Mitsubishi Estate launches first logistics project in Vietnam

The Nam Thuan Logistics centre is located in Tay Ninh province (formerly part of Long An) near Ho Chi Minh City, covering nearly 11.5 hectares.

Speaking at the opening ceremony, Atsushi Nakajima, CEO of Mitsubishi Estate, emphasised that the launch of this project is a significant milestone in the group’s development journey.

“Two years ago, we decided to invest in warehouse development at Nam Thuan Industrial Park. This is also the first overseas project under the Logicross brand, a brand that, for over a decade in Japan, has been synonymous with high quality, sustainability, and modern logistics infrastructure,” he said.

“We are very proud that Vietnam is the first country where the Logicross brand has expanded internationally. With its robust economic growth, strategic geographic location, and highly skilled workforce, we see tremendous potential in Vietnam. Choosing Vietnam for this important step was therefore a natural decision for us. We are committed to supporting the growth of Vietnam’s logistics industry and contributing to the country’s overall economic development,” he added.

This marks Mitsubishi Estate’s first logistics project in Vietnam, representing a strategic move to introduce the Logicross brand to the global market.

The company’s second project in the country, Logicross Haiphong, is currently under development in northern Vietnam and is scheduled for completion in September.

The total investment for the two projects is estimated at 13.5 billion yen (about $94.4 million). Notably, both projects aim to achieve green certification for sustainable development upon completion.

Vietnam is currently experiencing rapid economic growth and industrialisation, driving significant demand for modern logistics facilities.

Logicross Nam Thuan has been developed based on the four core values of the Logicross brand, safety, convenience, functionality, and flexibility. Eco-friendly designs inspired by nature have been applied to common areas and lobbies, enhancing the working environment for employees.

The project features three single-story warehouse blocks with a minimum leasable area of around 3,000 square meters to accommodate a wide range of tenants.

One of the warehouses has been specially designed with a two-way loading and unloading system, suitable for complex logistics operations such as cross-docking.

As a Japanese real estate developer, Mitsubishi Estate prioritises the use of high-quality equipment and materials from Japan, raising the overall standard of the project.

In addition, Logicross Nam Thuan has obtained LEED BD+C certification from the US Green Building Council, thanks to its environmentally friendly design that incorporates LED lighting, water-saving fixtures, and energy-efficient solutions.

Since August, the project has actively commenced leasing activities and has already attracted strong interest from many enterprises.

Logicross Haiphong is strategically located in the Haiphong port area, the largest international trade gateway in northern Vietnam. The project sits within the Dinh Vu–Cat Hai Economic Zone, home to large-scale industrial parks attracting investment from Japan, South Korea, China, Taiwan, and the United States. The area also benefits from advanced transport infrastructure, with convenient connections to Hanoi and the Vietnam-China border via modern expressways.

The Haiphong project will consist of two warehouse blocks equipped with elevated loading docks, designed to support high-value-added logistics activities.

Currently, Mitsubishi Estate is developing and managing more than 50 logistics facilities across eight countries and territories, primarily in the US. The group plans to continue expanding its global logistics network, aiming to establish a modern logistics ecosystem worldwide.

Mitsubishi Estate entered Vietnam in 2010, established a subsidiary in Ho Chi Minh City in 2019, and opened a representative office in Hanoi in 2020.

In Vietnam, the company has partnered with major players such as CapitaLand and Becamex Tokyu to develop office towers and residential projects in major cities.

With extensive experience across diverse real estate sectors, Mitsubishi Estate has invested more than 100 billion yen (around $680 million) in Vietnam to date.

The group will continue to leverage its global strengths and step up strategic investments in logistics, housing, and office development.

Mitsubishi Estate broke ground on its second Logicross project, Logicross Hai Phong, in Nam Dinh Vu Industrial Park on November 19.

Mitsubishi Estate, a leading Japanese real estate developer, is bringing its renowned Logicross brand to Vietnam with two strategic projects: Logicross Nam Thuan and Logicross Haiphong. Takashi Kagamoto, general director of Mitsubishi Estate Vietnam, shares insights on Logicross’s expansion strategy in Vietnam.