Ho Chi Minh City authorities have granted a 50-year land lease to Evolution DC Vietnam HCMC for a $508 million hyperscale data center in the Saigon Hi-Tech Park. The project, backed by a Singapore-based consortium, will bring 52 megawatts of IT load capacity to a city racing to expand AI and cloud computing infrastructure.
Key Facts At A Glance
- Project: Evolution DC VN HCMC hyperscale data center
- Investment value: approximately $508 million (one source cites $508.8 million)
- Land area: nearly 5 hectares (4.96 ha) in Tang Nhon Phu ward, Saigon Hi-Tech Park
- Lease term: 50 years, running from March 30, 2026 to March 30, 2076
- Lease issued: by the Ho Chi Minh City People’s Committee, dated August 19, 2026
- IT load capacity: 52 megawatts
- Investor consortium: Hathor, Frontier, and Evolution Data Centers, all Singapore-based
- Technical target: Uptime Tier III+ standard, with a stated goal of reaching Tier IV certification
- Facility targeted to go live in Q4 2027, per one industry source
Ho Chi Minh City’s People’s Committee has issued a land-use decision granting Evolution DC Vietnam HCMC a 50-year lease on nearly five hectares in the Saigon Hi-Tech Park, clearing the way for construction of a $508 million hyperscale data center. The lease, dated August 19, 2026, covers land in Tang Nhon Phu ward and was granted without an auction of land-use rights or a competitive tender, following an investment registration certificate the Saigon Hi-Tech Park Authority issued for the project on March 30, 2026.
The project is backed by a consortium of Singapore-based investors comprising Hathor, Frontier, and Evolution Data Centers. Evolution Data Centers, founded in 2021 and headquartered in Singapore, has previously drawn backing from private equity firm Warburg Pincus and from Zero Two, a division of an Abu Dhabi sovereign wealth fund, according to industry trade coverage.
Capacity And Technical Specifications
The facility is designed for 52 megawatts of IT load capacity, positioning it as one of the larger data center projects announced in the Saigon Hi-Tech Park to date. It is being built to meet Uptime Institute’s Tier III+ technical standard, with developers stating an intention to eventually pursue Tier IV certification. The facility is intended to support large-scale data storage, cloud computing services, and Exabyte-scale storage infrastructure for businesses across Vietnam and the wider region.
Part Of A Broader Infrastructure Push
The Evolution DC project is one of several major data center developments concentrated in the Saigon Hi-Tech Park as Ho Chi Minh City positions itself as a regional digital-economy hub. Other projects in the pipeline at the same site include a data center backed by a consortium of BW Industrial Development, Warburg Pincus, and Digital Realty, and a separate proposal from Sembcorp and BB Holding valued at roughly $850 million with a planned 800-megawatt capacity. UAE-based G42 has also proposed a roughly $2 billion AI-focused hyperscale facility for the district. Competition for data center investment is intensifying across Vietnam as AI computing and cloud infrastructure demand accelerates.