Asia Digest: Gaw Capital completes Vietnam deal; Far East Orchard forms $32m JV

Ho Chi Minh City, Vietnam. Photo: Pixabay

Gaw Capital Partners and Far East Orchard have announced new real estate transactions.

Gaw Capital completes acquisition in Vietnam

Real estate private equity firm Gaw Capital Partners has completed the acquisition of greenfield land located in Saigon Hi-Tech Park, a business park in Ho Chi Minh City, Vietnam.

The land will be developed into a carrier-neutral tier III data centre that will act as the seed investment for Gaw Capital’s Pan-Asia IDC platform.

“Gaw Capital targets to become the industry-leading IDC investor in Vietnam, and with Ho Chi Minh City developing as a key data center market in Southeast Asia, we will continue to look for new investment opportunities and partnerships in the country,” said Kok Chye Ong, managing director – Head of IDC Platform, Asia (Ex-China) of Gaw Capital Partners.

The platform comprises data centres located in China, Indonesia, Japan, South Korea and now Vietnam.

Far East Orchard forms $32m JV

Far East Orchard Investment Holding Pte (FEOI) has entered into a joint venture agreement and share subscription agreement with Aurum Investments (Private) Limited and Way Assets Pte. Ltd to acquire a plot of land in Bristol in the UK to carry out the development of a purpose-built student accommodation project.

FEOI has subscribed for shares in a joint venture company incorporated in Singapore named Silverthorne Locke Holdings Pte. Ltd. (SLH). FEOI holds 50% in SLH while Aurum and Way Assets own 37.5% and 12.5% respectively.

SLH is the 85% shareholder of a company incorporated in the UK named Silverthorne Locke Limited (SLL), with the remaining 15% held by Atlas Land Limited.

The JV has agreed to commit capital and shareholder loans of up to an aggregate of £26.6m ($32 million) into SLH, which will be funded by the JV partners. The project is expected to be fully completed in the financial year ending 31 December 2027.

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