HANOI, Vietnam, Nov. 8, 2024 /PRNewswire/ -- The One Destination officially announced an investment agreement with Singapore's Terne Holdings, a multi-sector investment group, and BTS Bernina Private Equity Fund, an Asia-focused regulated mutual fund. Under the agreement, the joint venture arrangement of BTS and Terne Holdings will hold a 30% stake in The One Destination.
The One Destination is the developer of the Haus Da Lat project. The company is a leader in developing ESG real estate in Vietnam, actively engaged in numerous ongoing projects nationwide, and maintains a substantial land reserve. The project spans 5 hectares and has a total investment of VND 1.700 billion (~ USD 68m). It is in a prime area by the serene Xuan Huong Lake, one of Vietnam's most picturesque natural lakes and a symbol of Da Lat.
According to the plan, The One Destination will build Vietnam's first ESG-standard real estate complex on the last remaining prime land in Da Lat's city center. Designed by renowned Japanese architect Kengo Kuma, Haus Da Lat is expected to become a heritage symbol for the 130-year-old city and position Vietnam on the global ESG real estate map.
The decision of the international partners, to select Da Lat as their first investment destination in Vietnam highlights the city's unique appeal. The partners emphasize that in a tropical country like Vietnam, Da Lat - a highland city with year-round cool weather surrounded by tranquil lakes, vast pine forests, magnificent waterfalls, and vibrant flower fields—is a natural masterpiece. This city, often called a "natural heritage," deserves real estate projects that reflect its value.
"We were captivated by Da Lat at first sight, and are proud to be one of the pioneering foreign investors in Da Lat" said the representative of BTS.
On June 20, 2024, the Ministry of Transport issued Decision No. 758/QD-BGTVT to upgrade Lien Khuong Airport to an international airport, igniting a boom in Da Lat's economy, tourism, and the entire Lam Dong province. In the first half of 2024, Lam Dong welcomed 5 million tourists, an increase of over 12%. By the end of 2024, the province is expected to receive 10 million visitors, including 550,000 international tourists. According to the 2030 plan, Lien Khuong Airport will expand to nearly 487 hectares and accommodate 5 million passengers annually, with flights from various countries worldwide.
ESG real estate is gaining traction in many developed countries and is expected to become a significant global trend in the next century. This is why the investors are partnering with The One Destination to launch a new era of ESG real estate in Vietnam, starting in Da Lat and expanding to other projects. With Vietnam's dynamic economy ranking among Asia's top, an average GDP growth of 6-7% annually, and a rapidly growing middle class expected to reach 40% of the population by 2030, the country's real estate market is poised for a significant boom in the ESG segment. Leading companies like The One Destination will have the advantage in shaping this trend. Haus Da Lat is highly valued for its ESG-compliant design, choice of materials, construction, and operations, and focus on the human factor, aligning with the ESG goals, creating long-term value for future generations.
Caroline Lee, Chairwoman of Terne Holdings, affirmed, "Together with The One Destination and BTS, we will create a heritage landmark for Da Lat, Vietnam. We are proud to be among the pioneering foreign investors working alongside Vietnam's real estate developers to build and preserve Da Lat in the face of the city's concrete overdevelopment".
Terne Holdings also stated that the investment in Haus Da Lat aligns with its ongoing ESG strategy. This strategy is based on practical, measurable actions and aligns with 12 United Nations' Sustainable Development Goals (SDGs).
"The best is often saved for last, and Haus Da Lat will be Vietnam's first ESG-standard landmark project, a heritage for Da Lat," said a representative from The One Destination. Five leading international brands are also expected to join forces to create a new icon for Da Lat.
Reference Information
The One Destination stands at the forefront of ESG real estate development in Vietnam. We strive to address environmental challenges, minimize our ecological footprint and enhance the local environment by employing sustainable building materials and energy-efficient technologies.
BTS Bernina Private Equity Fund is an open-end investment company whose size exceeding USD 368 million, with 60% invested in Asia. Over the past three years, the fund's performance has reached 71.9%.
Terne Holdings is a multi-sector investment enterprise based in Singapore focuses on investments in creating ecological spaces that preserve the beauty of nature, prioritize health, and build strong communities.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
The One Destination, together with a Singapore Investor and an Institutional Fund Collaborate to Build Vietnam's First ESG Real Estate Complex in Da Lat.
