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Industrial property segment sees rising FDI despite new COVID-19 outbreak

Despite a new outbreak of COVID-19 in Vietnam, the industrial property segment saw positive signs with new industrial zones established and key industrial projects beginning operations, according to a report by Savills Vietnam.
Industrial property segment sees rising FDI despite new COVID-19 outbreak ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Despite a new outbreak ofCOVID-19 in Vietnam, the industrial property segment saw positive signs with newindustrial zones established and key industrial projectsbeginning operations, according to a report by Savills Vietnam.

This year has witnessed new M&A deals and improvementin industrial land supply. The largest manufacturing projects in the first halfof 2021 came from Hong Kong (China) and Singaporean investors that targetednorthern Quang Ninh and Bac Giang provinces.

Vietnam’s FDI inflows rose by 3.8 percent year-on-year to10.5 billion USD in the first seven months of 2021, with processing andmanufacturing taking the lead, raking in 7.9 billion USD, or 47.2 percent ofthe total, data from the Ministry of Planning and Investment showed. The realestate came third with registered FDI of 1.16 billion USD.

“By region, the North received the majority of newlyregistered manufacturing investments with a substantial 1.97 billion USD,representing a 64 percent share,” said John Campbell, Manager of SavillsVietnam’s Industrial Services. The South followed with 728 million USD (23percent), while the Central region attracted 395 million USD (13 percent).

In terms of provinces, Bac Giang received the highestamount of newly registered manufacturing capital with 589 million USD, closelyfollowed by Quang Ninh with 569 million USD, and Bac Ninh with 222 million USD.Representing the South, Binh Duong came in fourth with 208 million USD.

For foreign investors, Hong Kong invested the highest amount ofmanufacturing FDI during the period with over 852 million USD, accounting for a27 percent market share. Singapore was in the second place with 655 million USD (21percent), followed by China with 549 million USD (18 percent), and the Republicof Korea with 330 million USD (11 percent).

John said the largest manufacturing projects in the firsthalf of the year were from Jinko Solar and Fukang Technology from Hong Kong andSingapore investing 498 million USD and 270 million USD in Quang Ninh and BacGiang, respectively.

Regarding new projects, Logos Property’s 81,000-sq.mproject in the Vietnam-Singapore Industrial Park (VSIP) Bac Ninh 1 is expectedto begin operation in the fourth quarter of 2021. New player in the market, KCNVietnam Group JSC, acquired a significant 250-hectare land plot with aninvestment of 300 million USD, aiming to develop premium, sustainable factoriesand warehouses for rent in Vietnam with a national portfolio spanning acrossBac Giang, Hai Phong, Hai Duong, Dong Nai and Long An.

He also noted that various new M&A deals have beeninked this year. Boustead Projects Co. Ltd., for example, singed an options agreement forthe proposed acquisition of 49 percent stake in KTG & BousteadIndustrial Logistics JSC. If successful, the partnership will consist of 13real estate seed assets amounting to 141 million USD in gross asset valuecovering about 840,000 sq.m of land and about 550,000 sq.m of gross leasablearea, he added.

ESR Cayman Limited, the largest Asia-Pacific-focusedlogistics real estate platform, and BW Industrial Development JSC (BW), theleading logistics and industrial real estate developer and operator in Vietnam,have entered into a joint venture to develop 240,000 sq.m in My Phuoc 4Industrial Park near Ho Chi Minh City. The partnership marks ESR’s entry intoVietnam, expanding the group’s Asia-Pacific footprint in the high-growthSoutheast Asia region./.

VNA
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