Saigon Asset Management (SAM) today announced the launch of SAM DigitalHub, a 50-ha (124-acre), 150-megawatt data center campus initiative with a targeted investment of up to US$1.5 billion. To kickstart the project, SAM has launched a US$300 million Vietnam Data Center Fund (VDCF), with the first closing expected by Q4 2025.
Recognizing the increasing demand for a robust data center presence in Vietnam, SAM has collaborated with key stakeholders to address critical challenges faced by international operators entering the market. Some major considerations include: Properly zoned land sites within an hour of major urban centers; reliable access to sustainable power sources and sufficient water for cooling; proximity to domestic and international airports; and connectivity to multiple telecommunications providers and reliable fiber networks.
SAM DigitalHub has taken all these into consideration to design a world-class data center campus in Vietnam in collaboration with Vietnam Singapore Industrial Park (VSIP), a flagship government-to-government (G2G) platform combining the strengths of Sembcorp, a leading energy and urban solutions provider, and Becamex, Vietnam’s foremost industrial and urban real estate developer.
Emphasizing the significance of this partnership, Nguyen Phu Thinh, CEO of VSIP, said: “VSIP is excited to partner with a leading investment firm like Saigon Asset Management (SAM) to jointly develop Vietnam’s first-of-its-kind Data Center Campus”
Addressing Challenges
SAM’s strategy involved securing a 50-ha site capable of rapid scaling to meet the surging demand from international operators and hyperscalers. Many potential locations have faced challenges such as non-compliant land zoning, inadequate infrastructure, limited lease tenure, and insufficient power capacity. The SAM-VSIP partnership managed to address these challenges.
Additionally, SAM DigitalHub is committed to integrating renewable energy solutions, ensuring a NetZero pathway for its clients, and targeting an initial renewable energy capacity of 50MW.
Louis Nguyen, CEO of SAM, highlighted the project’s significance, “The three key obstacles that have deterred our hyperscaler clients from entering Vietnam have been licensing, land, and power. By partnering with VSIP, we have successfully addressed these challenges, paving the way for the launch of our SAM Digital Hub.” He added: “We saw significant trends in the region where data center demand was shifting from Singapore to other countries in the region. Our goal was to collaborate with as many end customers and partners as possible to address their concerns and provide a seamless entry point.”
Colin Phua, Managing Director of PMX, acknowledged SAM’s capabilities, “The SAM team has assembled the ideal team of investor, landowner, and data center developer to make SAM DigitalHub a reality.” PMX, a SAM DigitalHub stakeholder, has successfully delivered or played key roles in delivering three projects totaling nearly 125MW IT load in the past two years in Malaysia. Building on this track record, PMX is currently engaged in the delivery of two additional hyperscale projects exceeding 100MW IT load, further reinforcing their experience, operational know-how, and customer engagement capabilities with both American and Chinese hyperscaler end-users.