Over 600 million USD of FDI poured into property in 5 months

Illustrative image (Source: VNA)

Hanoi (VNA) – Vietnam’s real estate market attracted over 600 million USD in foreign direct investment in the first five months of this year, according to the General Statistics Office.

The figure represented a nearly two-fold increase against the same period last year.

In the period, the market saw the participation of 1,859 new enterprises, up 72.8 percent in number and 43.8 percent in capital year-on-year.

Last year, Vietnam’s real estate sector lured about 1.3 billion USD, making up 10 percent of total FDI poured into the country.

According to the Vietnam National Real Estate Association, as of May, FDI in the market hit nearly 52.7 billion USD, with 65 percent of which, or 40 billion USD, being poured into resort projects.

The resort property is attractive to foreign investors thanks to the rising number of tourists to the country. During January-May, the country welcomed 5.2 million foreign arrivals, a year-on-year rise of 29.6 percent.

Not only foreign investors, many domestic groups are also investing in resort projects nationwide, including famous names such as FLC and VINGROUP, which own luxury resorts namely FLC Sam Son, FLC Quy Nhon, Vinpearl Nha Trang, and Vinpearl Phu Quoc.-VNA

VNA