Vietnam has emerged as a popular destination for industrial property projects as increased labour costs, trade disputes and COVID-19 prompt global manufacturers to vary their supply chains throughout Asia, according to CBRE.
Ho Chi Minh City’s administration has approved a policy of compensation and resettlement for households in a 4.3ha area located outside the original boundary of the Thu Thiem new urban area project in the city’s District 2.
Industrial park infrastructure development companies continue to do well amid the COVID-19 pandemic, and the industrial property sector is expected to thrive since Vietnam is considered among the most attractive investment destinations post-pandemic.
With COVID-19 and trade tensions driving the shift of production lines from China to Southeast Asia, Vietnam, in particular, seems to have emerged as an attractive destination for investors and manufacturers alike, experts have predicted.
While most of the realty segment has struggled during the COVID-19 pandemic, agricultural land is still a hot investment as more people want to return to rural areas for a more environmentally-friendly life.
Authorities in the Mekong Delta city of Can Tho held a meeting with municipal departments and agencies on March 18 to discuss the disbursement of public investment for key local works in 2019 and to launch their 2020 disbursement plan.
While there are few, if any, signs of the real estate bubble bursting in 2020, the Ministry of Construction said that land prices could increase in some areas.
Vietnam’s fiscal deficit, including principal repayments, would come in at 6.6 percent of GDP this year and next year, up from 5.9 percent in 2018, Fitch Solutions Macro Research forecast.
The Ministry of Construction has green-lighted Kien Giang province’s proposal to suspend the master plan to develop Phu Quoc Island into a special administrative-economic zone (SEZ).
The domestic real estate market in the second half of this year is not expected to witness significant changes in price due to stability in supply, according to experts.
The real estate market in Long Thanh district in southern Dong Nai province, site of the proposed new airport, has entered an upward spiral following the National Assembly Standing Committee's passage of a resolution to dissolve and alter the administrative boundaries of six communes on May 29.
Property speculation and a lack of roads and facilities such as hospitals, schools and shopping malls have led to a number of so-called “deserted towns” in real estate hotspots in Ho Chi Minh City.
The real estate sector saw 840 new enterprises established in the first two months of this year, 5.3 percent of the country’s total new firms during the period.
Ho Chi Minh City’s State budget collection topped 378.5 trillion VND (16.4 billion USD) as of December 31, 2018, or 100.47 percent of the estimate and marking a 8.65 percent increase year-on-year, Chairman of the municipal People’s Committee Nguyen Thanh Phong told a local conference on January 3.
The management of land areas previously allocated to the State-run agriculture and forestry farms needs reviewing to avoid disputes and losses for the State, according to experts.
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