The authorities in Vietnam’s Ho Chi Minh City have granted Evolution DC VN HCMC a 50-year lease on about 4.96 hectares of land in the Saigon Hi-Tech Park for a $508 million data center project, invested by Singapore business.

The lease runs for 50 years, from March 30, 2026 to March 30, 2076, according to a decision of Ho Chi Minh City People’s Committee dated August 19. It was granted for the project registered under an investment certificate issued in March 2026. The land was leased without auction.

Evolution DC VN HCMC is backed by a Singaporean consortium comprising Hathor, Frontier, and Evolution Data Centers. The project has an investment of $508 million. With a designed capacity of 52 MW of IT load, it can provide large-scale data storage and cloud services.

The facility is in line with the developers’ plans to reach more than 30 percent renewable energy use and net-zero emissions by 2045.

Evolution Data Centers is a Singapore-based operator, founded in 2021 and backed by investors including Warburg Pincus and Abu Dhabi’s Zero Two.

Vietnam, Singapore firms to develop 2 data centers of $1B in HCMC