Expansion strategy to strengthen its property development and operations throughout Vietnam

HANOI, 6 FEBRUARY 2023

Frasers Property Vietnam (FPV), one of the country’s leading diversified property developers, today announced that it is strengthening its footprint by opening its second office location in Vietnam. The new office in Hanoi signifies Frasers Property’s commitment to Vietnam’s economic development and growth, underscoring the confidence it has in the long-term growth potential across North Vietnam.

The new office is located at HCO Building in Hoan Kiem district within Hanoi’s bustling downtown, while Frasers Property’s first representative office continues to be at Melinh Point, a Grade A office building owned and managed by the company within Ho Chi Minh City’s CBD. This expansion is supported by a strong team to contribute to new development for Frasers Property's ambitions.

Edwin Tan, Deputy CEO of FPV, said, "We have seen significant growth in the scale and operation of our business over the past few years and are now looking to expand and scale nationally. The opening of our Hanoi office is part of FPV's overall growth plan, bringing us closer to our valued real estate customer base, and also enabling us to launch our Northern portfolio in the near future. As we grow meaningfully and further our presence in Vietnam from the past two decades, we want to make a lasting impact on creating spaces that are inspiring and good for communities and the environment."

Frasers Property has made impressive investment footprints in the Vietnamese market over the past two decades in three synergistic asset classes – industrial, commercial, and residential – at the heart of the company’s growth strategy to establish itself as a leading real estate company across the country. FPV is the first real estate company in Vietnam with Science Based Targets initiative (SBTi)-approved targets for its science-based approach to significantly reduce greenhouse gas (GHG) emissions. FPV targets to reduce its absolute Scopes 1, 2 and 3 emissions by 46.2% by FY2030 from base year FY2019 base year.

Key properties in its Vietnam portfolio include:

• Binh Duong Industrial Park, one of the first development projects in Vietnam designed to achieve the LEED Gold green building certification, which requires the incorporation of key sustainable design features to enhance occupant productivity, operational efficiency and well-being.
• Melinh Point, the first existing non-residential building in Vietnam to achieve Green Mark Platinum certification awarded by Singapore’s Building and Construction Authority.
  
• Q2 Thao Dien, a mixed-use development in Ho Chi Minh City with office, retail and residential components, which consists of Worc@Q2, a modern-style serviced-office tower.