Hải Phòng industry powers up with new project from Indochina Kajima’s Core5 Vietnam
- Written by Telegraph Magazine
HAI PHONG, VIETNAM - Media OuReach Newswire - 4 November 2025 - Indochina Kajima, the joint venture between Indochina Capital and Kajima Corporation, and ITOCHU Corporation held a ground-breaking ceremony for Core5 Vietnam's second industrial project in Hải Phòng at Deep C 2 Hai Phong Industrial Zone.
The project will deliver approximately 80,000sq.m of world-class ready-built factory space for lease, with a handover expected in Q1/2027.
Core5 Hai Phong Phase 2 is an expansion of Core5's first project in Việt Nam, leveraging its strategic location only 20-25 minutes from Đinh Vũ port and Lạch Huyện Deep Sea port, 30 minutes from Cát Bi International Airport, and two hours from Hà Nội's central business district.
Enabling seamless logistics and convenient domestic and international travel, the project provides international standard accommodation for ready-built factories for lease with terraced and mezzanine designs, ranging from 2,994sq.m to 24,912sq.m. Each unit is equipped with necessary utilities connections, the latest firefighting and protection system, a depressed dock in an enclosed docking bay, 24/7 security, CCTV and Core5 Vietnam signature curved curtain wall office.
With sustainability embedded in the Core5 DNA, Core5 Hai Phong Phase 2 supports tenants' ESG strategies by following LEED Silver-certified green building design, with energy efficiency from construction to operations, full solar rooftop planned for the project, EV chargers available and well landscaped, designated health and wellness areas with greenery and water features to ensure wellbeing for all tenants and employees.
Core5 Vietnam offers a one-stop solution supporting tenants in market entry, supply chain study, pre-and-post licensing services, customisation of the leased area and in accounting and business development to ensure seamless business operations for tenants and partners.
The assets are also managed by Indochina Kajima's in-house facility management team, enabling timely response to maintenance issues, tailored solutions and added value based on long-term relationships and understanding of tenants' businesses, driven by exceptional local know-how.
At the ground-breaking ceremony, Indochina Capital Executive Chairman Peter Ryder said: "Our expertise in luxury hospitality and our attention to architectural excellence provide a signature value offering for Core5 industrial assets. Core5 Hai Phong Phase 2 is the next step in our journey of delivering a comprehensive, customisable solution for tenants looking for high-quality, sustainable, flexible property solutions for accelerated expansion and efficient business operations.
"From 2025 to 2030, Hải Phòng has plans to complete the development of international gateway ports at Lạch Huyện and Nam Đồ Sơn, while implementing a free trade zone linking seaports to road, rail and air networks, and both phases of Core5 Hai Phong, along with our Wink Hotel Hai Phong, will support the city in this path on becoming a modern international logistics hub."
Meanwhile, ITOCHU Vietnam General Director Kamikawa Tatsuya said: "The second phase of Core5 Hai Phong is also designed to provide flexible, high-quality rental factory spaces that meet the diverse needs of global enterprises as well as medium-sized and small companies. ITOCHU is a conglomerate engaged in a wide range of business fields, including the development and operation of Lạch Huyện Port.
"In the real estate sector, we have extensive experience in industrial properties both in Japan and overseas. Leveraging our comprehensive business expertise and global corporate network, ITOCHU will contribute to maximise the value of this project, supporting our tenants' business growth and generating new jobs as well as further economic and industrial development for Hải Phòng City."
Ready-built factories in Việt Nam have gained popularity recently, reflected in Core5 Vietnam's portfolio with projects in Quảng Ninh and Hai Phong Phase 1 fully leased, while Core5 Hung Yen remains at an 80 per cent occupancy rate.
In addition to Hai Phong Phase 2, Indochina Kajima is also developing a double-phased Core5 Phu Tho, and planning for Core5 Quang Ninh Phase 2 and Core5 Hai Phong Phase 3.
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About Indochina Kajima
In September 2016, Indochina Capital, a leader in Việt Nam's rapidly growing real estate, financial services and capital markets sectors, entered into a joint venture with Kajima Corporation, one of the biggest Japanese general contractors and real estate developers, to launch Indochina Kajima, a new real estate development platform in Việt Nam.
Indochina Kajima is fully committed to creating innovative real estate developments that build value for partners, clients and investors, while providing fulfilling opportunities for employees and enriching the communities in which the company operates. The firm has established a nationwide footprint with a focus on Hà Nội and surrounding northern provinces, central Việt Nam and HCM City.
Indochina Kajima has been developing properties worth a total of US$1 billion in Việt Nam. The company's current portfolio includes six operating Wink Hotels, plus another scheduled to open in 2026, spread across the country; three operating Core5 Vietnam factory for lease facilities in northern Việt Nam, with five more such facilities under development; Parc Hanoi, a Grade A office project in the capital city, and an ultra-luxury resort, Mandarin Oriental Bai Nom, in Đắk Lắk.
About ITOCHU Corporation
ITOCHU Corporation founder Chubei Itoh commenced linen trading operations in 1858. Since then, ITOCHU has evolved and grown over 160 years.
With approximately 90 bases in 61 countries, ITOCHU engages in domestic trading, import/export and overseas trading of various products such as textiles, machinery, metals, minerals, energy, chemicals, food, general goods, property, information and communications technology, and finance, as well as other business investments in Japan and overseas.
About Core5 Vietnam
Core5 Vietnam is a Việt Nam-based industrial real estate platform developed by Indochina Kajima Development Company focusing on the roll out of Class-A factory and warehouse for lease properties throughout the country's key markets. Headquartered in Hà Nội and with offices in HCM City and Đà Nẵng, Core5 Vietnam has a growing team of project management, leasing, and facility management professionals focused on delivering superior quality through all phases of the project life cycle.
