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Real estate sector expects record FDI in 2018

FDI flows into real estate have been very high so far this year, and a new record is expected to be set this year.
Real estate sector expects record FDI in 2018 ảnh 1FDI flows into real estate have been very high so far this year, and a new record is expected to be set in 2018. (Photo: thanhnien.vn)

Hanoi (VNA) - Foreign direct investment (FDI) flowsinto real estate have been very high so far this year, and a new record isexpected to be set this year.

According to the Ministry of Planning andInvestment, 1.255 billion USD has come into the sector.

“The real estate market has mostlyattracted FDI through M&A activities,” Nguyen Hoang, R&D director, DKRAVietnam, told Dau Tu (Vietnam Investment Review) newspaper.

“It is more and more popular as it cancombine foreign investors’ strength in finance and experience with local enterprises’huge lands and knowledge of the local investment process.”

This year, investors are expected to starta series of projects on lands they had bought last year, such as Dai Phuoc Lotusin Ho Chi Minh City, which was bought by the China Fortune Land Developmentfrom investment funds: VinaLand Limited and VinaCapital Vietnam OpportunityFund Limited last April; Future Otis Hotel in the central city of Nha Trang byTaiwanese P.H Group; and apartment projects in HCM City by CapitaLand.

Nguyen Thi Van Khanh, investment director,JLL Vietnam, said: “FDI in real estate will set a new record this year. It willbe not only for building apartments and housing but also commercial real estatesuch as grade A office buildings which could potentially bring in high revenuesof 7-8 percent a year.”

Foreign investors also focused on hotelprojects, she said.

“Foreign investors are looking for ‘clean’lands in good locations for their development plans.”

Dr Su Ngoc Khuong, investment director,Savills Vietnam, said: “FDI in real estate will help enterprises reduce theirdependence on banks.”

Some economists warned about a possibledownside, pointing to the fact that in previous years, many enterprises hadattracted foreign investment but had not been adequately prepared, leading toproblems.

“HCM City’s real estate market has receiveda record number of foreign investors, mostly private funds, which would like toquickly complete projects,” Su Ngoc Anh, director of the city’s planning andinvestment department, said.

Last year, FDI in real estate was worth 8.5 percentof the city’s total FDI of 3.05 billion USD. - VNA
VNA
#Foreign direct investment #real estate #new record #1.255 billion USD #M&A activities #hotel projects #finance and experience #Dai Phuoc Lotus #Vietnam News Agency #Vietnamplus

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