Variloom 3DP Filament and Print System Recognized as Part of Rip Curl's Mirage3DP Boardshort Innovating in Sustainable and Functional Design and Materials
MUNICH, Germany and PALO ALTO, Calif. and TOKYO, Dec. 3, 2024 /PRNewswire/ -- Moon Creative Lab, a venture studio that powers the creation of new businesses, today announced that its venture Variloom has won the ISPO 2024 Award as part of the Mirage3DP Boardshort. Developed with Rip Curl, Moon Creative Lab, and Bilio, the Mirage3DP shorts feature a 3D waistband for stability in the water, integrated panels for fit and ventilation, and a recyclable blend of bio-based TPU and wool for comfort and durability. Moon Creative Lab's Variloom 3DP system enables on-site, print-to-shape fabrication, reducing waste, lead times, and inventory, while promoting sustainable, customizable production close to consumers. Every year, the ISPO award honors the outstanding products of the sporting goods industry at its ISPO Show in Munich, Germany.
"Winning the ISPO award for our innovations in sustainable 3DP material, production, and design is an amazing honor, and we could not be more pleased to receive this recognition with our partners Rip Curl and Bilio," said Kaichi Yokoyama, Chief Executive Officer, Moon Creative Lab. "The Mirage3DP Boardshort made with Variloom's 3D-printable materials is breaking ground for unrivaled comfort, resilience, fit, and performance. We will continue to work closely with Rip Curl to give customers completely on-demand, customizable, and 100% 3D printed and circular products made from sustainable materials."
Variloom is transforming the fashion industry by creating new systems and processes to bring production closer to the consumer and make circularity a reality. Variloom's patent pending 3DP filament and print system balances softness, stretch and adaptable performance by utilizing bio-based TPU with carefully selected natural additives and fibers. The future of Variloom and 3D printing in soft goods offers on-demand, on-site, print-to-shape 3D fabrication that exponentially reduces production waste, lead times, product inventory, and dependence on offshore manufacturing by bringing customizable production closer to the consumer.
"Our Variloom patents cover a number of ways to produce 3D printed textiles that are flexible, soft to the touch, and wearable with adaptable performance," said Bethany Meuleners, venture lead, Sustainable Fashion, Moon Creative Lab. "The ISPO Award is a tremendous recognition of the work Moon, Rip Curl, and Bilio are doing in the area of sustainable and high-performance apparel and materials. We will be continuing to improve our capabilities and speed in our processes through innovations in revolutionary machinery to create and fully recycle these fabrics."
The MIRAGE3DP boardshort is scheduled for release in 2026.
About ISPO Award
Every year, ISPO honors the outstanding products of the sporting goods industry with the ISPO Award. Independent expert juries evaluate several hundred submissions (including those from non-exhibitors) according to well-founded criteria. This high-caliber selection is welcome guidance for the sports industry, helps specialist retailers make decisions when selecting the next product range, and supports consumers in choosing the optimal product for them. The ISPO Award has established itself as a sustainable seal of quality in the sports industry. ISPO Award - The best in sport.
About Variloom
Variloom is transforming the fashion industry by creating new systems and processes to bring production closer to the consumer and make circularity a reality. Variloom's patent pending 3DP filament and print system balances softness, stretch and adaptable performance by utilizing bio-based TPU with carefully selected natural additives and fibers. The future of Variloom and 3D printing in soft goods offers on-demand, on-site, print-to-shape 3D fabrication that exponentially reduces production waste, lead times, product inventory, and dependence on offshore manufacturing by bringing customizable production closer to the consumer. For more information, visit www.variloom.com.
About Moon Creative Lab
Moon Creative Lab was first established in 2018 as a venture studio to deliver human-centered new business creation for the Mitsui & Co., group. With offices in Palo Alto, USA and Tokyo, Japan, we have established a hands-on support system with global and diverse professional human resources, including designers, engineers, product managers, and people with entrepreneurial experience, to create new businesses that will have a positive impact on the world. Based on this experience, Moon has expanded its support for new business creation beyond Mitsui & Co., to external corporations and startup teams. We aim to help teams and organizations unleash their creative potential to transform bold ideas into ventures that will have an exponential impact on the world. Visit us at www.mooncreativelab.com.
Media Contact for Variloom:
press@variloom.com
Logo - https://mma.prnasia.com/media2/2446662/main_logo_L_Logo.jpg?p=medium600
Photo - https://mma.prnasia.com/media2/2571537/Variloom_Trademark_Small.jpg?p=medium600
Photo - https://mma.prnasia.com/media2/2571538/MIRAGE3DP_INT_EXT.jpg?p=medium600
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Moon Creative Lab Venture Variloom™ Wins ISPO 2024 Award in Collaboration with Rip Curl
Moon Creative Lab Venture Variloom™ Wins ISPO 2024 Award in Collaboration with Rip Curl
