Industrial land rents in north rise to new peak – VnExpress International


By Dat Nguyen  &nbspOctober 3, 2020 | 08:00 am GMT+7
Industrial land rents in north rise to new peak  Industrial land rents in north rise to new peak - VnExpress International AnindustrialparkinHaiPhongCity 8794 6037 1601613845

An industrial park in northern Hai Phong City. Photo by courtesy of Becamex IDC.

Rent for industrial land in northern Vietnam hit a record $102 per square meter in the third quarter thanks to rising demand from manufacturers moving in from China.

It was 7.1 percent higher year-on-year as most industrial park developers in the north maintained strong bargaining power thanks to Vietnam’s potential as one of the most sustainable manufacturing hubs, according to a report by Jones Lang LaSalle (JLL).

Average occupancy was 74 percent, up 1.6 percent from the first quarter, as manufacturers sought to diversify their manufacturing portfolios outside China, especially in high-tech industries, the report said.

JLL expected there to be sufficient supply of industrial lands in Hai Phong City and Bac Ninh Province for the upcoming wave of investment.

There are plans to expand or build new parks mostly in the provinces of Hung Yen and Hai Duong, it said.

“The supply of industrial land in the north is expected to rise further in the next five years to capitalize on the increasing demand.”

Despite difficulties caused by the Covid-19 pandemic, such as travel restrictions that prevent investors from site inspections and direct meetings, there remains great interest in the country since it is considered a new regional industrial powerhouse, it added.

Park developers have invested in online platforms to include virtual tours and hosted webinars so that potential tenants can evaluate and secure land.

e.VnExpress

What's Your Reaction?

Cry Cry
0
Cry
Cute Cute
0
Cute
Damn Damn
0
Damn
Dislike Dislike
0
Dislike
Like Like
0
Like
Lol Lol
0
Lol
Love Love
0
Love
Win Win
0
Win
WTF WTF
0
WTF

Comments 0

Your email address will not be published. Required fields are marked *

Industrial land rents in north rise to new peak – VnExpress International

log in

Become a part of our community!

reset password

Back to
log in
error: Content is protected !!
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Open List
Open List
Ranked List
Ranked List
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF