Ascendas, Asia’s leading business space solutions provider, has partnered with Vietnamese state-owned Protrade Corporation to develop a new 500-hectare industrial park in Binh Duong Province, Vietnam.

The Ascendas-Protrade Singapore Tech Park (AP Singapore Tech Park) project is located in the Ben Cat District. The park will be developed in three phases. When fully completed in three years’ time, the park is expected to support a working community of over 40,000 people.

Preparation of the land and necessary infrastructure for the whole project is expected to cost about USD100million (S$145 million/ VND 1,604 billion), excluding the subsequent development of built-up space. The Park will offer options of prepared land and Built-To-Suit as well as Ready-Built Facilities.

AP Singapore Tech Park will provide quality infrastructure and facilities for light and clean industries, such as food and beverage, precision engineering, electronics, healthcare and pharmaceuticals. The park forms an important component of the new 1,350-hectare An Tay Industry and Service Complex, an integrated township that will incorporate residential and recreational facilities to offer a conducive work-live-play environment for people working in the area.

The AP Singapore Tech Park project was announced in Binh Duong at a commencement ceremony held on 15 December 2007, jointly officiated by Mr Goh Chok Tong, Senior Minister of Singapore, and Mr Hoang Trung Hai, Deputy Prime Minister of Vietnam.

Ms Chong Siak Ching, President & CEO of Ascendas Pte Ltd, noted, “Singapore is one of Vietnam’s top trading partners and its second largest investor. Ascendas is proud to partner with Protrade to participate in the remarkable growth of this country. The Ascendas-Protrade Singapore Tech Park aims to set new standards in quality business space in this market. The new Park will incorporate the best features and lifestyle concepts from similar projects that Ascendas has done in Singapore, China and other markets in Asia.”

Mr Nguyen Van Minh, Chairman & CEO of Protrade Corp, said, “We are proud to be working with like-minded partners like Ascendas. With Ascendas’ track record and reputation for quality and international standards, we are confident that Ascendas-Protrade Singapore Tech Park will further strengthen the appeal of An Tay Industry and Service Complex as the leading township with a vibrant business lifestyle that can attract the best of skills in Vietnam.”

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