Illustrative image.

The industrial real estate market, frozen over the past two quarters by the COVID-19 pandemic, is bouncing back with new and expanded projects.

The recovery has been marked by the presence of mega projects like one on infrastructure construction and business at the Nhuan Trach Industrial Park in northern Hoa Binh province worth nearly 2.4 trillion VND (104.7 million USD).

Others include a similar project at the Tam Thang Industrial Park in central Quang Nam province with an investment of more than 768 billion VND, and those by Phat Dat Industrial Park Investment and Development JSC (PDI) at the Cao Lanh Industrial Park in the Mekong Delta province of Dong Thap with a combined capital of over 14.72 trillion VND.

Meanwhile, five industrial zones in Ho Chi Minh City, covering some 4,200ha, are expected to join the market this year, including four in Binh Chanh district.

In Hanoi, notable industrial real estate projects for this year and 2023 include Quang Minh II, Thanh My-Xuan Son, Soc Son, Soc Son II, HANSSIP and Phung Xa industrial parks.

Headquartered in Singapore, SLP International officially commenced the construction of the first phase of the SLP Park Xuyen A in My Hanh Bac commune in Long An province's Duc Hoa district on February 24.

This is SLP's second project in Long An province and its third in Vietnam. The project's first phase is expected to be completed by the first quarter of 2023, with a total leasable area of about 84,000sqm.

“The demand for ready-built warehouses has also increased. With our projects, including SLP Park Xuyen A, we intend to meet customers’ increasingly diverse warehouse demands and capitalise on the early growth stages of Vietnam’s rapidly modernising logistics landscape," said Jenkin Chiang, CEO and founding partner of SLP.

Earlier, SLP partnered with its strategic partner GLP to launch GLP Vietnam Development Partners I, with an investment capacity of 1.1 billion USD, one of Southeast Asia's largest logistics development funds.

So far, SLP has acquired six development sites with a total land area of approximately 860,000sqm, focusing on Vietnam's two largest markets, Hanoi and Ho Chi Minh City, according to Vietnam Investment Review.

Colliers Vietnam, which provides a complete range of proactive integrated property services, forecasts that Binh Duong, Binh Phuoc and Dong Nai provinces will be “hot spots” of the real estate market this year thanks to their advantages in transport infrastructure and economic dynamism./.