In December 2023, Savills Industrial Services successfully supported an industrial real estate deal between Great King Group and Bao Minh Textile in Nam Dinh. Great King Group kickstart its market entry into northern Viet Nam with a 11,200 m2 ready-built factory project located in Bao Minh Industrial Park. This ready-built property will be primarily used for apparel and sleeping bag production for global clothing brands, such as The North Face, Patagonia, and Asics.
Great King Group, formerly known as Great King Garment, is a Taiwan manufacturer specialising in outerwear making and outdoor equipment. From employing around 150 workers in 1983, Great King Group now has 4,000 workers globally, with 3 production sites in China, Nicaragua and Myanmar. Looking for steady growth and long-term business operation, Great King Group decided to start its market entry strategy into Viet Nam.
After multiple discussions, Savills consultants is proud to have assisted Great King in choosing a ready-built facility best-suited for apparel and sleeping bag production. Developed by Bao Minh Textile, one of the biggest and most woven fabric producers in Nam Dinh, the 11,200 m2 ready-built factory is equipped with specialised machinery, ensuring all requirements needed for textile production.
Situated in Bao Minh Industrial Park, this location offers benefits of connectivity and accessibility, being within close proximity to key logistic hubs such as provincial roads (National Road No. 5, 37, 39, 21), passing by 6 cities and provinces (Quang Ninh, Hai Phong, Thai Binh, Nam Dinh, Ninh Binh and Thanh Hoa) and Ha Noi – Hai Phong Expressway. This strategic location offers businesses seamless transportation for moving goods. Bao Minh IP is also known as a textile production hub and is home to developed manufacturers such as Sumi Wirings (Japan), Sunrise Smart Shirts (Hong Kong), Yulun Textile (China) and Padmac (Germany).
Thomas Rooney, Senior Manager of Industrial Services at Savills Ha Noi, consulted the long-term deal. He stated: “It was a pleasure to support Great King Group on their entry into the Vietnam market. Our Savills team has holistically supported this investor since February 2023, scanning the market for opportunities in the northern, central and southern regions of the country. Although the tenant has an abundance of suppliers in the south, their decision to invest in the north was based on a number of competitive factors such as cost of labor, access to labor, rental rate per sqm, geographical positioning for export activities and the experience and support of Bao Minh Textile as a Landlord all proving too attractive to consider other opportunities.”
If you are looking for a suitable and cost-efficient industrial property, contact Savills Industrial Services for bespoke consultancy and solutions: https://industrial.savills.com.vn/contact/.