Electrician

Ho Chi Minh City to develop specialised digital technology park. According to Su Ngoc Khuong, Senior Director of Investment at Savills Vietnam, infrastructure will become one of the key drivers shaping a new development cycle for the property market. Major transport projects are improving inter-regional connectivity and creating new growth poles along economic corridors. 3 giờ trước Ho Chi Minh City (VNA) - Stavian Digital Park (SDP), a large-scale specialised digital technology park dedicated to artificial intelligence (AI) and cloud computing, is set to be developed in Ho Chi Minh City, offering diverse connectivity with telecommunications operators and prioritising sustainable development. According to Cushman & Wakefield Vietnam, the project is being developed through collaboration among the Stavian Group, the US Trade and Development Agency (USTDA), Cushman & Wakefield and APTelecom. Covering an area of 300 ha, the project will integrate green and renewable energy into its power supply mix and connect to high-capacity international transmission infrastructure. SDP is designed to have access to international submarine cable systems with capacity of up to 200 Tbps, while its first-phase power capacity is expected to reach 300MW by 2030. The project will serve global cloud service providers, businesses, the Government's digital infrastructure, content delivery networks (CDNs), and AI workloads. A key component of the master plan is the integration of on-site solar power systems and renewable energy infrastructure. This will expand access to lower-carbon electricity while supporting global technology businesses in meeting increasingly stringent requirements on sustainable development and clean energy. Le Anh Dung, General Director of Stavian High-Tech Infrastructure JSC, a member of the Stavian Group, said SDP is oriented to become a concentrated digital technology park and a "One Stop Shop Platform", capable of meeting demand for next-generation transmission infrastructure and energy infrastructure, including new and renewable energy. He said the platform is designed to deliver reliable, uninterrupted and highly resilient services to investors developing hyperscale data centres for AI and cloud computing, as well as businesses and other users of large-scale digital infrastructure, while generating long-term economic and strategic value. The Stavian Group hopes that investment in advanced technology infrastructure capable of connecting and expanding in line with international standards will contribute to enhancing Vietnam's competitiveness, position and role in the regional and global digital ecosystem, he said. He added that Cushman & Wakefield's global capabilities and understanding of the Vietnamese market would provide the necessary databases, analysis and implementation framework to advance the project to subsequent stages. Hoang Nguyet Minh, General Director of Cushman & Wakefield Vietnam, said the company had conducted a comprehensive pre-feasibility study for SDP, noting that the study is an important step towards shaping the project as a well-planned development capable of supporting Vietnam's digital economy development goals and meeting its evolving infrastructure needs. The project is being developed as the Vietnamese Government accelerates digital infrastructure development, towards the goal of raising the digital economy's share of GDP to at least 30% by 2030 under Resolution No. 57-NQ/TW of the Political Bureau on breakthroughs in science and technology, innovation and national digital transformation. According to Cushman & Wakefield's study, the data centre market in Ho Chi Minh City is experiencing positive growth. In the first half of 2026, data centre capacity under development reached 68MW, more than twice the city's existing operational capacity./.

Cushman, newmark win REBNY Retail Deal of the Year Awards. Team behind Urban Outfitters' Fifth Avenue downsizing take home top award Urban Outfitters wanted to shrink its Fifth Avenue footprint and needed to find a space that would still work with its multi-level store layout. The solution - a 15,000-square-foot lease at 575 Fifth Avenue - earned Cushman & Wakefield's Sean Moran, Patrick O'Rourke, Catherine Merck and Steven Soutendijk the Most Ingenious Retail Deal of the Year award on Wednesday at REBNY's 2025 Retail Deal of the Year Awards at Vornado's 2 Penn Plaza, where dealmakers gathered to celebrate. The brokers masterminded a move from Urban Outfitters' 23,000-square-foot, two-level corner store at 521 Fifth Avenue into the smaller space on the corner of 47th Street. In order to seal the deal, they promised to build a new escalator connecting the lower level of the retail condo to the street level. The space, which previously served as part of L'Oréal's headquarters, was only connected to the building's atrium, a common area subject to a thicket of zoning and city-planning requirements. "To modify those spaces can be time-consuming and costly and challenging," Moran said. "That's something in retail we don't normally get involved with." The Cushman team spent almost two years securing approvals to remove the escalators connecting the atrium to the lower level. They also won approval to open an elevator door on the opposite side of an existing one, allowing it to access the store directly and serve as Urban Outfitters' ADA-compliant elevator. The brokers negotiated a one-year extension at Urban Outfitters' existing Fifth Avenue store, giving them time to finish construction. Then they encountered another complication. The building was being sold as the lease was being negotiated. Real estate investment firms Sovereign Partners and HudsonPoint Capital bought the property from Beacon Capital Partners and MetLife for $378 million in April. That left the Urban Outfitters deal in jeopardy if the new owner decided it wanted the retail space delivered vacant. (They ultimately decided to honor the lease.) "That was another layer of approval that we rarely, rarely see," Moran said. Newmark's Jeffrey Roseman and Drew Weiss took home the Most Impactful Retail Deal of the Year award for brokering luxury watchmaker Audemars Piguet's 12,000-square-foot flagship at 785 Fifth Avenue. And Daija US COO Jeffrey Kleiner won the Retail Development/Project of the Year award for his work on the Waldorf Astoria New York redevelopment.