MARKET SNAPSHOTS WEEK 08/2025
Japan's Sumitomo to establish 2nd industrial park in northern Vietnam province
At a meeting with Vinh Phuc province, Sumitomo asked the Vinh Phuc Provincial People's Committee to support businesses in implementing investment regulations and finding high-quality labor for the 2nd industrial park. Vinh Phuc chairman also called on Sumitomo to encourage Japanese firms to invest in the province. Thang Long Vinh Phuc is the first Sumitomo industrial park in Vinh Phuc, deployed in 2015. The VND 2,000 billion (USD 78.4 million) project covers 213 hectares. So far, Thang Long Vinh Phuc has attracted 47 investments, including 37 foreign ones with total registered capital of over USD 1 billion and 10 domestic ones worth USD 200 million. Businesses in the industrial park now employ 9,600 people. In August 2024, Thang Long Vinh Phuc made an expansion proposal to Vinh Phuc authorities, as the occupancy rate had already exceeded 90%.
Ecopark Hai Duong to develop mixed-use complex on prime land in Buon Ma Thuot
The People's Committee of Dak Lak has approved the allocation of 4.3 hectares of land at 2 Mai Hac De Street, Tan Thanh Ward, Buon Ma Thuot City to Ecopark Hai Duong Joint Stock Company to build a complex of commercial centers, hotels, and housing. This location used to be the headquarters of Dak Lak Provincial General Hospital. Of which, 2.1 hectares will be used for residential purposes, including townhouses and high-rise apartments, with a 50-year lease period and subject to land use fees. An additional 0.5 hectares will be designated for social housing, exempt from land use fees, while 1.4 hectares will be allocated for public facilities at no cost. The remaining 0.3 hectares of commercial service land for lease is paid once for the entire lease term. In January 2025, Ecopark Hai Duong won the auction for this prime land with a bid of nearly VND 570 billion (approximately USD 23 million), including VND 515 billion for land use rights and the remainder for existing assets on the site. Buon Ma Thuot City is oriented to be the central urban area of the Central Highlands. By 2050, Buon Ma Thuot will become a world coffee city, a cultural center, a center for biodiversity conservation in the Central Highlands and the Vietnam - Laos - Cambodia development triangle.
Becamex - VSIP Consortium proposed 3.000 hectares project in Khanh Hoa
The Becamex - VSIP consortium has proposed a large-scale development project spanning 3,000 hectares in Dien Khanh and Ninh Hoa, Khanh Hoa province. The project will be divided into three zones: industrial, urban, and service. According to the developers, the project will be designed with a nature-friendly approach, leveraging the existing ecosystem while incorporating modern infrastructure that aligns with both local characteristics and international standards. It aims to enhance economic connectivity, attract domestic and foreign investment, and provide residential, commercial, and service spaces for workers and residents in the area. Khanh Hoa province has identified industrial development as a key driver for achieving double-digit economic growth in the coming years. Provincial leaders have expressed strong support for the Becamex - VSIP proposal and have pledged to facilitate the project in accordance with legal regulations.
Haus Da Lat launched the groundbreaking
On February 19, developer The One Destination held the ground breaking ceremony for Haus Da Lat, a pioneering ESG-style real estate complex in Vietnam. The project aims to position Da Lat on the global tourism and ESG real estate map. According to the development timeline, the project’s landscaped park is expected to be completed and opened in Q2. By early Q3, the exhibition area, private club, stage, and foutain will also be inauguarted. The model home area will be introduced in Q3, with Sky Villas and Sky Mansions set for handover in Q1/2027. Additionally, a five-star InterContinental resort is scheduled to open in 2027. Located on a prime 5-hectare site in downtown Da Lat, overlooking Xuan Huong Lake, Haus Da Lat is not only the city’s largest "pine forest conservation" project but also a new cultural destination for the region.
Real estate firms ramp up hiring as market rebounds
Several real estate companies in Ho Chi Minh City, including Novaland, Tran Anh Land, Asian Holding, and Dong Tay Land, are actively recruiting large numbers of sales agents to support their project sales. Novaland, which suspended its sales team in 2023 due to legal issues, has resumed hiring after resolving obstacles for projects like AquaCity and Nova Ho Tram. Tran Anh Land is recruiting around 100 agents, focusing on genuine homebuyers, while Asian Holding and Dong Tay Land are also expanding their sales teams to boost transactions in early 2024. The real estate market has seen a shift in sales strategies. Developers that previously maintained large in-house sales teams are now relying more on brokerage firms to cut costs and accelerate sales. Companies like Hung Thinh and Nam Long Group have adopted this model, leveraging external brokerages to distribute their products more efficiently.
Ho Chi Minh City invests USD 400 million in 7km North-South elevated road
The North-South Axis Road Project is one of four key gateway routes connecting Ho Chi Minh City with neighboring provinces, with an investment of nearly VND 10 trillion (USD 400 million). The project will include a 7.2-km elevated section, four lanes and a design speed of 80 km/h, along with elevated roads and parallel routes. The project will have two main intersections at Nguyen Van Linh Boulevard and Ben Luc - Long Thanh Expressway. The total investment is estimated at VND 9,894 billion, of which 47% will come from the city budget and 53% from private capital. It is expected to be implemented in the 2025-2028 period, with a toll collection period of 22 years and 1 month. This process includes site clearance, investor selection and BOT construction. However, tolls will not be collected on parallel routes to provide alternative routes for people. This project, along with the upgrade of National Highways 13, 22 and 1, is part of Ho Chi Minh City’s key infrastructure initiatives under Resolution 98. The city is also accelerating major projects such as the Ho Chi Minh City-Moc Bai Expressway, Ring Road 4, Can Gio Bridge and Thu Thiem 4 Bridge.