Industrial real estate pins hopes on FDI: Colliers
Industrial real estate in Vietnam will continue to attract foreign investors thanks to its affordability, Colliers Vietnam said in its latest report for the fourth quarter of 2022.
The sector is expected to post significant growth in 2023 thanks to supporting industries such as car manufacturing, electronic components, and e-commerce, along with state investment policies in key economic regions, according to the property consultant.

Quang Chau Industrial Park in Bac Giang province, northern Vietnam. Photo courtesy of Kinh Bac City Development Holding.
The industrial real estate segment in Vietnam is considered a promising sector thanks to a healthy amount of foreign direct investment (FDI), Colliers added.
However, Vietnam attracted $27.72 billion in register FDI capital in 2022, down 11% year-on-year, indicating that the country currently has to compete for FDI with regional peers. Total registered capital includes newly registered capital, additional capital for operational projects, and capital contributions for stake acquisitions.
Indonesia lured $31 billion in the first nine months of 2022, up 46%, most of which came from enterprises developing the electric vehicle supply chain, according to Colliers.
The report pointed out that Vietnam, despite its advantages such as its proximity to China, low land rental prices, competitive energy costs, and skilled labor, might become less attractive in the electric vehicle and semiconductor industries, which could both shape the investment landscape in Southeast Asia.
"The scaledown and order delays or cancellations from developed markets will certainly affect foreign investors’ plans for Vietnam in the foreseeable future. Nonetheless, Vietnam is still considered a strategic alternative for supply chain diversification," said Chi Vu, senior manager, Industrial Services, Colliers Vietnam.
"The next challenges lie in how to attract and retain more high-quality investment capital, and an example is the puzzle of transforming the current industrial park model into a more sustainable one in the years to come," she added.
Ho Chi Minh City
Due to limited land and high rental costs, there were no new supplies of industrial parks in HCMC in Q4/2022. The average rental price reached $204/sqm/term, up by 2% quarter-on-quarter, while the occupancy rate increased from 91% to 92%.
Long An, a neighboring province, became vibrant thanks to policies to encourage investment and the region's potential. Four investment projects, with a total area of 1,770 hectares and investment capital of $962.52 million, were approved by the government. The future supply in this area is expected to become more dynamic.
Hanoi
No new supplies in Hanoi's industrial park market were recorded in Q4/2022. Infrastructure has been developing, creating connectivity and a push for the development of industrial parks in neighboring areas. The highest rental rates were recorded in Me Linh, Soc Son, and Long Bien districts.
In Q4/2022, the supply of industrial parks expanded to neighboring provinces. Notably, the Quang Chau Industrial Park expansion project in Bac Giang province was approved by the government with a scale of 90 hectares and a total investment of more than $42 million.
Additionally, the groundbreaking ceremony of an industrial park in Hung Yen province, with a total area of 143.08 hectares and an investment of $77 million, demonstrated the ability to attract capital in areas neighboring Hanoi.
Danang
As of Q4/2022, the Danang market had six existing industrial parks, covering an area of more than 1,082 hectares. Additionally, Danang currently had one high-tech park and one IT park.
Plans for future industrial parks are still at the stage of attracting investors and finalizing legal procedures. In the long term, Danang plans to establish a technical center to support the development of regional industries, stimulating the development of supporting industries.
Vietnam currently has 563 industrial parks under planning in 61 out of 63 localities, according to a report by the Vietnam Association of Realtors (VARS). Of this, 292 are operational with a total area of 87,100 hectares and 106 are under construction, covering 35,700 hectares.
The occupation rate of industrial parks nationwide is about 80%. The highest rate of 95% can be found in the southern province of Binh Duong.
The average lease rate is $100-120 per square meter and is forecast to continue rising with the high occupation rate in the southern region.
In the southern region, the figures are $180-300 in HCMC, $125-275 in Long An province, $100-250 in Binh Duong province, and $100-200 in Dong Nai province.
The rates are $90-120 for industrial parks in the north.
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