CMIA Capital Partners has signed a Memorandum of Understanding (MOU) with Ho Chi Minh City for the development of a 1,018-ha mixed-use township in the Trung An Commune of Cu Chi District, Ho Chi Minh City, Vietnam.
The Ho Chi Minh City Agri Food-Tech Eco Township will be a new integrated regional urban centre. It will have an industry focus on food science and technology, including food processing and manufacturing, product development, quality assurance and quality control, research, and regulation.
The value of the project is estimated at US$ 1.1 billion. CMIA Capital Partners would lead the investment in, and Surbana Jurong would be the development manager of, the project.
CMIA Capital Partners is a private equity firm headquartered in Singapore, with a 20-year track record of investing in Asia. Surbana Jurong is a consultancy company focusing on infrastructure and urban development.
The new township will be home to 100,000 residents, have a 200-ha food science and technology industrial park and a myriad of recreational spaces and amenities. Residents will be able to live, work and play, all within the township.
In addition, the development is expected to create stable jobs for more than 20,000 employees. It will uplift the region’s GDP per capita towards the US$8,500 by 2025 target set by the Ho Chi Minh City People’s Committee.
Nina Yang, CEO of Surbana Jurong – SJ CityGlobal, the development management arm of Surbana Jurong, said, “Surbana Jurong is able to harness our unique experience and expertise in master development to plan, design and implement large-scale urbanisation projects. Some of these projects include the New Clark City in the Philippines, Microsoft ZiZhu Campus in Shanghai, Heart of Bay Project in Shenzhen and the G4 City, adjoining Almaty City of Kazakhstan. We’re excited about partnering with CMIA Capital Partners to build a township and industrial park that enhance liveability and economic growth in Ho Chi Minh City.”