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Sunday, November 27, 2022

Industrial real estate sector maintains growth momentum

The Saigon Times

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HCMC – The growth prospect of the country’s industrial real estate market is bright, with ample new supply in the third quarter of 2022.

The real estate market saw a substantial increase in supply between July and September due to the introduction of many new projects, according to the Housing and Real Estate Market Management Agency under the Ministry of Construction.

Occupancy of industrial land remains high, while the demand for industrial real estate rentals is expected to rise.

Particularly, industrial real estate has been offered to investors in many parts of the country, including the Son My Industrial Park in the coastal province of Binh Thuan and Soc Soc, Dong Anh and Phu Nghia industrial parks in Hanoi.

Each spans more than 300 hectares, with the Son My Industrial Park covering 1,070 hectares.

Industrial sector rental demand grew compared to the second quarter of the year, while rental prices jumped 5% over the same period.

The average occupancy rate in industrial zones stayed above 90% nationwide. The southern figures were slightly higher than those of the northern provinces.

According to data from the Ministry of Planning and Investment, the real estate industry placed second in foreign direct investment inflows with around US$3.5 billion, or 18.7% of the total.

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