Korean, Japanese firms eye Vietnam’s real estate market
7/29/19 1:43 PM
Illustrative image (Source: VNA)
The real estate sector has announced a number of joint venture projects with the Republic of Korea (RoK) and Japan in the past three years.
According to Reatimes – a real estate online magazine in Vietnam, Korean construction and property investors are considering Vietnam the second biggest market to boost investment.
The latest data from the Bank of Korea show that Korean investors poured 56.1 million USD into Vietnam last year. This figure was only after the US with 155.2 million USD.
At present, a series of well-known businesses from the RoK such as Lotte E&C, SK, and GS E&C are busy operating across Vietnam.
They collaborate with Vietnamese partners to develop many housing and infrastructure projects.
Director General of the GS E&C Cho Sung Yol said his company pays special attention to the future of the Vietnamese market, especially building smart supermarkets and landing investment in infrastructure.
Apart from the RoK, Japanese construction businesses are particularly interested in infrastructure in Vietnam besides residential property products.
One of the advantages of Japanese construction real estate firms is pursuing official development assistance (ODA) programmes.