Ho Chi Minh City (HCMC) has leased 4.5 hectares in its Saigon Hi-Tech Park to Starmason, a joint venture of Singapore’s Sembcorp Development and Vietnamese partner BB Holding, to build a $480 million hyperscale data center.

In a statement on Wednesday, the HCMC People’s Committee said it approved the lease for a term running to 2076. The Starmason complex has registered investment of $480 million, according to its investment approval given in March. The facility is designed for an initial 60 MW of IT capacity, expandable to 90 MW. It will serve AI, cloud computing, big-data processing, and high-performance computing.

The project can meet the Uptime Institute’s Tier III standard for data centers, with the aim of reaching the top Tier IV rating.

Starmason was incorporated in November 2025 to develop the project. Sembcorp Development, a wholly owned subsidiary of Singapore’s Sembcorp Industries, later acquired 49 percent of the venture alongside BB Holding.

Lee Ark Boon, chief executive of Sembcorp Development, said in March that Vietnam’s digital economy was accelerating on the back of cloud adoption and AI. Sembcorp said Starmason would look to expand its data-center development pipeline in Vietnam.

The lease adds to a rush of data-center investment in Ho Chi Minh City. The Saigon Hi-Tech Park drew more than $1.2 billion across four high-tech projects in early 2026, including two hyperscale data centers.

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