▶ Haiphong, Thanh Hoa, and Tay Ninh on the rise — South Korean firms shift focus as Vietnam's industrial belts undergo restructuring
▶ RSQUARE VIETNAM publishes its '2026 Q1 Vietnam Commercial Real Estate Market Report,' the second installment in its quarterly series
▶ Emerging industrial belts across Northern, Central, and Southern Vietnam surge, while traditional hubs enter a maturing phase
Vietnam's economy continues to show robust momentum this year. GDP growth reached 8.39% in Q2 2026, accelerating from 7.94% in Q1. Manufacturing and construction remain the primary drivers of expansion, supported by active public infrastructure investment and continued industrial park development. The World Bank recently reclassified Vietnam as an Upper-Middle Income Country, with projections suggesting the country could overtake Thailand this year to become ASEAN's third-largest economy.
Expanding Manufacturing and Semiconductor Investment Reshapes Industrial Real Estate
Global corporations continue to ramp up investment. LG Group plans to invest 1 billion USD in Haiphong, Northern Vietnam, to build a semiconductor substrate manufacturing plant. Fueled by growing investment from global semiconductor leaders, Northern Vietnam is rapidly emerging as a new cluster for packaging, testing, and semiconductor components. As Vietnam evolves from a straightforward manufacturing base into a core node within advanced global manufacturing and supply chains, its industrial real estate landscape is undergoing structural change.
Against this backdrop, RSQUARE VIETNAM published its 'Q1 2026 Vietnam Commercial Real Estate Market Report: Industrial Belt Restructuring and Corporate Location Strategies.' This marks the second installment in a quarterly series launched in March, designed to track shifts across the office and industrial real estate markets and support corporate investment and location decisions.
According to the report, released on the 23rd, growth in Vietnam's industrial real estate market has been concentrated notably in emerging industrial belts rather than in traditional core hubs.
In the North, industrial park rents rose in Haiphong (+13.8%), Ha Nam (+11.4%), and Hai Duong (+7.8%), strengthening their position as competitive manufacturing bases. In Central Vietnam, rents increased across every location surveyed, led by Thanh Hoa (+15.9%), Binh Thuan (+12.6%), and Da Nang (+10.5%). In the South, Tay Ninh (+13.0%) and Binh Phuoc (+11.0%) posted similarly strong rental growth, establishing themselves as new industrial strongholds. By contrast, traditional hubs such as Ho Chi Minh City, Dong Nai, and Binh Duong showed stable movement — a sign that these markets are entering a mature phase.
The office market showed divergence by submarket rather than city-wide trends. In Ho Chi Minh City, Districts 7 and 2 recorded sustained rental growth and falling vacancy rates, while other submarkets faced heightened competition from new supply. Hanoi likewise saw limited overall rental movement but significant variation in available space by area — underscoring the growing importance of micro-location analysis.
Data, Local Talent, and Industrial Networks: Evolving Into an Entry Platform for Vietnam
The report draws on a proprietary database of over 50,000 commercial and industrial real estate records compiled on the ground by RSQUARE VIETNAM. The firm continuously tracks market dynamics through field-based data collection, including landlord interviews, leasing surveys, and transaction analysis.
Underpinning this data advantage is RGTE (RSQUARE Global Talent Exchange), a specialized talent development program. Through this initiative, RSQUARE recruits Vietnamese professionals with education experience in South Korea, trains them at its Seoul headquarters, and deploys them to its local subsidiary. Top performers in Vietnam are later brought back to headquarters for manager-level development — cultivating experts equipped with both Korean operational standards and local market expertise.
Operational results continue to grow. Within five years of entering the market, RSQUARE VIETNAM has surpassed 1 million m² in cumulative transaction area across more than 350 deals spanning offices, factories, and coworking spaces. Beyond leasing advisory, the firm has expanded into transaction advisory, interior construction, and asset consulting — offering an end-to-end service model for companies entering Vietnam.
RSQUARE VIETNAM plans to continue publishing quarterly market reports to systematically track developments across Vietnam's commercial real estate market, drawing on its local data and network to support investment and location strategies for South Korean and global enterprises.
