The industrial real estate market in Vietnam is experiencing a surge in demand, particularly from small and medium-sized enterprises, while large multinational corporations remain cautious amidst ever-changing trade policies. This report also highlights the industrial land leasing activities of several companies in the first half of 2025.
Kinh Bac Urban Development Corporation (KBC) has witnessed a remarkable leap in industrial land sales, with a year-to-date figure of approximately 150 hectares for the first half of 2025, reflecting a staggering 700% growth compared to the 18 hectares sold in the entire year of 2024.
Notable transactions include 83 hectares in Hung Yen’s industrial clusters, 31 hectares in Nam Son Hap Linh Industrial Park (Bac Ninh), and 30 hectares in Trang Due 3 Industrial Park (Hai Phong). In July 2025, KBC signed a memorandum of understanding (MOU) for approximately 50 hectares in the Que Vo 2 Expanded Industrial Park (Bac Ninh). Among the prominent tenants are Goertek (31 hectares) and BW Industrial (10 hectares).
IDICO Corporation (IDC) has not disclosed its second-quarter industrial land leasing progress or results for 2025. However, based on the approximately 50 hectares sold in the first four months and contracts signed in May-June with Topsun Logistics and Vifon, Vietcap estimates that IDC will attain a minimum of 60 hectares in the first half of 2025.
Meanwhile, Saigon VRG Investment Joint Stock Company (SIP) is projected to record around 25 hectares of industrial land sales in the first six months, lower than the 74.5 hectares sold in 2024. A notable contract includes leasing 10 hectares in Phuoc Dong Industrial Park to a Chinese company in the textile industry.
Sonadezi Chau Duc Joint Stock Company (SZC) has not published its total industrial land sales for the first half of 2025. Nonetheless, the company signed an MOU for approximately 9.6 hectares in the first quarter and recently finalized a transaction to lease 1.5 hectares to Sonadezi An Binh, an affiliated unit of the Sonadezi Corporation.
This performance is considered modest compared to 2024, when SZC made headlines with two significant deals: an 18-hectare lease to Tripod, valued at $250 million, and a 6-hectare lease to Hoa Phat (HPG).
Phuoc Hoa Rubber Joint Stock Company (PHR) and Vietnam Rubber Group (GVR) reported low industrial land sales in the first half of 2025 due to limited available land. However, both companies have made legal progress in converting rubber land to industrial use. PHR may soon receive compensation for the 786-hectare Bac Tan Uyen 1 Industrial Park project, approved in June 2025, while GVR has secured investment approval for approximately 2,100 hectares of new industrial land since 2024.
Viglacera Corporation (VGC) has not disclosed specific sales figures, but Vietcap indicates that results have been bolstered by the opening of the Thuan Thanh Industrial Park (Bac Ninh) and Song Cong II Industrial Park (Thai Nguyen) for leasing. As of the end of June 2025, VGC has handed over approximately 65 hectares of land.
Quang Chau Industrial Park of Kinh Bac
Looking ahead to the industrial real estate outlook for 2025, growth is expected to be driven primarily by a four-fold increase in industrial land deliveries from KBC, totaling 145 hectares. This growth is supported by new ready-to-lease industrial land supplies in Hung Yen and Hai Phong.
For 2026, the growth momentum is anticipated to be propelled by BCM’s new industrial park projects in Binh Duong and Ho Chi Minh City (cay Truong and Bau Bang expanded), along with the expected recovery in industrial land demand across the sector.
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