As more companies arrive from China after the pandemic, supply will rise by 25 percent to two million square meters in the north, real estate consultancy CBRE said in a recent report.The trend of companies seeking to reduce supply chain dependency on China is likely to benefit Vietnam, it said.”Surging demand from foreign manufacturers seeking to relocate to Vietnam – and a desire to commence operations as soon as possible – are driving demand for ready-built industrial properties,” Thanh Pham, associate director of research and consulting services, CBRE Vietnam, said.Hieu Le, director of CBRE industrial leasing services, said demand for warehousing has been mainly driven by e-commerce companies who are expanding storage space and distribution networks.After the pandemic is contained, the average asking rent for warehouses would increase by 4-11 percent, he said.”There is growing consumption and distribution of groceries and fresh foods, which are set to accelerate occupier demand for temperature-controlled storage.”Analysts have said Vietnam’s industrial real estate could benefit from foreign investors moving production out of China.Apple, Google and Microsoft are reportedly making plans to begin production in Vietnam this year. Customers have found some Apple wireless earbuds AirPods Pro carrying the ‘Assembled in Vietnam’ label rather than the… Read full this story
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