Business News

After more than four months of slowing down due to the COVID-19 pandemic, the property market in the south is regaining strength and there are optimistic signs of a recovery thanks to demand still exceeding supply.

Despite being hurt by the COVID-19 pandemic, Bac Giang province still achieved impressive results in investment attraction. The Bac Giang Industrial Zones Authority has prepared all favorable conditions to create motivations and development space to make the best investment environment for investors.

The COVID-19 pandemic outbreak in the past three months has almost frozen the property market in many provinces and cities and largely halted secondary property deals. Particularly, online orders are allowed in suburban apartment projects.

Bim Son City recently released a master plan for development along the Tam Diep River, with a focus placed on infrastructure and transport development in a bid to become a third-class urban area in Thanh Hoa province in 2025.

Thanks to the adoption of drastic COVID-19 prevention measures at ports, the volume of goods that passed through ports in the first eight months of the year increased by 18% year-on-year to 16.8 million TEUs, the Vietnam Maritime Administration said.

According to Nguyen Viet Quang, Hanoi Branch director of Ho Chi Minh City-based Yuanta Vietnam Securities JSC, real estate tickers make up 21.39 per cent of the total capitalisation of Vietnamese stock markets, second only to bank tickers.

Continuously leading in the development of housing, urban, and industrial real estate projects, investors from Singapore are also actively expanding into other segments such as warehousing, logistics, and brokerages in the Vietnamese market.

Manufacturers are buckling under the stress of attempting to operate with reduced staff numbers, or even house them at all as social distancing and domestic travel restrictions continue to make it difficult for industrial zones as well as developers in the leasing game.