dads

Industrial real estate bustles with M&A deals

Created 01 August 2021
  • PDF
Editor Choice
dads
Share
(0 votes, average 0 out of 5)

Logistics and industrial park giants carried out many mergers and acquisitions (M&A) in the first half of this year, despite the Covid-19 outbreaks, according to Savills Vietnam.

Industrial real estate bustles with M&A deals

The real estate consultancy reports that Boustead Projects (Vietnam) Company reached a deal to buy a 49 percent stake in KTG & Boustead Industrial Logistics Joint Stock Company. The deal involves 13 real estate projecs totaling $141 million, including some 840,000 square meters of land and around 550,000 square meters of leasable land.

The ESR Cayman Limited and BW Industrial Development Joint Stock Company joined hands to develop a 240,000-square meter industrial land area in My Phuoc 4 Industrial Park in the southern province of Binh Duong.

The KCN Vietnam Group Joint Stock Company spent $300 million buying back a 250-ha land area. It plans to develop high-end warehouses and ready-built factories in cities and provinces across Vietnam, including Bac Giang, Hai Phong, Hai Duong, Dong Nai and Long An.

John Campbell, manager of industrial services at Savills Vietnam, said along with the M&A, there was significant foreign direct investment (FDI) in production and in industrial parks in Vietnam =n the first half of this year. Most of the fresh FDI in production, $1.97 billion, was poured into the northern region.

However, David Jackson, general director at Colliers Vietnam, another real estate firm, predicted that Vietnam would face some challenges in the second half of this year because of the latest Covid-19 outbreak. He also said that there are still some FDI bottlenecks in industrial real estate, including unsynchronous infrastructure, uncompetitive logistics costs, and inadequate mechanisms and legal regulations.

 

Source: VNE

Maybe You Also Interesting :

» Mixed bag imposing Covid safety regulations in HCMC

Businesses in HCMC are striving to strictly comply with Covid-19 safety regulations to ensure safe reopening, but some have shown negligence.

» Vietnamese apathetic over iPhone 13 mini

iPhone 13 mini seems to be the least favorite model of the latest Apple smartphone lineup, accounting for only 5 percent of total pre-orders in Vietnam.

» Vietnam records 3,159 new local Covid cases

Health authorities confirmed 3,159 new local Covid-19 cases Monday, down 16 cases from previous day, pushing the ongoing wave's tally to 862,532.