Eco-industrial zones in Vietnam number over 400, and other stories

For PropertyGuru’s real estate news roundup, Vietnam now has more than 400 eco-industrial zones, with the demand for this segment expected to grow. In other news, a Philippine lawmaker urged the Land Registration Authority (LRA) to initiate forfeiture proceedings on the real estate assets held by illegal Philippine Offshore Gaming Operators (POGOs). Lastly, ST Telemedia Global Data Centres (STT GDC) announced a USD3.2 billion investment in India.

Over 400 eco-industrial zones recorded nationwide in Vietnam

A survey conducted by the real estate agency Savills Vietnam reveals that the country now has more than 400 eco-industrial zones, with the demand for this segment expected to grow.

Thomas Rooney, who manages the firm’s industrial services team in Hanoi, observed that most current industrial projects are still developed under traditional models, with limited incorporation of sustainable design solutions. Transforming a conventional industrial zone into an eco-friendly one is not straightforward due to the significant costs involved and the need for thorough consideration by the government regarding the legal framework.

The cost of building a green industrial zone is typically around 30 percent higher than that of a traditional zone, Rooney explained in VietnamPlus. Therefore, additional incentive policies and credit support for investors are necessary to help alleviate the initial financial burden.

PH government agency urged to start forfeiture of real estate assets of POGOs 

A party-list lawmaker urged the Land Registration Authority (LRA) to initiate forfeiture proceedings on the real estate assets held by illegal Philippine Offshore Gaming Operators (POGOs), as well as the family of dismissed Bamban mayor Alice Guo.

In a statement in PNA, Puwersa ng Bayaning Atleta (PBA) Rep. Margarita Nograles said these landholdings are in direct violation of the Philippine Constitution, which prohibits foreigners from owning land in the country.

She said foreign entities and individuals, including those involved in POGO operations, have been exploiting legal loopholes to acquire property.

ST Telemedia to add 550MW of data centre capacity in India

ST Telemedia Global Data Centres (STT GDC), headquartered in Singapore, announced an SGD4.17 billion (USD3.2 billion) investment in India.

The aim is to expand its data centre capacity by 550MW, nearly tripling its IT load over the next five to six years. It will help meet the demand for digital infrastructure, driven by the surge in data consumption, cloud computing, digital transformation, and the adoption of AI applications.

STT GDC’s president and group CEO, Bruno Lopez, said in iTnews Asia, “Prime Minister Modi’s vision for Digital India has paved the way for opportunity; today the India digital economy’s growth rate of almost three times overall GDP growth is putting the country on pace to achieve a USD1 trillion digital economy by 2027-2028.”

The Property Report editors wrote this article. For more information, email: [email protected].