Frasers Property and GELEX Infrastructure propose new joint venture

Frasers Property and GELEX Infrastructure have entered a conditional agreement to establish the joint venture, under which Frasers Property will acquire a controlling 51 per cent stake.

The partnership is expected to combine Frasers Property’s international development expertise with GELEX Infrastructure’s local market knowledge to capture growing real estate demand in Vietnam, including in the residential segment.

Leaders of Frasers Property, GELEX Group, and GELEX Infrastructure at the partnership signing ceremony.

According to Edwin Tan, deputy CEO, Frasers Property Vietnam and managing director, Industrial & Logistics (Southeast Asia), the partnership with GELEX Infrastructure is built on a long-standing relationship and proven track record, including multiple premium industrial developments in Vietnam.

“This proposed joint venture marks the next phase of our strategic collaboration, expanding into real estate asset classes aligned with our long-term development goals,” said Tan. “Consistent with Frasers Property’s emerging markets strategy, we aim to deliver high-quality developments that support urban and economic growth in Vietnam and the region.”

Luong Thanh Tung, general director of GELEX Infrastructure, said that more than a strategic collaboration, this partnership unites expertise and ambition to set a new benchmark for the industry.

“By leveraging our combined strengths, we are raising the industry standard while paving the way for sustainable, long-term growth,” said Tung.

The proposed joint venture’s first residential project is ANmaison, being developed in Haiphong. Developed to international standards, ANmaison occupies a rare land parcel within the city’s historic urban core at 226 Le Lai Street, one of Haiphong’s longest-established central thoroughfares.

ANmaison incorporates master planning, Indochina-inspired architectural elements, and sustainability-focused construction approaches. The project is being developed alongside a planned 120-hectare riverside park in Haiphong, which is expected to enhance green space connectivity for residents.

ANmaison, a premium residential project in Haiphong, marks an extension of the Frasers Property–GELEX Infrastructure collaboration.

Also in the pipeline for the proposed partnership is a large-scale integrated residential development project to be developed in Dong Nai province. Spanning a total area of 113 hectares, the project aims to address the rising demand for high-quality living, commercial, and service spaces.

Located at a key infrastructure nexus in eastern Ho Chi Minh City, the project will benefit directly from regional transport connectivity and proximity to Long Thanh International Airport, positioning it to capture rising demand for premium urban developments in Vietnam’s southern growth corridor.

To date, Frasers Property and GELEX Infrastructure have jointly developed five industrial and logistics projects in Vietnam, spanning about 100 hectares across key investment hubs including Bac Ninh, Quang Ninh, and Hung Yen provinces.

These developments have attracted significant market interest and set a new benchmark for Vietnam’s industrial sector under Frasers Property’s Premium Estates concept. The entire industrial and logistics portfolio has achieved international accredited certifications in sustainability, directly addressing growing requirements among their global tenant profile for future-ready assets.

Building on their established collaboration, the latest proposed joint venture between Frasers Property and GELEX Infrastructure reflects a long-term growth strategy based on complementary strengths and operational experience. By combining international development expertise with local market insight, the partnership aims to support sustainable urban development and contribute to Vietnam’s evolving property landscape.

As Vietnam continues to urbanise, and attract long-term investment, the collaboration underscores the role of responsible developers in supporting resilient and liveable urban growth. Frasers Property and GELEX Infrastructure remain focused on growing alongside Vietnam’s economy and contributing positively to the continued development of the country’s real estate sector.

Frasers Property is a Singapore-headquartered, SGX-listed integrated real estate investor, developer, and operator, with total assets of approximately $31.2 billion as of September 2025. The group operates across industrial and logistics, commercial, retail, residential, and hospitality segments in Asia-Pacific, Europe, and China, with Vietnam projects including Melinh Point, Worc@Q2, Q2 Thao Dien, and green-certified industrial facilities in key manufacturing hubs.

GELEX Infrastructure, part of GELEX Group, focuses on infrastructure investment and operations across real estate, utilities, and construction materials. The group’s broader portfolio includes industrial manufacturing through GELEX Electric and brands such as Viglacera, CADIVI, and THIBIDI.

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