Vietnam will see more realty projects invested by businesses from the Republic of Korea (RoK) in the coming time as they are seeking opportunities to enter and expand operations in the country, according to Andrew Lee, Korean Desk Manager at real estate consultancy Savills Vietnam.
A recent survey by Savills Vietnam said Vietnam’s realty market, in addition to the manufacturing sector, has been attracting significant FDI from the RoK over recent years.
The proportion of the RoK’s investment in the market doubled in 2018 compared to the previous year. At the end of 2021, the figure grew 13 percent from 2020.
Since the start of 2022, Vietnam has continued to welcome many new projects from the Northeast Asian nation, including a 900-million-USD one to develop Lotte Eco Smart City Thu Thiem in Ho Chi Minh City.
YSL Group, another Korean investor, is also implementing an industrial land project spanning nearly 300 hectares in Nam Binh Xuyen, Vinh Phuc province.
Savills Vietnam said that logistics and warehouses are attracting attention from many Korean businesses, with the prominent trend being the development of cold storage and smart warehouses.
Vietnamese localities near borders and seaports with good transport infrastructure are also attractive to investors, Lee said.
The RoK is always in the top 3 foreign countries with the highest investment in Vietnam in the last three years, according to the Ministry of Planning and Investment.
In the first five months of this year, it ranked second in investment in Vietnam with over 2.06 billion USD, up 12.6 percent year on year./.
VNA
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