Foreign direct investment flows into Vietnam’s real estate sector hit 345.5 million USD in February, accounting for 10.1 percent in total FDI poured into the country, increasing by 12 times year-on-year.
Real estate ranked first among sectors in FDI attraction during the period, with most projects developing industrial park infrastructure.
A project invested by the Vietnam Singapore IP Joint Venture Co., Ltd which covers 1,000 ha in the southern province of Binh Duong, was the biggest among the 11 FDI property projects in Vietnam in the period.
With the project, the third of its kind in Binh Duong, VSIP lifted its total number of IP projects in the country to seven.
Vietnam has attracted considerable FDI in IP infrastructure development and logistics from late 2016 thank to improved economic growth. The country is said to be one of the most promising markets in Asia Pacific.
As of December 31, 2016, Vietnam was home to 324 IPs, with 220 operational.
Vietnam’s property market will be able to witness recoveries in the year thanks to the increase in demand for apartment, office leasing space, hotel, and IP./.
