{"id":25912,"date":"2026-09-18T18:06:51","date_gmt":"2026-09-18T11:06:51","guid":{"rendered":"https:\/\/b-company.jp\/?p=25912"},"modified":"2026-09-18T18:06:51","modified_gmt":"2026-09-18T11:06:51","slug":"industrial-real-estate-market-in-vietnam-landscape-overview-and-business-opportunities","status":"publish","type":"post","link":"https:\/\/b-company.jp\/ja\/industrial-real-estate-market-in-vietnam-landscape-overview-and-business-opportunities\/","title":{"rendered":"\u30d9\u30c8\u30ca\u30e0\u306e\u7523\u696d\u7528\u4e0d\u52d5\u7523\u5e02\u5834\uff1a\u5e02\u5834\u74b0\u5883\u306e\u6982\u8981\u3068\u30d3\u30b8\u30cd\u30b9\u6a5f\u4f1a"},"content":{"rendered":"

\"B&Company-Vietnam<\/a><\/p>\n

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B&Company is the first Japanese company specializing in market research and investment consulting in Vietnam since 2008.<\/em><\/p>\n

This article is written in English and automatic translation is used for other language versions. Please refer to the English version for accurate content. Although we strive to ensure the accuracy of the original information, please check separately for each information. Interpretations and future prospects are the personal opinions of each researcher. <\/p>\n<\/div>\n\t

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Industrial real estate regulations are clear. Land remains state-owned, and foreign investors secure long-term land use rights through leases. High-tech and export projects also benefit from tax incentives and preferential land rents. Growth is supported by state-owned developers and foreign capital and is being driven by the transfer of manufacturing functions from China+1 and demand for logistics and e-commerce. Major trends include expansion into neighboring provinces and the development of smart\/green industrial parks. Although there are challenges such as land acquisition, skilled labor, and interregional competition, the medium-term outlook remains favorable.<\/p>\n

Basic Statistics<\/strong><\/h3>\n\n\n\n\n\n\n\n\n
Indicator<\/strong><\/td>\nUnit<\/strong><\/td>\n\u00a02020<\/strong><\/td>\n\u00a02021<\/strong><\/td>\n\u00a02022<\/strong><\/td>\n\u00a02023<\/strong><\/td>\n\u00a02024<\/strong><\/td>\n<\/tr>\n
Industrial land area<\/td>\nThousand ha<\/td>\n\u00a073.6<\/td>\n\u00a082.6<\/td>\n\u00a0NA<\/td>\n\u00a098.6<\/td>\n\u00a089.8<\/td>\n<\/tr>\n
Industrial Park<\/td>\nNumber<\/td>\n\u00a0369<\/td>\n\u00a0397<\/td>\n\u00a0403<\/td>\n\u00a0414<\/td>\n\u00a0433<\/td>\n<\/tr>\n
Northern Industrial Park Land Lease Price<\/td>\nUSD\/m\u00b2\/Lease Term<\/td>\n\u00a0NA<\/td>\n\u00a0109<\/td>\n\u00a0120<\/td>\n\u00a0123<\/td>\n\u00a0133<\/td>\n<\/tr>\n
Southern Industrial Park Land Lease Price<\/td>\nUSD\/m\u00b2\/Lease Term<\/td>\n\u00a0NA<\/td>\n\u00a0151<\/td>\n\u00a0166<\/td>\n\u00a0173<\/td>\n\u00a0189<\/td>\n<\/tr>\n
FDI Inflows<\/td>\nBillion USD<\/td>\n\u00a05.0<\/td>\n\u00a03.6<\/td>\n\u00a04.5<\/td>\n\u00a05.3<\/td>\n\u00a06.3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: National Statistics Office, Cushman & Wakefield<\/p>\n

Regulations<\/strong><\/h3>\n

All land belongs to the state, and foreigners cannot own land. Investors typically hold land use rights under leases of up to 50 years, which can be extended with approval, potentially allowing for longer terms. They can also own buildings and facilities constructed on leased land.<\/p>\n

In practice, foreign industrial park developers lease land from the state, build infrastructure, and then sublease plots or rent out completed factories and warehouses to tenants. Tenants sublease land from the developer or rent existing facilities, allowing them to construct and own their own factories or equipment on the plot. They handle their own investment approval (IRC\/ERC), environmental permits, construction permits (if building themselves), fire safety procedures, and utilities installation. If requirements are met, they can establish as an Export Processing Enterprise (EPE). The sublease period cannot exceed the remaining term of the industrial estate.<\/p>\n