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▶ Haiphong, Thanh Hoa, and Tay Ninh on the rise — South Korean firms shift focus as Vietnam's industrial belts undergo restructuring
▶ RSQUARE VIETNAM publishes its '2026 Q1 Vietnam Commercial Real Estate Market Report,' the second installment in its quarterly series
▶ Emerging industrial belts across Northern, Central, and Southern Vietnam surge, while traditional hubs enter a maturing phase
Vietnam's economy continues to show robust momentum this year. GDP growth reached 8.39% in Q2 2026, accelerating from 7.94% in Q1. Manufacturing and construction remain the primary drivers of expansion, supported by active public infrastructure investment and continued industrial park development. The World Bank recently reclassified Vietnam as an Upper-Middle Income Country, with projections suggesting the country could overtake Thailand this year to become ASEAN's third-largest economy.
Expanding Manufacturing and Semiconductor Investment Reshapes Industrial Real Estate
Global corporations continue to ramp up investment. LG Group plans to invest 1 billion USD in Haiphong, Northern Vietnam, to build a semiconductor substrate manufacturing plant. Fueled by growing investment from global semiconductor leaders, Northern Vietnam is rapidly emerging as a new cluster for packaging, testing, and semiconductor components. As Vietnam evolves from a straightforward manufacturing base into a core node within advanced global manufacturing and supply chains, its industrial real estate landscape is undergoing structural change.
Against this backdrop, RSQUARE VIETNAM published its 'Q1 2026 Vietnam Commercial Real Estate Market Report: Industrial Belt Restructuring and Corporate Location Strategies.' This marks the second installment in a quarterly series launched in March, designed to track shifts across the office and industrial real estate markets and support corporate investment and location decisions.
According to the report, released on the 23rd, growth in Vietnam's industrial real estate market has been concentrated notably in emerging industrial belts rather than in traditional core hubs.
In the North, industrial park rents rose in Haiphong (+13.8%), Ha Nam (+11.4%), and Hai Duong (+7.8%), strengthening their position as competitive manufacturing bases. In Central Vietnam, rents increased across every location surveyed, led by Thanh Hoa (+15.9%), Binh Thuan (+12.6%), and Da Nang (+10.5%). In the South, Tay Ninh (+13.0%) and Binh Phuoc (+11.0%) posted similarly strong rental growth, establishing themselves as new industrial strongholds. By contrast, traditional hubs such as Ho Chi Minh City, Dong Nai, and Binh Duong showed stable movement — a sign that these markets are entering a mature phase.
The office market showed divergence by submarket rather than city-wide trends. In Ho Chi Minh City, Districts 7 and 2 recorded sustained rental growth and falling vacancy rates, while other submarkets faced heightened competition from new supply. Hanoi likewise saw limited overall rental movement but significant variation in available space by area — underscoring the growing importance of micro-location analysis.
Data, Local Talent, and Industrial Networks: Evolving Into an Entry Platform for Vietnam
The report draws on a proprietary database of over 50,000 commercial and industrial real estate records compiled on the ground by RSQUARE VIETNAM. The firm continuously tracks market dynamics through field-based data collection, including landlord interviews, leasing surveys, and transaction analysis.
Underpinning this data advantage is RGTE (RSQUARE Global Talent Exchange), a specialized talent development program. Through this initiative, RSQUARE recruits Vietnamese professionals with education experience in South Korea, trains them at its Seoul headquarters, and deploys them to its local subsidiary. Top performers in Vietnam are later brought back to headquarters for manager-level development — cultivating experts equipped with both Korean operational standards and local market expertise.
Operational results continue to grow. Within five years of entering the market, RSQUARE VIETNAM has surpassed 1 million m² in cumulative transaction area across more than 350 deals spanning offices, factories, and coworking spaces. Beyond leasing advisory, the firm has expanded into transaction advisory, interior construction, and asset consulting — offering an end-to-end service model for companies entering Vietnam.
RSQUARE VIETNAM plans to continue publishing quarterly market reports to systematically track developments across Vietnam's commercial real estate market, drawing on its local data and network to support investment and location strategies for South Korean and global enterprises.