Q1 foreign investment into real estate surpasses last year’s figure
Foreign investment poured into real estate hit almost US$2.7 billion 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 US$2.69 billion in Q1 alone, higher than the US$2.63 billion last year. It included US$1.1 billion channeled into existing projects and US$992 million 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 US$941 million 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 US$1.1 billion.
The city state remained the largest investor in Vietnam in Q1, with registered capital totalling US$2.29 billion, equivalent to 25.7% of the total foreign investment.