The launch of Spectrum Hưng Yên signals a deepening Singapore-Vietnam partnership and a strategic push into Vietnam’s booming manufacturing corridor.
Singapore-based Soilbuild International has broken ground on a new industrial development in northern Vietnam, marking a significant expansion of its regional footprint and reinforcing investor confidence in the country’s manufacturing and logistics sectors.
The Spectrum Hưng Yên project, located 36 kilometres from Hanoi in the Clean Industrial Park of Hưng Yên province, spans 14.45 hectares and is designed to meet the evolving needs of global supply chains. The first phase will deliver ready-built factories across 74,225 square metres of land, with a gross floor area of 52,000 square metres. Completion and handover are targeted for the first quarter of 2026.
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The total capital commitment for the project stands at USD 60 million, with USD 34 million allocated to phase one. The development is expected to bolster foreign direct investment (FDI) inflows into Hưng Yên, which attracted over USD 2 billion in FDI last year, particularly from electronics, textiles, and automotive component sectors.
Ben Ding Khoon Yew, General Director of Soilbuild International Vietnam, said the decision to invest in Hưng Yên was driven by the province’s strong leadership, robust infrastructure, and investor-friendly policies. “After the success of Spectrum Nghe An, we’re excited to launch our next chapter in Vietnam,” he said.
The groundbreaking ceremony was attended by ambassadors, government officials, and industry leaders, including Singapore’s Ambassador to Vietnam, Mr Jaya Ratnam. “The Spectrum Hưng Yên project reflects the strong and growing economic partnership between Singapore and Vietnam — a clear testament to investor confidence in Vietnam’s long-term potential,” Ratnam said.
The project integrates green building principles and modern architecture, aligning with Soilbuild’s commitment to sustainable development. The company was recently recognised with the ‘Excellence in Green Strategy’ award at the Vietnam Industrial Property Forum (VIPF) 2024.
Founded in Singapore, Soilbuild Group has nearly five decades of experience in real estate development and management. Through its international arm, the company is now extending its industrial expertise across Asia, with Vietnam emerging as a strategic growth market.
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