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.
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'.
No tenant disclosed. 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.