- Total industrial land supply in the Northern Key Economic Zone as of Q3 2024 reached 16,700 ha, up 1.7% QoQ and 16.0% YoY.
- Average rental price of Ready-built Factory was recorded at USD 4.9/m2/month, stable QoQ and up 2.1% YoY.
- Total net absorption of Ready-built warehouse was recorded at approximately 85,000 m2 in Q3 2024, down 20.3% QoQ and 23% YoY.
In Q3 2024, two new industrial park (IP) projects were deployed in the Northern Key Economic Zone (NKEZ): Gia Binh II (Bac Ninh) and Luong Dien - Ngoc Lien (Hai Duong), providing about 274 hectares of IP land for lease to the market. Thanks to the advantage of location, constantly improving infrastructure and positive market sentiment, the Northern provinces still maintained growth momentum with a total net absorption area of 158 hectares in the quarter.
The total RBF supply of the Northern Key Economic Zone as of Q3 2024 reached more than 4.0 million m2, up 5.9% QoQ and 21.3% YoY. In particular, thanks to the abundant FDI capital flowing into the provinces of the Northern Key Economic Zone, the total net absorption area of RBF remained high, at about 178,000 m2.
Total net absorption of RBW is recorded at approximately 85,000 m2 in Q3 2024, with the two main drivers being Bac Ninh province and Hai Phong city - two major logistics hubs in the Northern region, leading the leasing demand with rates of 51% and 28% respectively.
Download the report with more insights from Cushman & Wakefield experts.
