European logistics and industrial real estate company CTP NV has agreed to acquire the Vietnam portfolio and operating platform of South-East Asia Logistics Partners (SLP) for approximately $500 million. Announced on November 9, 2026, the proposed CTP acquisition marks a major step in the company’s expansion into Asia as international businesses look for alternatives to China for manufacturing and supply chain operations.
The deal includes seven existing logistics and industrial properties and six development sites across northern and southern Vietnam. The expansion comes as companies increasingly adopt the China Plus One strategy, which involves diversifying production and supply chain operations across multiple countries rather than depending on a single market.
CTP Vietnam Acquisition Covers Seven Existing Properties
The proposed CTP deal involves acquiring 100% of SLP’s Vietnam portfolio and operating platform from Ares Management Corporation, a global investment management firm.
The portfolio includes seven completed properties with approximately 504,000 square metres of net leasable area. It also includes six development sites that could provide another 585,000 square metres of industrial and logistics space.
Once fully developed, the combined portfolio could reach approximately 1.1 million square metres.
The existing properties generate more than $23 million in annual stabilized net operating income. Construction has already started at two development sites, which are expected to deliver around 140,000 square metres of additional industrial and logistics space.
The proposed acquisition will also bring more than 55 employees across development, leasing, asset management, and property management into CTP’s operations.
Why Vietnam Is Attracting Global Logistics Investment
Vietnam has become an important destination for international manufacturers and logistics companies seeking to diversify their operations.
Businesses are increasingly considering Vietnam because of its manufacturing capabilities, competitive operating costs, developing infrastructure, and access to regional markets.
CTP CEO Remon Vos said that many existing clients are looking beyond China for additional production facilities as part of their supply chain diversification strategies. Vietnam offers an opportunity to support these businesses while expanding CTP’s international presence.
The country also benefits from growing demand across manufacturing, e-commerce, and third-party logistics. These industries require modern warehouses, industrial facilities, and distribution networks to support their operations.
CTP Deal Strengthens Access to Northern and Southern Vietnam
The acquired portfolio provides access to two important industrial regions.
Around 59% of the portfolio is located in northern Vietnam, offering connections to manufacturing centres around Hanoi, Bac Ninh, and Hai Phong. The remaining 41% is in the south, providing access to industrial and consumer markets around Ho Chi Minh City.
Existing tenants include logistics and delivery companies such as J&T Express, Shopee Express, and Nippon Express.
These established tenant relationships could help CTP strengthen its position in Vietnam while supporting businesses that need reliable industrial and distribution facilities.
CTP Expands Beyond Europe Through Its Vietnam Strategy
CTP operates logistics and industrial parks across 12 European countries. Vietnam represents its first major step towards building a broader presence outside Europe.
The company initially entered Vietnam in early 2026 by acquiring two development sites with the potential to deliver approximately 210,000 square metres of leasable space.
The latest CTP acquisition builds on that initial investment by adding existing properties, development opportunities, local employees, and an established operating platform.
It also supports the company’s longer-term ambition to develop its international logistics and industrial real estate business.
What the Acquisition Means for Vietnam’s Logistics Market
The proposed $500 million transaction highlights the growing importance of Vietnam in global supply chain planning. As manufacturers explore additional production locations, demand for modern industrial facilities and logistics infrastructure is expected to remain an important part of the country’s development.
For CTP, the acquisition provides an opportunity to work with existing international tenants and support their future expansion plans.
The transaction remains subject to agreed conditions, including regulatory approvals, and is expected to be completed in the coming months.
CTP’s move reflects a wider shift in global business investment, where supply chain flexibility, regional access, and modern logistics infrastructure are becoming increasingly important for international growth.
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