.
Core5 Hung Yen, at the heart of Minh Duc Industrial Park, 40km from Hanoi and 55km from Noi Bai International Airport, offers over 63,000 sqm of world-class ready-built industrial space for lease. After 9 months of operations, Core5 Hung Yen’s occupancy is close to reaching the nationwide average occupancy rate of 77%, with a strong tenant prospects pipeline.
All projects are LEED-certified and all feature Core5 signature curved curtainwall office, international standard utilities and firefighting protection systems, dry loading bays, and a parking area with 24/7 security. Core5 assets focus on the wellbeing of tenants and workers, with heat reducing landscaping and health and wellness common areas.
Core5 Vietnam also offers a one-stop solution, supporting tenants in supply chain study, pre-and-post licensing services, customization of the leased area, and in accounting and business development to ensure seamless business operations and accelerated growth for tenants and partners.
With the joint-venture, Hulic and Indochina Kajima will collaborate to further capture opportunities for Core5 Quang Ninh and Core5 Hung Yen in the global supply chain.
Vietnam’s gross domestic product grew 7.09% in 2024, surpassing the Government’s target of 6.5% for the full year. Growth has been fueled by a significant upturn in manufacturing activities and exports, and the country is forecasted to remain a focal point for global investors and manufacturers.
