Mr. Stephen Wyatt, General Director of JLL Vietnam, said that in the first 3 months of the year, land rental prices for factories and logistics warehouses still recorded an upward trend, becoming a rare bright spot in the context of many types of real estate.
In the first quarter of the year, in industrial clusters in the Southern region, the number of land rental requests was still quite high and investors became confident in increasing land rental prices.
Industrial parks in the North attract the majority of corporations that want to diversify their production portfolios besides their bases in China, with their well-developed infrastructure and close location to this country of billions of people.
Vietnam’s industrial and logistics real estate market.
Mr. Stephen Wyatt analyzed that when factories were forced to close during the Covid-19 outbreak in China, many large companies were even more motivated to rent industrial real estate in Vietnam to find solutions to maintain production.
JLL CEO assessed that Vietnam is still a promising destination since the wave of moving factories from China began.
Under the impact of Covid-19, temporary postponement of land lease agreements and new needs will depend on the ability to control the epidemic quickly or slowly.
This expert predicts that the pandemic could be a new catalyst to promote the process of shifting production faster, after being strongly affected by US-China trade tensions last year.
