Over US$600 million of FDI poured into property in 5 months
6/14/17 4:02 PM
Vietnam’s real estate market attracted over US$600 million in foreign direct investment in the first five months of this year, according to the General Statistics Office.
The figure represented a nearly two-fold increase against the same period last year.
In the period, the market saw the participation of 1,859 new enterprises, up 72.8% in number and 43.8% in capital year-on-year.
Last year, Vietnam’s real estate sector lured about US$1.3 billion, making up 10% of total FDI poured into the country.
According to the Vietnam National Real Estate Association, as of May, FDI in the market hit nearly US$52.7 billion, with 65% of which, or US$40 billion, being poured into resort projects.
The resort property is attractive to foreign investors thanks to the rising number of tourists to the country. During January-May, the country welcomed 5.2 million foreign arrivals, a year-on-year rise of 29.6%.
Not only foreign investors, many domestic groups are also investing in resort projects nationwide, including famous names such as FLC and VINGROUP, which own luxury resorts namely FLC Sam Son, FLC Quy Nhon, Vinpearl Nha Trang, and Vinpearl Phu Quoc.