CTP plans to acquire SLP’s Vietnam industrial property assets
The proposed acquisition includes an operating platform and development land, with more than 55 employees set to transfer to CTP.
CTP is proposing to acquire SLP’s Vietnam portfolio and operating platform, covering seven completed properties and six development sites. The company said the transaction would expand its Asian operations, but completion depends on agreed conditions being met, including regulatory clearance.
The completed buildings provide 504,000 square metres of net lettable area. The development land could accommodate around 585,000 square metres more, taking the combined portfolio to approximately 1.1 million square metres. SLP is owned by Ares Management Corporation.
According to CTP, the existing properties were finished between 2022 and 2024 and produce stabilised annual net operating income exceeding US$23 million. Building work has begun at two sites intended to provide 140,000 square metres of Grade A industrial and logistics premises. The entire development pipeline is expected to generate an additional US$33.8 million in annual net operating income once completed.
The portfolio is split between northern Vietnam, with 59 per cent, and the south, with 41 per cent. Customers include J&T Express, Shopee Express and Nippon Express, and the platform has a leasing network in China.
More than 55 staff working in development, leasing, asset management and property management are set to transfer to CTP. The company began operating in Vietnam in early 2026 after buying two development sites with capacity for around 210,000 square metres of net lettable area. Its local team will retain the SLP brand.
