Mapletree Business Centre, Mapletree’s first office development with Grade A specifications in Vietnam, is opened by Singapore’s Prime Minister Mr Lee Hsien Loong (centre), along with Vietnam’s Deputy Prime Minister Mr Trinh Dinh Dung (right). Mapletree’s Chairman Mr Edmund Cheng (left) gave an opening speech. (Photo credit: Ministry of Communications and Information)

HO CHI MINH CITY AND SINGAPORE – Mapletree Investments Pte Ltd (“Mapletree” or “the Group”), a leading real estate development, investment and capital management company, is pleased to announce the official opening of Mapletree Business Centre, its first office development in Vietnam. The completion of Mapletree Business Centre marks the second phase of precinct transformation at the 4.4-hectare Saigon South Place Complex located in the affluent District 7 of Ho Chi Minh City (“HCMC”). Guest-of-honour Singapore’s Prime Minister Mr Lee Hsien Loong graced the opening ceremony with Vietnam’s Deputy Prime Minister, Mr Trinh Dinh Dung at the office development in HCMC.

Mapletree Business Centre is a 17-storey office tower with 28,384 square metres (“sqm”) of gross floor area and is designed to international Grade A specifications. The premium office tower has attracted strong leasing interests from many global and local corporations, and is  home to companies including Standard Chartered Bank, Uniben, Far Eastern Polytex and SCC UK. The successful tenancy demonstrates Mapletree's established track record as an office developer and space provider in the region.

Saigon South Place Complex mixed-use project is master-planned and developed by Mapletree in phases. The first phase was a joint venture with Saigon Co.op — SC VivoCity, a shopping mall with 64,250 sqm of gross floor area which opened in April 2015. An Oakwood-branded serviced apartment and a high-rise residential block RichLane Residences are on track for completion by end 2017. There are also plans for two more office towers in the precinct.

Mr Edmund Cheng, Chairman of Mapletree, said, “Tapping on our rich experience in rejuvenating the HarbourFront and Alexandra precincts in Singapore, we aim to create a work-live-play environment by combining lifestyle, office and residential at Saigon South Place Complex. We are honoured to have Singapore’s Prime Minister Mr Lee Hsien Loong visit and officiate the opening of Mapletree Business Centre. This signifies the contribution of Saigon South Place Complex in an urbanising HCMC.”

Mr Hiew Yoon Khong, Group Chief Executive Officer of Mapletree, said, “Mapletree entered Vietnam more than 12 years ago and has grown from one logistics project into one of the largest Singapore real estate companies in Vietnam by capital investment. Today, Mapletree owns and manages more than S$1.2 billion worth of mixed-use, office, retail, industrial, logistics, residential and serviced apartment assets in Hanoi, Ho Chi Minh City, Binh Duong and Bac Ninh. We would like to thank our strategic partners such as Saigon Co-op. Vietnam presents an exciting investment opportunity for us because of its strong economic fundamentals, such as a young and industrious population, a burgeoning middle income group as well as a stable increase in foreign direct investments. We are exploring Vietnam further as we view the country to be a key market for Mapletree.”

At the opening ceremony this morning, Singapore’s Prime Minister Mr Lee Hsien Loong, Vietnam’s Deputy Prime Minister Mr Trinh Dinh Dung and Mapletree’s Chairman Mr Edmund Cheng unveiled the plaque of Mapletree Business Centre and toured Co.opXtra, a hypermarket set up by Saigon Co.op and Singapore’s NTUC FairPrice at SC VivoCity.

Mapletree Business Centre is developed and managed by Mapletree Vietnam Management Consultancy Co., Ltd. Its quality office space comprises features such as large column-free floor plates, raised floors, a three-metre high ceiling and an all-glass façade for lighting optimisation, pushing the boundaries in office development in Vietnam. The office tower is designed to meet the office space requirements of global corporations from various industries ranging from IT and R&D, to the backroom operations of the banking and financial services sector.

The completion of Mapletree Business Centre marks the second phase of precinct transformation at the 4.4-hectare Saigon South Place Complex located in the affluent district 7 of Ho Chi Minh City. (Photo credit: Mapletree Investments)

Guest-of-honour Mr Lee Hsien Loong (centre) and other VIPs of the event from left to right (Photo credit: Mapletree Investments) : Mr Cheah Kim Teck, Director of Mapletree, Ms Catherine Wong, Singapore's Ambassador to the Socialist Republic of Vietnam, Mr Chan Chun Sing, Singapore Minister in the Prime Minister's Office, Mr Trinh Dinh Dung, Deputy Prime Minister of the Socialist Republic of Vietnam, Mr Lee Hsien Loong, Prime Minister of the Republic of Singapore, Mrs Lee Hsien Loong, Mr Edmund Cheng, Chairman of Mapletree, Dr Mohamad Maliki Bin Osman, Singapore Minister of State, Ministry of Defence & Ministry of Foreign Affairs and Mayor of South East District, Mr Chua Tiow Chye, Deputy Group Chief Executive Officer of Mapletree

Mr Edmund Cheng presents a token of appreciation to Singapore's Prime Minister Mr Lee Hsien Loong and Vietnam's Deputy Prime Minister Mr Trinh Dinh Dung. (Photo credit: Ministry of Communications and Information)