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Investors upbeat about Vietnam’s industrial property market
Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space.
The market showed signs of recovery in the third quarter with increases in both supply of warehouse and rental prices in the south. Some 92,000 square meters of ready-built factories and 174,400 square meters of ready-built warehouses were launched, up 2% and 3%, respectively, from the previous quarter.
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Van Trung industrial park in Bac Giang province. |
The net absorption of industrial land during July-September was 83 hectares, up 14.7% against Q2. Long An, Ba Ria – Vung Tau and Binh Duong provinces emerged as bright spots in investment as they lured various enterprises operating in different industries.
Knight Frank held that the development of new industrial parks is expected to enhance the South's attractiveness to investors.
In the North, leasing prices for ready-built warehouses averaged 5 USD per square meters per month, up 0.6% quarter-on-quarter and 3.4% year-on-year, reflecting the growing demand for modern and high-standard industrial space.
Bac Ninh has been a hotspot for industrial property leasing, boasting a strategic location and robust infrastructure. The first phase of the Industrial Centre Yen Phong Expansion is under construction while KTG Industrial Yen Phong have lured tenants from various sectors.
In the meantime, BWID ESR Nam Dinh Vu industrial hub in Hai Phong city added more than 70,000 square meters of warehouses to the market.
Despite a surge in supply, the northern industrial zones recorded high occupancy rates, averaging about 90%.
It is positive to see continued construction of ready-built factories, enhancing investment choices when considering Vietnam a destination to start or expand operations. Landlords are competing with each other which invariably creates a good environment for occupants and encourages growth.
The range of products now available is significant and includes developments with environmental accreditation which brings Vietnam more in line with global supply chain requirements, said Alex Crane, Managing Director of Knight Frank Vietnam.
BAC GIANG - The Vice Chairman of Bac Giang Provincial People's Committee (PPC) Phan The Tuan on October 11 chaired a working session to deploy the Implementation Plan for the investment, construction and trading project of infrastructure of Chau Minh - Bac Ly - Huong Lam Industrial Park (Hiep Hoa) in the first phase (Project).
BAC GIANG – The Hoa Phu Industrial Park in Hiep Hoa district, Bac Giang province, has attracted numerous companies to establish production facilities. To create a favourable and safe environment for investors, the provincial police have supported these businesses in developing a model for a secure industrial park, yielding positive initial results.
BAC GIANG - The first phase of Yen Lu Industrial Park (IP) infrastructure investment and business project has a scale of 377 hectares.
Prime Minister Pham Minh Chinh on October 4 urged businesspeople to carry forward their pioneering role in optimising opportunities generated by international integration and the Fourth Industrial Revolution.
BAC GIANG - The northern province of Bac Giang now has 9 industrial parks (IPs) attracting hundreds of thousands of workers. The high vehicle and commuter density during rush hour causes more risk of congestion and accidents. To ensure traffic safety and order, the police force coordinates with local authorities and related units to deploy many solutions.
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