RoK spends money on the Vietnamese real estate market | Company

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Illustrative photo (Source: VNA)

Hanoi (VNA) The Vietnamese real estate marketin addition to the manufacturing sector, has attracted significant FDI from the Republic of Korea (Republic of Korea) in recent years, according to a survey by real estate consultancy Savills Vietnam.

The proportion of ROK investment in the market doubled in 2018 compared to the previous year. At the end of 2021, the figure increased by 13% compared to 2020.

Andrew LeeKorea office manager at Savills Vietnam, said that following the reopening of international flights to Vietnam in the first quarter of this year, companies in the Republic of Korea are looking for opportunities to enter and expand their operations in the market.

He predicted that the next time will see more real estate projects funded by the RoK.

According to the expert, since the beginning of 2022, Vietnam has received $900 million of investment from the Republic of Korea-based Lotte E&C in the development of the Lotte Eco Smart City Thu Thiem smart city area. YSL Group, another Korean investor, is also implementing an industrial land project of nearly 300 hectares in Nam Binh Xuyen, in Vinh Phuc province.

Savills Vietnam said that logistics and warehouses are gaining the attention of many Korean companies, with the prevailing trend being the development of cold storage and smart warehouses.

Vietnamese localities near borders and seaports with good transportation infrastructure are attractive for investment, Lee said.

In the first five months of this year, the Republic of Korea ranked second in investment in Vietnam with over $2.06 billion, up 12.6 percent year on year, according to the Ministry of Foreign Affairs. Plan and Investment./.

ANV

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