HCMC costliest for industrial land lease

By Dat Nguyen   January 18, 2023 | 04:36 pm PT
HCMC costliest for industrial land lease
Tan Tao Industrial Park in Binh Tan District, Ho Chi Minh City. Photo by VnExpress/Quynh Tran
HCMC had the highest industrial land rentals last year at $180-300 per square meter per term amid a general supply shortage in southern localities.

It was followed by the neighboring provinces of Long An, Binh Duong and Dong Nai, where prices were $100-275, according to a recent report by the Vietnam Association of Realtors.

Average rents across the country rose by 10% from 2021 to $100-120 and are set to rise further this year.

The average absorption rate was 80%, but close to 100% in some localities such as Hanoi, Ho Chi Minh City, Dong Nai, Bac Ninh, Bac Giang, and Binh Duong.

Binh Duong has the largest area of land in industrial parks, accounting for a fourth of the total available in the south.

Hung Yen Province near Hanoi has the largest area earmarked for industrial park development, and plans to build around 30 by 2030.

Vietnam has 292 industrial parks and 106 more are under construction.

They house around 10,000 domestic companies and 11,000 foreign-owned ones who have invested a total of over $340 billion.

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