From initial footprints
Frasers Property Vietnam (FPV) is part of Frasers Property Group (the Group), a multinational investor-developer-manager of real estate products and services across the property value chain of close to S$48.9bil in total assets under management. The Group has real estate footprints across 20 countries and their significant Industrial & Logistics (I&L) business is more than S$15bil AUM across Australia, Europe, and South-east Asia (predominantly in Thailand, Vietnam and Indonesia).
In Vietnam, FPV currently operates over 300,000 sqm of built-up I&L space across Binh Duong, Bac Ninh, Hung Yen, and Quang Ninh. With a strong growth trajectory, FPV is on track to reach nearly one million sqm by 2028. Expanding beyond its I&L roots, FPV’s portfolio now includes premium commercial real estate, exemplified by Melinh Point. This Grade-A office building in District 1, Ho Chi Minh City, boasts views of Bach Dang Wharf Park and offers convenient access to numerous amenities, making it a preferred location for multinational corporations.
Melinh Point proudly stands as Vietnam’s first operational Grade-A office tower to achieve dual green certifications: LEED Platinum, the highest level from the U.S. Green Building Council (USGBC), and Green Mark Platinum from Singapore’s Building and Construction Authority (BCA).
FPV has also made a strong mark in the residential sector with Q2 Thao Dien, a high-end mixed-use development in the affluent heart of Thao Dien. Fully handed over to residents, the project now features active management of its commercial components, including Worc@Q2, a modern high-rise office tower recognized for its green building standards with the prestigious LEED Gold certification.
Toward a greener future
The challenge facing industry players is an intimidating one. Real estate contributes nearly 40 per cent of carbon emissions globally and accounts for over 70 per cent of any city’s emissions. The Group recognises its responsibility and the opportunity to positively impact sustainability efforts across the value chain. What is crucial to note is that the sustainability journey is a progressive one.
The Group embarked on its sustainability journey since 2006. Across the real estate lifecycle, they lead and act as a responsible investor, developer and manager. The Group committed to achieve net-zero carbon for the built environment, creating lasting shared value for people, planet and society as they are making progress on ESG (Environmental, Social, and Governance) on different fronts – from sustainable innovation to green certification and climate adaptation.
Frasers Property stands as the first Singapore Exchange (SGX)-listed company to make a full commitment to net-zero carbon emissions across Scopes 1, 2, and 3 by 2050. By 2030, the Group aims to have 100% GFA of new development projects, and 85% of its owned and asset-managed properties, be either green-certified or pursuing green certification.
The Group aims to install 215 MW of renewable energy capacity on their properties by 2030 (of which approximately 15 MW is targeted for Vietnam). To date, the Group has installed over 46 MW of solar power capacity.
One of the Group sustainability goals is to finance the majority of its new sustainable asset portfolios with green & sustainable financing by 2024. To date, the Group has secured approximately $15.1 billion in green or sustainability-linked loans and bonds. Frasers Property is one of the largest issuers of green & sustainable financing amongst SGX companies.
In Vietnam, FPV is the first real estate company to have its targets approved by the Science-Based Targets Initiative (SBTi). FPV’s representatives play a key role in shaping green building standards by serving on three of the six Technical Advisory Councils of the Vietnam Green Building Council (VGBC).
Green practices in real estate projects
FPV is driving innovative solutions for an effective and sustainable energy transition, supporting Vietnam’s ambitious Net-zero goal to create lasting positive impact.
Industrial Service Centre (ISC) is a first-of-its-kind in Vietnam, FPV builds ISC in their every I&L development, where offer a diverse range of amenities to enrich the industrial life. Notably, the ISC at BDIP Premium Industrial Park has achieved EDGE Advanced certification for its sustainable green initiatives.
FPV is actively implementing comprehensive sustainable energy solutions across its developments. One key initiative is the installation of rooftop solar power systems, which help tenants reduce electricity bills while improving production efficiency. FPV has committed to using 100% LED lighting in all public areas, contributing to energy savings and a more environmentally friendly workplace. EV charging stations have been installed at its industrial sites to support the transition to green transportation. In addition, FPV has adopted an intelligent energy management system powered by AI-driven automation, enabling continuous monitoring and optimal coordination of energy sources from both solar and the national grid.
FPV’s I&L portfolio reflects a strong commitment to sustainable development through a range of prestigious international certifications. Industrial Centre Dong Mai (Phase 1, Quang Ninh) is LEED Gold certified. In Phase 1 of Industrial Centre Yen Phong 2C (Bac Ninh), the ready-built factories have achieved LEED Gold, and the ready-built warehouses have achieved LEED Silver. BDIP Premium Industrial Park (Binh Duong) holds EDGE certification for its built-to-suit solutions and ISC, while Eco Logistics Center (Binh Duong) is LEED certified. These certifications underscore FPV’s consistent application of top-tier global standards in green industrial development.
FPV’s commitment to sustainability extends beyond its green developments to include a focus on employee well-being. They also actively engage in community engagement, organise environmental awareness campaigns, and encourage sustainable living practices. These initiatives help strengthen FPV’s reputation while making a meaningful contribution to local community development.
“Vietnam needs to develop industrial facilities that adhere to green production standards. This is no longer just a trend, but a fundamental requirement for future sustainable development. This shift not only helps businesses lower operating costs but also fosters a more productive work environment for employees” – Mr. Truong An Duong, General Manager, Industrial and Residential, Frasers Property Vietnam.
Dung Nguyen
