CTP agrees $500m deal to buy Vietnam logistics platform
The proposed purchase would add seven operating properties and six development sites to CTP’s Vietnam business, giving the European developer an established local team and tenant base.
CTP has agreed terms to acquire the Vietnam portfolio and operating platform of South-East Asia Logistics Partners (SLP) for approximately US$500 million. The company announced the proposed transaction on 9 November. Completion remains subject to agreed conditions, including regulatory approvals.
The deal would give CTP a much larger operating position in Vietnam. It covers seven completed industrial and logistics assets with 504,000 square metres of net leasable area, plus six development sites with capacity for about 585,000 square metres. CTP says two of those sites are already under construction.
What the platform adds
CTP entered Vietnam earlier in 2026 by acquiring two development sites. The SLP transaction would add completed properties, an operating business and more than 55 staff across development, leasing and property management. CTP says the existing assets generate more than US$23 million in stabilised annual net operating income.
The portfolio is spread across Vietnam’s main industrial markets: 59% is in the north, near the Hanoi, Bac Ninh and Hai Phong manufacturing clusters, and 41% is in the south, around Ho Chi Minh City. Existing tenants include J&T Express, Shopee Express and Nippon Express, according to CTP.
For manufacturers and logistics providers, the proposed acquisition is a signal that an established European industrial-property operator is building a larger local network in Vietnam. CTP says some of its international tenants already operate in the country and want room to expand. The transaction would give it existing facilities and a development pipeline with which to serve that demand.
What happens next
The US$500 million figure is the approximate value of an agreed, proposed acquisition, not a completed investment. CTP expects completion in the coming months, subject to the transaction conditions. The planned development space and its projected income are also future outcomes, not current operating results.
For Vietnam’s industrial-property market, the immediate change is the prospect of a larger, integrated owner and operator. The commercial test will come after closing: whether CTP converts the added sites and tenant relationships into occupied space as the pipeline is delivered.
