First ESG real estate complex in Viet Nam to be built in Da Lat

The One Destination has announced a partnership with Singapore's Terne Holdings and the BTS Bernina Private Equity Fund to develop Viet Nam’s first ESG-standard real estate project in Da Lat.

The One Destination has announced a partnership with Singapore's Terne Holdings and the BTS Bernina Private Equity Fund to develop Việt Nam’s first ESG-standard real estate project in Đà Lạt.

Under the agreement, BTS and Terne Holdings will jointly hold a 30 per cent stake in the project.

The Haus Da Lat development, spanning five hectares by the picturesque Xuân Hương Lake, is set to become Việt Nam’s first ESG-compliant real estate complex. Designed by renowned Japanese architect Kengo Kuma, Haus Da Lat is expected to become a heritage symbol for the 130-year-old city and position Việt Nam on the global ESG real estate map.

The project aims to blend sustainable design with Đà Lạt’s natural beauty, positioning the city as a key player in global ESG real estate.

Đà Lạt, with its year-round cool climate, serene lakes, pine forests, and vibrant flower fields, is often referred to as Việt Nam’s 'natural heritage'. The city’s appeal, alongside the recent upgrade of Liên Khương Airport to international status, has attracted significant investment, including this joint venture.

“We were captivated by Đà Lạt’s unique beauty and are proud to be pioneering foreign investors here,” said a representative from BTS. The upgrade of Liên Khương Airport is expected to boost tourism to Đà Lạt, with Lâm Đồng Province anticipating ten million visitors by the end of 2024.

The Haus Da Lat project is aligned with Terne Holdings' ESG strategy, which focuses on sustainability and measurable impact, in line with the United Nations' Sustainable Development Goals (SDGs). The development is set to become a landmark for both Đà Lạt and Việt Nam’s growing ESG real estate market.

Chairwoman of Terne Holdings Caroline Lee, said: "Together with The One Destination and BTS, we will create a heritage landmark for Đà Lạt, Việt Nam. We are proud to be among the pioneering foreign investors working alongside Vietnam's real estate developers to build and preserve Đà Lạt in the face of the city's concrete overdevelopment."

ESG real estate is gaining traction in many developed countries and is expected to become a significant global trend in the next century. This is why the investors are partnering with The One Destination to launch a new era of ESG real estate in Việt Nam, starting in Đà Lạt and expanding to other projects. With Việt Nam's dynamic economy ranking among Asia's top, an average GDP growth of 6-7  per cent annually and a rapidly growing middle class expected to reach 40 per cent of the population by 2030, the country's real estate market is poised for a significant boom in the ESG segment.

Five leading international brands are also expected to join forces to create a new icon for Đà Lạt. — VNS

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