Industrial parks and economic zones facilitate smooth entry for manufacturers because developers have already secured all land rights and approvals, making them the primary establishment method for foreign-invested manufacturing. Many developers are joint ventures with foreign capital (e.g., Amata, VSIP). Regarding taxation, the standard corporate income tax rate is 20%. However, projects meeting certain criteria such as high-tech, export-oriented, large-scale, or located within economic zones may qualify for preferential tax rates (e.g., 10\u201317% for a specified period), tax credits\/exemptions, import duty exemptions for machinery not locally producible, and reductions in land rent paid to developers.<\/p>\n

Market Overview<\/strong><\/h3>\n

The industrial real estate market has shown steady growth and even expanded during the pandemic period. This boom stems from strong FDI inflows and shifts in global supply chains. Stable economic growth and trade agreements are attracting manufacturers of electronics, textiles, machinery, and more. Notably, the “China+1” strategy for production diversification is driving multinational corporations to establish factories in Vietnam. Major electronics players like Samsung, LG, and Foxconn are expanding production, creating demand for millions of square meters of factory land.<\/p>\n

As of 2024, there are approximately 89,900 hectares across 435 industrial parks. Most investments are concentrated in key production hubs: Ho Chi Minh City, Dong Nai, Bac Ninh, Hai Phong, and Long An. The national average occupancy rate is around 80%, reaching 88-90% in major regions (northern and southern areas centered on Hanoi and Ho Chi Minh City)[1]<\/a>.<\/p>\n

Industrial Zone Area<\/strong><\/p>\n

Unit: Thousand ha
\n\"Industrial<\/p>\n

Source: Savills<\/p>\n

Vietnam offers relatively low industrial land costs and benefits from its central location within ASEAN. In 2024, average prices are 133 USD\/m\u00b2 in the North and 189 USD\/m\u00b2 in the South. The price gap between North and South has narrowed somewhat, with Haiphong and Hai Duong seeing particularly strong price increases[2]<\/a>.<\/p>\n

Since 2018, rental factories and warehouses have also been increasing[3]<\/a>. In 2024, the floor area of rental factories was 10.3 million m\u00b2 with an occupancy rate of 76%. Logistics and manufacturing warehouses totaled 7.7 million m\u00b2 with an occupancy rate of 77%. Driven by robust expansion in manufacturing, rents and occupancy rates are trending upward.<\/p>\n

