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

Illustrative image (Source: VNA)

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

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

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

Last year, Vietnam’s real estate sector lured about 1.3billion 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 ofwhich, or 40 billion USD, being poured into resort projects.

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

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

VNA