Real estate market picking up

The real estate sector has been bustling with a series of positive signs, as some resort projects are reactivated, industrial ones implemented, and new housing supply entering the market.

The real estate sector has been bustling with a series of positive signs

In the industrial real estate segment, Gelex Group JSC and Frasers Property are collaborating to develop industrial parks that meet LEED (Leadership in Energy and Environmental Design) standards. Becamex IDC Corp., meanwhile, recently signed an investment agreement for the 5,000-ha Binh Thuan Industrial Park project, with a total investment exceeding 800 million USD.

A number of resort real estate projects have been resumed since the beginning of this year, such as the Flex Home beach apartment project in Libera Nha Trang developed through cooperation between Masterise Homes and KDI Holdings and featuring 300 condotel units.

The market has also witnessed the launch of new housing projects, including the Vinhomes Royal Island covering 877 ha in the northern port city of Hai Phong and the 3.7-ha Eaton Park by Gamuda Land in Ho Chi Minh City.

The Government is supporting the development of social housing by updating legal frameworks and offering preferential interest rates. Currently, there are 129 projects of this kind, with a total of 114,934 social housing units under construction.

In the office segment, strong demand from foreign manufacturing and IT enterprises will continue to support the markets in Hanoi and Ho Chi Minh City. It is expected that the supply of Grade A and B offices in HCM City will increase by an additional 200,000 square meters or 20% compared to the current time. Hanoi is projected to receive an additional 220,000 square meters, or a 13% increase, from the current supply.

Real estate credit activities are showing a trend of growth month by month with positive developments. Accordingly, in the first four months of the year, Ho Chi Minh City’s realty credit rose by 1.61%, higher than the overall credit growth and accounted for 27% of the total credit balance./.

VNA