Industrial real estate market bouncing back with mega projects

Illustrative image.

The industrial real estate market, frozen about the earlier two quarters by the COVID-19 pandemic, is bouncing again with new and expanded assignments.

The restoration has been marked by the existence of mega initiatives like one particular on infrastructure construction and business at the Nhuan Trach Industrial Park in northern Hoa Binh province value practically 2.4 trillion VND (104.7 million USD).

Other people incorporate a related undertaking at the Tam Thang Industrial Park in central Quang Nam province with an expenditure of additional than 768 billion VND, and those people by Phat Dat Industrial Park Investment decision and Enhancement JSC (PDI) at the Cao Lanh Industrial Park in the Mekong Delta province of Dong Thap with a mixed funds of about 14.72 trillion VND.

Meanwhile, five industrial zones in Ho Chi Minh Metropolis, masking some 4,200ha, are predicted to be part of the marketplace this 12 months, which includes 4 in Binh Chanh district.

In Hanoi, noteworthy industrial real estate projects for this calendar year and 2023 include things like Quang Minh II, Thanh My-Xuan Son, Soc Son, Soc Son II, HANSSIP and Phung Xa industrial parks.

Headquartered in Singapore, SLP International officially commenced the construction of the first period of the SLP Park Xuyen A in My Hanh Bac commune in Extensive An province’s Duc Hoa district on February 24.

This is SLP’s second undertaking in Very long An province and its third in Vietnam. The project’s very first period is expected to be done by the initially quarter of 2023, with a overall leasable space of about 84,000sqm.

“The demand from customers for all set-crafted warehouses has also increased. With our tasks, which include SLP Park Xuyen A, we intend to meet customers’ progressively various warehouse needs and capitalise on the early development levels of Vietnam’s promptly modernising logistics landscape,” said Jenkin Chiang, CEO and founding associate of SLP.

Previously, SLP partnered with its strategic husband or wife GLP to start GLP Vietnam Improvement Partners I, with an expenditure capacity of 1.1 billion USD, a single of Southeast Asia’s premier logistics development resources.

So considerably, SLP has obtained 6 progress web sites with a whole land area of close to 860,000sqm, focusing on Vietnam’s two biggest marketplaces, Hanoi and Ho Chi Minh Metropolis, in accordance to Vietnam Investment Evaluate.

Colliers Vietnam, which supplies a full vary of proactive integrated assets expert services, forecasts that Binh Duong, Binh Phuoc and Dong Nai provinces will be “hot spots” of the real estate market place this yr thanks to their strengths in transportation infrastructure and financial dynamism./.