The real estate M&A market in 2025 is expected to continue to witness the dominance of foreign investors, with many factors contributing to this trend. First of all, strong financial advantages make it easy for them to own large-scale projects, especially in the context of the domestic market facing difficulties in capital flows. Despite holding abundant land funds, many Vietnamese enterprises are still forced to transfer projects due to limited financial resources. In addition, the in-depth experience in real estate management and operation of foreign investors not only creates trust in the market but also contributes to improving the value and performance of projects[5].

According to Associate Professor Dr. Dinh Trong Thinh, the real estate M&A trend in 2025 will likely still be tilted towards foreign investors, in which the industrial real estate segment is expected to continue to attract great attention. In fact, this is still a field with high demand in the market. In addition, the economic growth and the rapid increase in the number of tourists in recent times are opening up great opportunities for the resort real estate segment, attracting many investors to participate.

In addition, the high-end housing segment is also expected to become an attractive M&A target in 2025, especially for foreign enterprises. As people’s living standards are increasingly improved and the number of rich people increases, foreign investors see development opportunities in acquiring projects to build high-end apartments, meeting the increasing demand of the market.

Opportunities for Japanese enterprises in Vietnam’s real estate M&A market

According to data from the Foreign Investment Agency (Ministry of Planning and Investment), as of December 20, 2023, the total registered foreign investment (FDI) capital in Vietnam reached nearly 468.92 billion USD. Of which, Japan ranked third with a total cumulative registered capital of nearly 70 billion USD, accounting for about 14.9% of the total FDI capital in Vietnam[6].

In recent years, Japanese companies have been particularly active in residential real estate, driven by both the country’s rapid urbanization and rising demand from its growing middle class. Additionally, given Japan’s ongoing push to expand its manufacturing base in Vietnam, there is a compelling opportunity for investments in industrial real estate—especially in logistics, warehouses, and production plants to support Vietnam’s growing industrial output. Therefore, Japanese investors would benefit from exploring both the residential and industrial segments, leveraging their strengths in technology and sustainable construction. These areas align with Vietnam’s economic trends and infrastructure developments. In the real estate sector, their involvement has grown steadily, with reports highlighting strong returns particularly in major urban centers like Ho Chi Minh City and Hanoi[7]. Given Vietnam’s rapidly expanding manufacturing base, industrial real estate – such as modern industrial parks supporting advanced manufacturing – presents a compelling opportunity for Japanese investors[8]. At the same time, the country’s burgeoning middle class and the rise of smart urban development projects offer attractive prospects in residential real estate. Overall, Japanese enterprises are well positioned to leverage their technological expertise and long-term strategic approach to capture high-value opportunities in both industrial and residential segments of Vietnam’s real estate M&A market.

Conclusion

M&A activities in the real estate sector in Vietnam are growing strongly and continue to be an attractive investment channel for foreign enterprises, especially Japanese enterprises. With strong financial potential, in-depth management experience and long-term investment strategies, Japanese enterprises can take advantage of this opportunity to expand the market, while contributing to improving the quality of urban development in Vietnam. However, to be successful, they need to have a flexible cooperation strategy, understand legal risks and increase transparency in transactions.

[1] https://vtv.vn/kinh-te/tang-truong-von-fdi-dong-luc-cho-bat-dong-san-2025-20250118071746865.htm

[2] https://vir.com.vn/more-vigorous-2025-in-sight-for-ma-deals-118872.html

[3] https://dantri.com.vn/bat-dong-san/5-thuong-vu-ma-bat-dong-san-noi-bat-nhat-nam-2024-20241230205036921.htm

[4] https://vnexpress.net/kim-oanh-group-cung-ba-tap-doan-nhat-phat-trien-du-an-ty-do-4754117.html

[5] https://tapchitaichinh.vn/ma-bat-dong-san-2025-bong-van-trong-san-khoi-ngoai.html

[6] https://fia.mpi.gov.vn/Detail/CatID/f3cb5873-74b1-4a47-a57c-a491e0be4051/NewsID/00689952-458e-417a-bf12-896d853e1276

[7] https://tuoitre.vn/bat-dong-san-viet-nam-hap-dan-nha-dau-tu-nhat-20190423095909166.htm

[8] https://senvangdata.com.vn/dac-diem-doanh-nghiep-fdi-cua-nhat-ban-vao-viet-nam-nam-2023-va-linh-vuc-bat-dong-san-tai-viet-nam.html

* If you wish to quote any information from this article, please kindly cite the source along with the link to the original article to respect copyright.