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Bac Ninh leads industrial property supply in the north

The northern province of Bac Ninh remains a bright spot in the industrial property market in the north, taking the lead in supply and demand for industrial activities, said experts from Savills Vietnam.

Despite COVID-19 pandemic, occupancy rate of industrial property in several provinces in northern key economic region remains stable, amounting to 87 percent of the total and 20,567ha up for lease, up 2.35 percent annually. Bac Ninh and Hanoi continue leading the region.

With 15 projects, Bac Ninh led the northern key economic region with 5,797ha of industrial parks (IPs) and average occupancy rate of 99 percent. It also recorded the largest number of approved projects in the first quarter this year with five IPs to be built.

Its supply of factories and warehouses was also 10.25 percent higher than the country’s. It was followed by Hai Phong with 7.61 percent, Hai Duong 4.78 percent and Thai Nguyen 4.61 percent.

The capital city of Hanoi witnessed a slight increase of 1 percent, reaching 91 percent in occupancy rate with 13 projects, ranking second in the region, ahead of Hai Duong with 86 percent, Vinh Phuc and Hung Yen each 88 percent.

Manager of Savills Vietnam Industrial Services John Campbell expressed his belief that lease activities will be more effective next year with more supplies when social distancing order in several areas is lifted.

Le Huy Dong, Manager of Industrial Services at Savills Hanoi highlighted huge potential of IPs in the north as a number of new foreign-invested enterprises seek land at reasonable rent prices and areas with abundant supply of land./