Ascendas teams up with Saigon Bund Capital Partners to develop OneHub Saigon business park in Vietnam

Ho Chi Minh City, Vietnam, 25 September 2014 – Asia’s leading business space solutions provider, Ascendas Pte Ltd (“Ascendas”), today entered into a joint venture with Saigon Bund Capital Partners to develop OneHub Saigon, a new integrated business park in Saigon Hi-Tech Park in Ho Chi Minh City, Vietnam. Ascendas’ partner, Saigon Bund Capital Partners, is a joint venture between NP Capital Partners and Gaw Capital Partners, a leading private equity real estate firm based in Hong Kong.

The joint venture was finalized at the Investment Certificate Presentation Ceremony for OneHub Saigon, where the Chairman of the Ho Chi Minh City People’s Committee Mr Le Hoang Quan presented the investment certificate to Mr William Tay, Chief Executive Officer for Ascendas South-east Asia, and Mr Vo Sy Nhan, Managing Director of Saigon Bund Capital Partners. Mr Goh Chok Tong, Emeritus Senior Minister and former Singapore Prime Minister, witnessed the ceremony, which was held at the Ho Chi Minh City provincial government office. The issuance of the investment certificate will mark the approval by the authorities in Vietnam for the joint venture to commence planning and development of the project.