Bright prospects for Vietnam’s industrial real estate market

06:00 | 19/03/2022 Property Follow Ven.vn on

(VEN) - The Vietnam Competition and Consumer Authority under the Ministry of Industry and Trade published a report on competition in the industrial real estate sector in Vietnam, indicating fierce competition among regions and bright prospects for the market.

bright prospects for vietnams industrial real estate market

Vietnam’s industrial real estate market is booming

High occupancy rate in the north

The north currently has about 63,500ha of planned land for 238 industrial zones and clusters, which are operational or in the process of site clearance and construction. The year 2021 marked a boom of the industrial real estate market in the north with high occupancy rate due to the region’s foreign investment magnets, such as Bac Giang, Quang Ninh and Bac Ninh provinces.

In the northern region, industrial real estate was mainly concentrated in the northeast. Quang Ninh Province took the lead with 11,300ha of industrial land, equivalent to 18 percent of market share. Industrial zones in the provinces of Quang Ninh, Bac Ninh, Hung Yen and the cities of Hai Phong and Hanoi accounted for more than 50 percent of the region’s market share. This reflects the investment attraction of the industrial real estate market in coastal provinces and in the central areas thanks to transportation convenience.

Quang Ninh Province’s Hai Ha Industrial Zone was the largest one in the region with 4,988ha, corresponding to a market share of 7.91 percent. Quang Ninh Province’s Dam Nha Mac Industrial Zone ranked second with 3,710ha for a market share of 5.88 percent, followed by Hung Yen Province’s Ly Thuong Kiet Industrial Zone with 1,988ha.

Ca Mau Province is a new market for industrial real estate

High competition in the south

The south has about 400 planned industrial zones covering a total area of up to 109,000ha.

Binh Duong Province had the largest concentration of industrial real estate in the region, holding a market share of up to 13 percent, or 14,500ha. Industrial zones in the province also had the largest occupancy rate in the country at 99 percent. Industrial zones in the provinces of Binh Duong, Ba Ria-Vung Tau, Ca Mau, Dong Nai and Long An accounted for more than 50 percent of the region’s market share. All except for Ca Mau are located near Ho Chi Minh City and therefore attract manufacturing enterprises due to lower transportation costs.

The Nam Can Industrial Zone in Vietnam’s southernmost province of Ca Mau was the biggest in the south at 11,000ha, corresponding to a market share of 9.88 percent. Although Ca Mau is a new market for industrial real estate, it is engaging the interest of investors thanks to fast urbanization and transportation convenience. Kien Giang Province’s Kien Luong Industrial Zone and Dong Thap Province’s Song Hau Industrial Zone have the same scale of 3,200ha, equivalent to a market share of 2.87 percent.

According to the Vietnam Competition and Consumer Authority, the industrial real estate market in the south is extremely competitive, with no single business dominating the market.

Vietnam’s participation in free trade agreements is expected to serve as a lever for the development of the industrial real estate market in 2022.

Thanh Tam

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