{"id":7772,"date":"2020-06-02T09:11:11","date_gmt":"2020-06-02T09:11:11","guid":{"rendered":"https:\/\/www.ashtonhawks.com\/?p=7772"},"modified":"2024-06-18T15:09:48","modified_gmt":"2024-06-18T15:09:48","slug":"vietnam-industrial-property-supply-rises-as-companies-exit-china","status":"publish","type":"post","link":"https:\/\/devwp02.visibleone.io\/ashtonhawks\/vietnam-industrial-property-supply-rises-as-companies-exit-china\/","title":{"rendered":"Vietnam industrial property supply rises as companies exit China"},"content":{"rendered":"\n
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Supply of ready-built factories and warehouses in southern Vietnam will increase by 28 per cent this year to 2.7 million square meters.As more companies arrive from China after the pandemic, supply will rise by 25 per cent to two million square meters in the north, real estate consultancy CBRE reported.<\/p>\n<\/div><\/div>\n\n\n\n

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It added that the trend of companies seeking to reduce supply chain dependency on China is likely to benefit Vietnam.\u201dSurging demand from foreign manufacturers seeking to relocate to Vietnam \u2013 and a desire to commence operations as soon as possible \u2013 are driving demand for ready-built industrial properties,\u201d said Thanh Pham, associate director of research and consulting services, CBRE Vietnam.Hieu Le, director of the firm\u2019s industrial leasing services, said demand for warehousing has been mainly driven by e-commerce companies who are expanding storage space and distribution networks.After the pandemic is contained, the average asking rent for warehouses would increase by 4-11 percent, he noted.\u201dThere is growing consumption and distribution of groceries and fresh foods, which are set to accelerate occupier demand for temperature-controlled storage.\u201d<\/p>\n

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Analysts have said\u00a0Vietnam\u2019s industrial real estate could benefit\u00a0from foreign investors moving production out of China. Apple, Google, and Microsoft are reportedly making plans to begin production in Vietnam\u00a0this year. Customers have found some Apple wireless earbuds AirPods Pro carrying the \u2018Assembled in Vietnam\u2019 label rather than the traditional \u2018Assembled in China\u2019 tag.Vietnam\u2019s average industrial land price is 43 per cent lower than that of Thailand and 54 percent lower than that of Malaysia, and its corporate income tax rate of 20 per cent is among the lowest in Southeast Asia.The country\u2019s many trade deals, especially the EU-Vietnam Free Trade Agreement, which is set to come into effect this year, would be another factor in attracting foreign investors, it added.Vietnam has 260 industrial parks with an occupancy rate of 76 per cent, according to the Ministry of Planning and Investment. Another 75 are under construction.Source:\u00a0VN Express<\/a><\/div>\n<\/div>\n
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