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Industrial real estate market bouncing back with mega projects

The industrial real estate market, frozen over the past two quarters by the COVID-19 pandemic, is bouncing back with new and expanded projects.
Industrial real estate market bouncing back with mega projects ảnh 1Illustrative image (Source: baodautu.vn)
Hanoi (VNA) – The industrial real estatemarket, frozen over the past two quarters by the COVID-19pandemic, is bouncing back with new and expanded projects.

The recovery has been marked by the presence of megaprojects like one on infrastructure construction and business at the NhuanTrach Industrial Park in northern Hoa Binh province worth nearly 2.4 trillionVND (104.7 million USD).

Others include a similar project at the Tam ThangIndustrial Park in central Quang Nam province with an investment of morethan 768 billion VND, and those by Phat Dat Industrial Park Investment andDevelopment JSC (PDI) at the Cao Lanh Industrial Park in the Mekong Deltaprovince of Dong Thap with a combined capital of over 14.72 trillion VND.

Meanwhile, five industrial zones in Ho Chi Minh City,covering some 4,200ha, are expected to join the market this year, includingfour in Binh Chanh district.

In Hanoi, notable industrial real estate projects forthis year and 2023 include Quang Minh II, Thanh My-Xuan Son, Soc Son, Soc SonII, HANSSIP and Phung Xa industrial parks.

Headquartered in Singapore, SLP International officiallycommenced the construction of the first phase of the SLP Park Xuyen A in MyHanh Bac commune in Long An province's Duc Hoa district on February 24.

This is SLP's second project in Long An province andits third in Vietnam. The project's first phase is expected to be completedby the first quarter of 2023, with a total leasable area of about 84,000sqm.

“The demand for ready-built warehouses has alsoincreased. With our projects, including SLP Park Xuyen A, we intend to meetcustomers’ increasingly diverse warehouse demands and capitalise on the earlygrowth stages of Vietnam’s rapidly modernising logistics landscape," said JenkinChiang, CEO and founding partner of SLP.

Earlier, SLP partnered with its strategic partner GLPto launch GLP Vietnam Development Partners I, with an investment capacity of 1.1billion USD, one of Southeast Asia's largest logisticsdevelopment funds.

So far, SLP has acquired six development sites with atotal land area of approximately 860,000sqm, focusing on Vietnam's two largestmarkets, Hanoi and Ho Chi Minh City, according to Vietnam Investment Review.

Colliers Vietnam, which provides a complete range ofproactive integrated property services, forecasts that Binh Duong, Binh Phuocand Dong Nai provinces will be “hot spots” of the real estate market this yearthanks to their advantages in transport infrastructure and economic dynamism./.
VNA
#industrial real estate market #COVID-19 #Nhuan Trach Industrial Park #mega projects #Vietnam #VietnamPlus #Vietnam news
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