Hankyu Hanshin Properties and CRE Acquire Logistics Site in Vietnam’s Hai Phong via Sembcorp JV
In July 2025, Hankyu Hanshin Properties and CRE acquired a logistics development site in the Dinh Vu Industrial Zone of Hai Phong, northern Vietnam, through Sembcorp Infra Services, a joint venture with Singapore-based Sembcorp Development.
The site includes one existing warehouse with a leasable area of approximately 3,025 tsubo (approx. 107,000 sq. ft.), and spans a total land area of about 45,375 tsubo (approx. 1.6 million sq. ft.). Starting in June 2025, five additional warehouses totaling approximately 24,200 tsubo (approx. 858,000 sq. ft.) are planned for construction, with completion targeted for winter 2026.
Once complete, the Hankyu Hanshin–CRE–Sembcorp consortium will operate a total of 17 logistics facilities in Vietnam—11 in the north and 6 in the central region—with a combined gross leasable area of approximately 72,600 tsubo (approx. 2.6 million sq. ft.).
Located near major arterial roads connecting Hai Phong Port and Hanoi, the site offers excellent access and is positioned as a regional logistics hub. The industrial park is also equipped with advanced infrastructure supporting circular economy initiatives, including renewable energy systems and plastic waste recycling. These features make the site especially attractive to multinational corporations focused on ESG compliance.
Sembcorp Group has over 35 years of experience developing industrial parks across Asia and benefits from the creditworthiness of its parent company, Sembcorp Industries, a portfolio company of Singapore’s state investment fund Temasek. Hankyu Hanshin Properties aims to leverage its domestic expertise in property management, while CRE will use the project to further globalize its asset management capabilities.
Key Facts
Project Name: Sembcorp Logistics Park
Developer: Sembcorp Infra Services Pte. Ltd. (Joint venture of Hankyu Hanshin Properties, CRE, and Sembcorp Development)
Location: Dinh Vu Industrial Zone, Hai Phong, Vietnam
Site Area: Approx. 45,375 tsubo (approx. 1.6 million sq. ft.)
Leasable Area (Existing): Approx. 3,025 tsubo (approx. 107,000 sq. ft.)
Leasable Area (Planned): Approx. 24,200 tsubo (approx. 858,000 sq. ft.) across 5 new warehouses
Total Facility Count Upon Completion: 6 (1 existing, 5 new)
Construction Start: June 2025
Completion: Winter 2026
Number of Floors: 1F (all warehouses)