Record number of firms enter, return to real estate market in Q3: Ministry
A total of 59,559 businesses entered and re-entered the real estate market in the third quarter of 2023, a record number for the period, which represented a rise of 18% year on year, according to head of the Ministry of Construction (MoC)’s Office Dau Minh Thanh.
Hanoi (VNA) – A total of 59,559 businesses entered and re-entered the real estate market in the third quarter of 2023, a record number for the period, which represented a rise of 18% year on year, according to head of the Ministry of Construction (MoC)’s Office Dau Minh Thanh.
Thanh attributed the result to the Government, ministries and sectors’ efforts to remove difficulties for the real estate sector.
To date, an MoC’s working group for removing obstacles facing the real estate market have received 130 reports from localities, businesses, associations and people on difficulties they are facing related to 183 real property projects across the country, the official said at a press conference on October 19. Currently, the working group has responded to 123 reports, he said.
MoC Deputy Minister Nguyen Van Sinh said that the building and completion of institution has been one of the focal tasks of the ministry. The ministry has basically completed the draft Law on Housing and Law on Real Estate Business, which will be submitted to the National Assembly during the sixth session in late October, said Sinh.
At the same time, the ministry has worked with localities to implement planning, which will serve as the basis for the approval of investment projects serving socio-economic development, the official added./.
Real estate attracted 1.94 billion USD in foreign direct investment (FDI) in the first nine months of this year, accounting for about 9.6% of total FDI to Vietnam in the period.
The industrial real estate market in the south was vibrant and thriving in the third quarter, with many ready-built factories and warehouses entering the market, according to real estate research companies.
Businesses, particularly property developers, are under pressure to sell off assets and real estate projects to settle their debts, including bond repayments and bank loans.
The real estate sector is finally emerging from its slumber as the economic recovery in the third quarter of the year has triggered a resurgence of demand for realty properties.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Illustrative image (Source: VNA) 
