Evolution DC VN HCMC (VN02) is a data center project in Thu Duc (SHTP), Vietnam, operated by Evolution Data Centres. It is at the land and permitting stage. It is planned for 52 MW of IT load.
Latest change on record: entered the record as land and permitting in April 2026. Record last checked against its sources on 20 October 2026.
Next gate to watch: Power arranged.
Build odds is ArusGrid's reading of the public record, not a forecast, a rating or advice. It counts the gates this project has passed in public sources. Private progress does not show, a passed gate can be undone, and projects that pass every gate still stop. The method has not yet been tested against outcomes. How it works.
How Vietnam approves, powers and taxes data centers is on Data center rules in Vietnam.
HCMC metro holds 10 active projects with 722 MW of planned IT load between them, and Evolution DC VN HCMC (VN02) ranks 6th by planned capacity. Of those, 2 are operational, 1 is under construction, 5 are at the land and permitting stage and 2 are announced only. Published colocation vacancy in HCMC metro was 34.8% as of June 2026, on 33 MW of operational colocation capacity as counted by Cushman & Wakefield. Vacancy excludes hyperscaler self-build.
Evolution DC has 3 projects elsewhere in the dataset tracked by ArusGrid, including Evolution TH02 Bangkok, Evolution PH01 Manila (Gateway Business Park, General Trias) and Evolution DC / Central Pattana Bangkok. It sits on the Saigon Hi-Tech Park alongside CMC Hyperscale DC SHTP, FPT Fornix HCM02, Gaw Capital Project Vespa and StarMason Data Centre Campus. Named funding comes from Evolution Data Centres, Hathor and Frontier on the equity side. No user of the capacity is on the public record as of 2026-10-02, after a check of operator, landlord, contractor, regulator and lender documents. Most colocation leases are confidential, so this says nothing about occupancy.
The stage was recorded as at the land and permitting stage in April 2026. The money on record is US$508.78m as of April 2026, a government approval ceiling.
Grid power for a large industrial user in Vietnam costs about US$0.073 per kWh as of July 2026, the country figure ArusGrid applies where a site has no published rate. The US export control position for advanced AI chips in Vietnam, as of 27 September 2026, is recorded as “Licence required as enforced (Country Group D:1), no named authorisation found”. ArusGrid holds 10 public sources for this project, the latest dated 24 September 2026, and last checked the record on 20 October 2026.
Construction or financing is evidenced, or several independent signals agree. The rules are fixed and published on the Methodology page.
The IRC filing describes it as serving cloud computing, AI and big-data processing; Uptime Tier III+ targeting Tier IV; 52MW modern greenfield by an international hyperscale-focused operator (Evolution also builds a 69MW PH campus and a 52MW TH facility). No liquid-cooling spec or GPU tenant, so 'likely'.
Nothing found in the public record. This describes the record, not the company, and it is not evidence that access was sought or denied. Criteria are published on the Methodology page.
Licence required as enforced (Country Group D:1), no named authorisation found · Licence required as enforced (Country Group D:1), no named authorisation found (2026-09-27) source
Checked on 2026-10-02. No user of this capacity is on the public record. ArusGrid read the operator's releases, the landlord's and contractors' exchange filings, regulator and lender documents and interconnection records. Most colocation leases are confidential, so this says nothing about occupancy.
An approval figure is an incentive ceiling. It often covers a first phase and can exclude land or IT equipment.
No published price band exists for Vietnam, and ArusGrid does not estimate from the regional benchmark alone. What was searched is listed on the Colo prices page.
All projects in HCMC metro · All projects in Vietnam · All Evolution DC projects · All projects at the land and permitting stage · Data center rules in Vietnam · Full directory