Singapore's Sembcorp gets 4.5-ha land in Ho Chi Minh City for $480M data center
Ho Chi Minh City has leased nearly 4.5 hectares in the Saigon Hi-Tech Park to Starmason JSC to build a hyperscale data center, under a land use term running to 2076.
Sembcorp Development, a subsidiary of Singapore-based Sembcorp Industries, has acquired a 4.5-hectare plot in Ho Chi Minh City for $480 million to build a data center. The land is located at lot T9, adjacent to La Xuan Oai Street and roads D4 and D7 in Tang Nhon Phu Ward. The project received its first investment registration certificate on March 27.
Starmason, the Vietnamese partner, will pay the land rent in a single lump sum, exempt from rent for the project's duration if it meets the incentive conditions. The land will only be used for the stated purpose, and the company must secure funding and meet the construction timeline. Failure to comply with the terms will result in repayment of waived rent and penalties.
Sembcorp has operated in Vietnam for three decades and is developing the data center as its first in the country. The facility will initially have a 60 MW IT load, expandable to 90 MW, catering to AI, cloud computing, big data processing, high-performance computing, and digital infrastructure services. The project is part of four hi-tech projects worth $1.23 billion handed land use certificates by Ho Chi Minh City in late April.
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