Vietnam’s real estate market attractive to RoK investors: consultancy company
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.
Hanoi (VNA) - Vietnam will see more realty projects investedby 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, hasbeen attracting significant FDI from the RoK over recent years.
The proportion of the RoK’s investment in the market doubled in 2018 compared to theprevious 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 projectsfrom the Northeast Asian nation, including a 900-million-USD one to develop Lotte EcoSmart City Thu Thiem in Ho Chi Minh City.
YSL Group, another Korean investor, is also implementing an industrial landproject spanning nearly 300 hectares in Nam Binh Xuyen, Vinh Phuc province.
Savills Vietnam said that logistics andwarehouses are attracting attention from many Korean businesses, with theprominent trend being the development of cold storage and smart warehouses.
Vietnamese localities near borders and seaports with good transportinfrastructure are also attractive to investors, Lee said.
The RoK is always in the top 3 foreign countrieswith the highest investment in Vietnam in the last three years, according to theMinistry of Planning and Investment.
In the first fivemonths of this year, it ranked second in investment in Vietnam with over2.06 billion USD, up 12.6 percent year on year./.
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Illustrative image (Photo: VNA) 
