In recent years, Vietnam’s industrial real estate has emerged as a magnet for long-term capital, driven by a stable macroeconomic environment, robust foreign direct investment (FDI), and the country’s growing role in regional manufacturing networks. Against this backdrop, BW Industrial has announced a strategic partnership with an international investment firm to develop a portfolio of ready-built factories for lease.
The joint venture, with a total investment of $120 million, will initially focus on three projects currently under development, spanning approximately 270,000 square meters of built-up area. These projects are slated for completion between 2026 and 2027 in Vietnam’s key economic zones, offering direct connectivity to highways, international airports, and seaports. The target tenants include companies in electronics, automotive, and other high-value manufacturing sectors.
Under the partnership, BW will oversee asset management and project development, managing the entire process from investment opportunity identification to construction, operation, and portfolio management. This model leverages BW’s proven execution capabilities and asset management expertise cultivated in the Vietnamese market.
The joint venture’s launch comes as Vietnam’s industrial real estate market continues to benefit from long-term growth drivers. Global supply chain diversification remains a dominant trend, prompting manufacturing conglomerates to expand or relocate operations within Asia. Despite trade-related uncertainties, major manufacturers are reaffirming their investment commitments in Vietnam, solidifying its position in the global supply chain.
Ready-built factories are increasingly favored by companies entering the market or scaling up production, thanks to their ability to shorten deployment timelines, optimize upfront investment costs, and enhance operational flexibility.
Leveraging its market insights and execution strengths, the BW-led joint venture will focus on developing large-scale industrial parks that meet international investment standards. The goal is to augment the supply of industrial infrastructure, catering to the demand for flexible spaces and rapid deployment from both multinational corporations and high-growth domestic enterprises.
Commenting on the partnership, Fion Ng, Chief Operating Officer of BW, stated that the joint venture marks a significant milestone in the company’s growth trajectory. She emphasized that combining BW’s local market expertise with its partner’s global investment capabilities will foster the development of modern industrial infrastructure, attract FDI, and elevate Vietnam’s standing in the global supply chain.
Rendering of one of the projects currently under development
Since its establishment in 2018, BW has steadily expanded its operations. As of December 2025, the company has leased over 4 million square meters of floor space to more than 470 tenants, over 90% of which are foreign-invested enterprises. BW currently manages a land bank of over 10 million square meters across 60 projects in 10 provinces and cities nationwide.
According to Cushman & Wakefield’s Q3 2025 report, occupancy rates for ready-built factories in key northern and southern economic zones remain around 90%, reflecting sustained demand for high-standard industrial infrastructure. Savills Vietnam also noted that over half of new FDI projects in manufacturing opt for ready-built factories to expedite project timelines and accelerate operations.
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