Many factors support industrial real estate market’s growth: Experts
The industrial real estate market is expected to boom thanks to good signs in foreign direct investment (FDI) and the resumption of international flights, predicted experts from Savills Vietnam.
Hanoi (VNA) – The industrial real estate market is expected to boom thanks to good signs in foreign direct investment (FDI) and the resumption of international flights, predicted experts from Savills Vietnam.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, in the first two months of 2022, Vietnam drew 5 billion USD in FDI, equal to 91.5 percent of the same period last year, but the figure is still encouraging given the spreading pandemic. Meanwhile, 2.68 billion USD worth of FDI was disbursed in the period, up 7.2 percent year on year.
The real estate sector came second in FDI attraction in the period with 1.52 billion USD, the agency reported.
Savills Hanoi Director Matthew Powell commented that compared to regional countries, Vietnam has more favourable conditions with more affordable real estate prices and many new projects that will increase supply in the future.
Competitive labour cost and the improved legal corridor are also among factors attracting investors to the country, he said.
Powell highlighted that many famous brands’ selection of Vietnam as their strategic destination has helped promoted FDI attraction and enhance the country’s prestige in the world arena.
He listed reasons making the industrial real estate in Vietnam attractive, including prices, large number of prestigious developers, labour resources, convenient transport network, easy access to international sea ports and airports, and incentives from the State.
Besides, political stability, abundant investment opportunities and support from the local government, as well as the country’s administrative reform efforts are also other factors luring investors to Vietnam instead of China, India or Thailand, according to Powell.
Savills experts forecast that the resumption of international flights from March 15 will lead to a boom in FDI attraction with many new projects, especially factories, logistics services and warehouses.
The industrial real estate market has seen the emergence of many data centre and logistics projects with high-quality investment, contributing to the promotion of Vietnam's reputation in the international arena. The resumption of international routes will make it easier for foreign-invested enterprises to access industrial park projects in Vietnam, which will greatly support the growth of this segment in 2022, they added./.
Up to 92 percent of the respondents said they intend to purchase a home in Vietnam and more than half of them wish to buy a home within the next two years, according to a study by property portal Batdongsan.com.vn, a member of Singapore-based property technology group Property Gurus.
This 1,000ha project features hundreds of entertainment and shopping facilities, as well as healthcare, sports, and meeting services, suitable for both short and long holidays, M.I.C.E tourism, and wellness tourism.
Vietnam will remain one of the best investment destinations for industrial real estate in Southeast Asia for the next 10 years and beyond, experts said at a recent conference in Ho Chi Minh City.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Illustrative image (Source: VNA) 
