Want to be in the loop?
subscribe to
our notification
Business News
DEMAND FOR INDUSTRIAL LAND FOR RENT REMAINS HIGH
The demand for industrial land for rent in Vietnam will remain high this year thanks to policies promoting investment in the country, experts said.
Due to short supply, rental prices for industrial land are expected to continue to rise by an average of 8-20% year-on-year in 2023, depending on the region, according to a report by the SSI Securities Corporation.
Last year, industrial real estate rents rose by an average of 10% due to high demand, according to the report.
Trang Minh Ha, chairman of the North Stars Asia Company, said that in Vietnam, industrial real estate leasing has seen a hike in demand and rental prices, especially for logistics and warehousing.
The industrial land-for-rent market is likely to remain strong over the next 12 months, she added.
Demand for industrial land has surged as the occupancy rate in industrial hubs has reached almost 100%, she said.
Many ready-built warehouses, factories and logistics and data centres are being built in industrial parks (IPs) across the nation, she added.
The average rent for industrial land in the southern region was 159 USD per square metre in the last quarter of 2022, up 3% over the previous quarter and 10% year-on-year, according to global real estate services firm Cushman and Wakefield.
The highest rent in Ho Chi Minh City was 300 USD per sqm. The occupancy rate increased to 92% from 91%. The average rent in Binh Duong and Long An provinces was 180 USD.
According to the Ministry of Planning and Investment, Vietnam has 292 industrial parks with a total land area of 87,100ha and 106 more are under construction.
They are home to some 10,000 domestic companies and 11,000 foreign-owned firms that have invested over 340 billion USD.
Vietnam continues to be an appealing destination for industrial real estate investors, according to Cushman and Wakefield.
The firm attributed this to the country’s stable growth rate, an export-oriented economy, a young labour force, investment incentives, a strategic location and a positive economic outlook.
Source: VIR
Related News
VIETNAM ECONOMY INVESTMENT
VIETNAM EYES 8% GDP GROWTH IN 2025
The State Bank of Vietnam (SBV) has been tasked with closely monitoring global and regional economic developments and adjusting monetary policies to align with shifts in major economies. The directive emphasizes reducing lending rates, managing deposit rates at commercial banks, and ensuring credit flows remain uninterrupted in early 2025.
HOT NEWS
GOVERNMENT MEMBER FOR 2021-2026 TERM
The 2021-2026 government term was recently consolidated after the 8th session of the 15th National Assembly. It consists of 27 members, including the Prime Minister, five Deputy Prime Ministers, and 21 ministers and heads of ministerial-level agencies.
HOT NEWS
EXCLUSIVE OFFER FOR HKBAV MEMBERS
Minimum order: 1 box (10 gift boxes per box; 6 gift bags per box)Free shipping on orders over 2 million VND (nationwide delivery across Vietnam)Volume discounts available for large orders
VIETNAM ECONOMY INVESTMENT
TOTAL FDI REGISTERED IN VIETNAM HITS 31.4 BILLION USD IN JANUARY-NOVEMBER
As of November 30, 2024, the total newly registered capital, adjusted capital, and capital contributions or share purchases by foreign investors in Vietnam reached nearly 31.4 billion USD, up 1% increase compared to the same period last year.
TECHNOLOGY
QUANG TRI TARGETS 6,000 MW WIND POWER CAPACITY BOOST
The central province of Quang Tri is seeking the Government’s approval to expand its wind power capacity by an additional 1,500-2,000 MW for onshore projects and 2,600-4,000 MW for offshore projects, according to the Vietnam News Agency.
VIETNAM ECONOMY INVESTMENT
HCMC’S RETAIL SALES REACH NEARLY VND568 TRILLION
HCMC’s retail sector has shown a notable recovery this year, with total retail sales of goods nearing VND568 trillion, an 11% uptick compared to the previous year, according to the HCMC Department of Industry and Trade.This year marks the second consecutive year the city has implemented its market stabilization program, with businesses playing a pivotal role in maintaining stable prices and ensuring a steady supply of goods.
Events Sponsors
