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Vietnam added 322,000m² to industrial real estate supply

It is expected that the North will welcome a new supply of industrial and logistics real estate up to 322,000m².

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According to a report by global real estate consulting firm Jones Lang Lasalle (JLL), by the end of 2024, the total supply of key industrial real estate is expected to reach 1.4 million m², 1.3 times higher than the supply of key industrial real estate. year 2023.

According to the above report, the occupied area grew positively compared to the first half of 2023. Rental demand in the last 6 months of 2023 gradually stabilized, after the gloomy first 6 months of the year.

Besides retailers, third-party logistics, and e-commerce, the need for modern warehouses is increasingly diverse with the participation of manufacturers and distributors.

In addition, rental demand in the fourth quarter of 2023 will also benefit from the increased shopping effect at the end of the year.

The second half of 2023 witnessed a significant increase in the occupied area, with 175,800m², mainly from new projects entering the market in 2023 such as JD Logistics Park Hai Phong, SLP Park Nam Son Hap Linh, SLP Park Yen Phong and Mapletree Hung Yen Logistics phase 3.

Additionally, notable leasing transactions include LONGi Vina Solar and Foxconn at SLP Nam Son Hap Linh.

The Northern industrial real estate market welcomes new supply with 132,300m² in the third quarter of 2023. According to JLL's report, total supply will reach 1.1 million m² by the end of 2023.

JD Logistics Park Hai Phong is JD Property's first push into the Northern market, with 55,000m² mainly for e-commerce activities.

The average rental price in the Northern market was recorded at 4.61 USD/m²/month in the second half of 2023, down 0.3% but still up 1.8% over the same period last year. Meanwhile, the average rental price by project did not change significantly.

In the investment market, Khai Toan Joint Stock Company and Boustead Singapore have just completed a transaction at KTG Yen Phong, Bac Ninh.

Overall returns in the second half of 2023 fell slightly to 8.2%, as capital value growth outpaced rental growth.

(Theo Tuoi Tre)


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