US solar-panel manufacturer First Solar has appointed Cushman & Wakefield Vietnam as the exclusive agent to sell its 113,000 square-meter manufacturing facility at Dong Nam Industrial Park in HCMC’s Cu Chi District.
The company originally built the plant to produce photovoltaic solar panels but have since declared the site surplus and now are looking to sell the facility in 2012.
Cushman & Wakefield Vietnam is seeking buyers for part or the whole of the facility which was completed in April of this year by M+W Group from Germany.
“This facility is brand new and been constructed to international standards by a global engineering and construction firm,” said Chris Brown, General Manager of Cushman & Wakefield Vietnam.
“It is suitable for a variety of industrial production or logistics uses and offers a unique ‘ready to operate’ opportunity, because of this we are already witnessing strong interest from overseas manufacturers and investors,” he added.
Increased direct foreign investment to Vietnam in the manufacturing sector from other regional countries such Japan, Korea, Singapore and China will make this an attractive prospect to base their operations, said Cushman & Wakefield Vietnam.
The aforementioned regional manufacturing hubs are becoming less competitive due to increasing labor costs, foreign exchange rates, and utility costs coupled with government policy on tax and export duties.
Companies are increasingly looking towards competitive markets such as Vietnam to pare down expenses.
“We are confident that given the strong interest in Vietnam from manufacturers in the region and beyond, we will be able to secure a buyer sooner rather than later,” Brown added.
Dong Nam Industrial Park (IP) occupies a strategic position near to two key hotspots: Ho Chi Minh City and Binh Duong Province, the nation’s top regional recipient of foreign direct investment and location of many high profile industrial operations.
National highway 13 is only 5 minutes from the site providing quick access to Binh Duong, Tan Son Nhat International Airport, Ho Chi Minh City’s central business district and the port at Cat Lai.
The IP also has the advantage of easy access to other inland transportation and waterway links and there is an active labor pool within close proximity to the site.
The owners of the 342 hectare park, Saigon Vietnam Rubber Group, will give priority to clean and efficient hi-tech operations in sectors such as mechanical engineering, information technology, chemical processing, construction materials, furniture manufacturing, and sports equipment manufacturing.
Their vision is to develop the park as a centre of high-tech processing and low-impact environmental emissions.
The facility itself consists of 107,000 square meters of industrial space divided into two production areas and a large logistics area whilst there is an external office building of approximately 6,000 square meters.
It is set on a 23 hectare plot with a further 21 hectares set aside for expansion and has ample water and electricity supply for high production manufacturing uses.
Cushman & Wakefield Vietnam has advised Y&R in relocating their head office in District 1 from Miss Ao Dai Building to the 12th floor of HMC Building, 193 Dinh Tien Hoang.
The main drivers for the relocation are to accommodate significant head count growth and to provide a creative working environment for Y&R employees, said Matthew Collier, CEO of Y&R Vietnam.