Business News

Property firms are gearing up to tap opportunities from the post-pandemic recovery of the real estate market, which was predicted to soon get back on its feet.

Despite the changes to the Law on Housing and foreign ownership caps five years ago, real estate developers now show an increasing demand to revise regulations and increase the cap even more, to up to 50 per cent. However, revisions will be tough to put into practice, even if the suggestion is recognised by the government.

Industrial park infrastructure development companies continue to do well amid the Covid-19 pandemic, and the industrial property sector is expected to thrive since Việt Nam is considered among the most attractive investment destinations post-pandemic.

Vietnam-Korea Techno Park proposed to the Dong Nai provincial government to build a 300-hectare industrial park. The project will be developed in three stages with $150 million in total investment and is expected to lure $2-3 billion of investment within six-nine years of operation.

The People's Committee of Quang Tri province has approved in principle for Dong Nam ICD JSC to develop a logistics centre, expected to cost more than 2 trillion VND (86 million USD), in the East South Quang Tri Economic Zone.

Gaw NP Industrial, the latest development in Vietnam funded by global real estate private equity firm Gaw Capital Partners, is actively pushing its investment process in order to be operational in the first quarter of 2021.

Although the Covid-19 pandemic has hit Vietnam’s real estate market hard, the demand for investment and real estate ownership is still high, promising a rapid recovery for the whole market in the future.

Real estate developers are proposing that Vietnam eases existing limits on foreign ownership to facilitate investment and reduce inventory of premium apartments.