Real estate continues to attract foreign investors

Vietnam’s real estate sector remains attractive among foreign investors, with FDI rising 4.8 per cent year-on-year in 2023, according to the Ministry of Planning and Investment.

The sector drew in nearly $4.67 billion worth of FDI last year, putting it in second place in attraction nationwide.

Major foreign investors included Marubeni Group from Japan, which cooperated with Vietnam’s Hung Thinh Group to invest in developing a financial center in Thu Duc city in Ho Chi Minh City, with estimated investment of over VND10 trillion ($408 million).

Singapore conglomerate Keppel Corporation acquired a 11.8-ha project in Ho Chi Minh City worth $277 million and a retail project in Hanoi worth $80 million. It also purchased 65 per cent of shares in a real estate company worth $52 million.

Malaysian property developer Gamuda, meanwhile, purchased a 3.68-ha project in Thu Duc city in Ho Chi Minh City, with total capital of $305 million.