Among Vietnam’s three regions - north, central, and south - the south’s industrial real estate market is considered to be the most competitive, according to the “Competition in the industrial real estate sector in Vietnam” report.

In the northern region, industrial real estate is mainly concentrated in the northeast. Quang Ninh province takes the lead, with 11,300 ha of industrial land. According to the report, the market has a very low rate of concentration and industrial parks have small market shares. There are almost no industrial parks with a dominant market share or that increase concentration in the market.

In the central region, there are about 260 industrial park projects under planning with a total area of up to 62,800 ha. Thanh Hoa province currently boasts the largest market share in industrial real estate in the region, with 19 per cent, or 12,100 hectares of planned land. The five provinces with the highest market share are Thanh Hoa, Binh Thuan, Nghe An, Quang Nam, and Quang Ngai, with a combined 60 per cent.

The south, meanwhile, has 400 industrial parks planned, with a total area of up to 109,000 ha. Binh Duong province has the largest concentration of industrial real estate in the region, holding a market share of some 13 per cent, or 14,500 ha. The report stated that the industrial real estate market in the south is extremely competitive, with no business dominating the market.