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  • News
  • News in Vietnam
  • 28 October 2021

Supply of industrial real estate in Quang Ninh will increase

Quang Ninh industrial real estate market will soon record new land funds with investors from Japan and Korea.

The Management Board of Quang Ninh Economic Zone said that according to the Development Plan of Industrial Parks, Economic Zones to 2020 approved by the Prime Minister, 13 industrial zones, 3 border economic zones, and 2 coastal economic zones with a total area of about 388,671 ha were established and developed. It distributed in 11/13 localities of Quang Ninh province.

Among 13 industrial zones in the planning, there are eight industrial zones in economic zones. This creates an attraction for industrial zones in Quang Ninh, thanks to the incentives of the EZ. There are ten infrastructure business investment projects in 08 industrial zones, which competent authorities have decided, granted investment registration certificates, and established with a total area of 4,514.69 ha.

Industrial land remains the hottest sector for new producers or to meet the expanding demand of existing manufacturers, which is supported by Vietnam’s large manufacturing capacity. As a result, most industrial park developers in the South maintained the upward momentum in land prices and reached a new peak at $111/m2/lease cycle, up 8.1% year-on-year in Q1, 2021.

Meanwhile, prefabricated house rents averaged at $4.50/m2/month for the whole region, up 3.1% yoy in response to large requests from medium and small businesses.

The latest move of Amata Group when working with two partners from Japan and Korea with the leaders of Quang Ninh province shows that the industrial land fund in Quang Ninh will continue to increase sharply in the near future. This is also reflecting the increasing attraction to FDI inflows of Quang Ninh.

The development process of this industrial zone will be associated with environmentally friendly and high-tech industries to attract investors in production, creating demand for accommodation, commercial facilities, and services. Amata Group has also reported to Quang Ninh that it will continue to develop several industrial parks in the province, through cooperation with big investors from countries and territories such as Japan, Korea, Singapore, and Taiwan. They will attract large secondary investors from these countries and regions.

Meanwhile, GS E&C contributed ideas on building a new industrial park based on the view of harmony with Ha Long Bay. This will be the first Korean industrial park built in Vietnam based on cooperation with Amata to attract Korean investors in modern technology such as renewable energy, biopharmaceuticals, electric vehicles…

The fact that these large Japanese and Korean industrial park infrastructure developers are actively looking for Quang Ninh has shown the development potential of this land in developing a new generation of industrial real estate, to welcome the new generation of industrial real estate quality FDI flows from major free trade agreements that Vietnam is and will be participating in.

According to investors, the next five years is the right time to welcome the first secondary investors into the new IP in the area. Therefore, Quang Ninh wants to compete in attracting FDI inflows. Preparing a sizeable industrial land fund and compatible infrastructure is something that this locality must do soon.

(Source: baodautu)