Major Players<\/strong><\/h3>\n

The industrial real estate market includes state-owned developers and foreign investment companies. Below are some main industrial park developers\/operators.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
No<\/strong><\/td>\nCompany<\/strong><\/td>\nCountry<\/strong><\/td>\nEstablished<\/strong><\/td>\nHeadquarters<\/strong><\/td>\nOverview<\/strong><\/td>\n<\/tr>\n<\/thead>\n
\u00a01<\/td>\nBecamex IDC<\/td>\nVietnam<\/td>\n1976<\/td>\n\u00a0Binh Duong<\/td>\nVietnam’s leading state-owned industrial developer, formerly a regional trading company. Developed numerous industrial parks (e.g., My Phuoc in Binh Duong Province) and co-founded VSIP<\/td>\n<\/tr>\n
\u00a02<\/td>\nVSIP<\/td>\nSingapore<\/td>\n1996<\/td>\nBinh Duong<\/td>\nA joint venture where Becamex holds 49% and Singaporean capital (including Sembcorp) holds approximately 40%. Developed 11 large-scale industrial parks nationwide (including Binh Duong, Quang Ngai, Hai Phong, Bac Ninh, Hai Duong, and Nghe An)<\/td>\n<\/tr>\n
\u00a03<\/td>\nKinh Bac City Development (KBC)<\/td>\nVietnam<\/td>\n2002<\/td>\nBac Ninh<\/td>\nA private developer specializing in northern Vietnam. Key locations include Que Vo and Trang Due Industrial Parks (home to Samsung and LG factories) and Quang Chau Industrial Park (Bac Giang)<\/td>\n<\/tr>\n
\u00a04<\/td>\nViglacera (VGC)<\/td>\nVietnam<\/td>\n1974<\/td>\nHanoi<\/td>\nOperates over 12 industrial parks (approx. 4,000 hectares) including Bac Ninh, Thai Binh, Phu Tho, and Ha Nam. Samsung is a tenant<\/td>\n<\/tr>\n
\u00a05<\/td>\nAmata<\/td>\nThailand<\/td>\n1994<\/td>\nDong Nai<\/td>\nA major industrial park developer in Thailand, operating three eco industrial parks: Amata City Bien Hoa (Dong Nai), Amata City Long Thanh (Dong Nai), Amata City Ha Long (Quang Ninh)<\/td>\n<\/tr>\n
\u00a06<\/td>\nDEEP C<\/td>\nBelgium<\/td>\n1997<\/td>\nHai Phong<\/td>\nDeveloping a large-scale industrial and port-linked cluster spanning Hai Phong and Quang Ninh<\/td>\n<\/tr>\n
\u00a07<\/td>\nBW Industrial Development<\/td>\nVietnam<\/td>\n2018<\/td>\nHo Chi Minh City<\/td>\nA leading provider of factory and warehouse space in major provinces and cities (Hanoi, Hai Phong, Ho Chi Minh City, Dong Nai, etc.)<\/td>\n<\/tr>\n
\u00a08<\/td>\nWHA<\/td>\n\u00a0Thailand<\/td>\n\u00a02017<\/td>\nNghe An<\/td>\nInternational standard industrial park in the North Central region. Commencing with Phase 1 of the Dong Nam Economic Zone (498 hectares)<\/td>\n<\/tr>\n
\u00a09<\/td>\nGLP<\/td>\n\u00a0Singapore<\/td>\n\u00a02020<\/td>\nHo Chi Minh City<\/td>\nSpecializing in modern warehouses around Hanoi and Ho Chi Minh City. A major logistics real estate developer operating through its own Vietnam development fund.<\/td>\n<\/tr>\n
10<\/td>\nCore5<\/td>\n\u00a0Japan<\/td>\n\u00a02022<\/td>\nHanoi<\/td>\nProviding complete Class A factories and warehouses. First project commenced in Haiphong in 2022, expanding nationwide<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: B&Company Analysis<\/p>\n

Market Trends<\/strong><\/h3>\n

By 2024, industrial and logistics real estate attracted significant attention from foreign investors, achieving the highest transaction volume across all real estate sectors. In northern industrial parks, over 400 hectares of land were added due to expanded electronics and electric vehicle production. Meanwhile, the southern region saw approximately 265 hectares (growth was moderate due to limited available properties)[4]<\/a>. The rapid growth of logistics and e-commerce is also accelerating demand for warehouses and distribution centers. Cold storage and last-mile facilities grew at an annual rate of 25%[5]<\/a> . E-commerce growth has created a shortage of modern warehouse space (approximately 500,000 m\u00b2). Responding to this shortage, many logistics parks are planned for construction in major port cities.<\/p>\n

Another trend is the emergence of new industrial zones and models. While traditional manufacturing hubs remain in the south (e.g., Dong Nai, Binh Duong) and north (e.g., Bac Ninh, Hai Phong), investors are also focusing on Tier 2 provinces (e.g., Nghe An, Thai Binh, Dak Lak, Phu Tho). Land is inexpensive (industrial land in some central provinces costs 60-90 USD\/m\u00b2)[6]<\/a> , enabling the attraction of large-scale projects (e.g., Foxconn’s multi-billion dollar factory in Nghe An Province). Low land costs allow for rental yields of up to 12-15%.<\/p>\n

Construction of Foxconn electronic components factory in Nghe An Industrial Park<\/strong><\/p>\n

\"Construction<\/p>\n

Source: Nhadautu<\/p>\n

Developers are also modernizing industrial parks using technology. Next-generation industrial parks are equipped with worker housing, R&D centers, and smart infrastructure (IoT, 5G). The government is promoting green industrial development, aiming for 30% of industrial parks to meet environmentally friendly standards by 2030. Solar power generation, the use of recycled materials, and wastewater recycling within the complexes are being promoted. These trends are particularly evident in new industrial parks (e.g., the Korea-Vietnam Green Industrial Park in Hung Yen Province).<\/p>\n

Supply will increase as more than 220 new industrial parks are planned by 2030 and existing parks are being expanded. However, demand is also expected to increase accordingly.<\/a><\/p>\n

Read more<\/strong><\/h3>\n

Real Estate market outlook in Vietnam in 2026<\/a><\/p><\/blockquote>\n