Q1 foreign investment into real estate surpasses last year’s figure
The Vietnam - Singapore Industrial Park (VSIP) in Hai Duong province (Photo: VNA)
Foreign investment poured into real estate hit almost 2.7 billion USD in the first quarter of this year, outpacing the figure of the entire 2021, according to the Ministry of Planning and Investment.
Statistics show that foreign investment into real estate reached 2.69 billion USD in Q1 alone, higher than the 2.63 billion USD last year. It included 1.1 billion USD channeled into existing projects and 992 million USD spent on contributing capital to or buying shares from domestic firms.
The capital inflow was mainly driven by industrial real estate.
Notably, Singapore added nearly 941 million USD to a project on developing urban infrastructure and services of the Vietnam - Singapore Industrial Park (VSIP) in northern Bac Ninh province, which helped lead to a surge in foreign investment in the property sector.
GLP, an industrial property giant of Singapore, also announced the establishment of GLP Vietnam Development Partners I, a logistics infrastructure development fund worth 1.1 billion USD.
The city state remained the largest investor in Vietnam in Q1, with registered capital totalling 2.29 billion USD, equivalent to 25.7 percent of the total foreign investment.