Vietnam Leases Land in Saigon Hi-Tech Park for $508M Singapore-Backed Hyperscale Data Center

Authorities in Ho Chi Minh City have granted Evolution DC VN HCMC a 50-year lease on approximately 4.96 hectares of land within the Saigon Hi-Tech Park, paving the way for a $508 million hyperscale data center project backed by Singapore investors. The lease, effective from March 30, 2026, to March 30, 2076, was formalized through a decision issued by the Ho Chi Minh City People’s Committee on August 19, according to official documents.

The land parcel, allocated without a public auction, supports a project registered under an investment certificate granted in March 2026. The facility is designed to deliver 52 MW of IT load capacity, positioning it to serve large-scale data storage and cloud computing demands in Vietnam’s rapidly expanding digital economy. The development is backed by a Singaporean consortium comprising Hathor, Frontier, and Evolution Data Centers, reflecting growing cross-border investment in Southeast Asia’s data infrastructure sector.

The project aligns with the developers’ stated commitment to sustainability, with plans to source more than 30 percent of energy from renewable sources and achieve net-zero emissions by 2045. This focus on green energy is increasingly critical as data center operators worldwide face pressure from regulators and clients to reduce carbon footprints, particularly in regions where power grids still rely heavily on fossil fuels.

Evolution Data Centers, the Singapore-based operator founded in 2021, is supported by prominent investors including Warburg Pincus and Abu Dhabi’s Zero Two. The company’s expansion into Vietnam underscores the country’s emergence as a preferred destination for hyperscale infrastructure, driven by favorable government policies, growing internet penetration, and rising demand for cloud services from both domestic enterprises and global technology firms.

The lease agreement marks a significant step for Ho Chi Minh City’s ambition to position itself as a regional digital hub. Industry observers note that the project’s scale and international backing could catalyze further foreign investment in Vietnam’s data center market, which remains relatively underdeveloped compared to neighbors like Singapore and Malaysia. With the government actively promoting digital transformation, the new facility is expected to enhance local cloud capacity while creating opportunities for technology talent and related supply chain development in the region.