The latest report for the third quarter of the year, released by global property consultant Cushman & Wakefield, showed that the number of IPs in Ha Noi will increase in the near future.

In the first nine months of the year, the city got 10 new IPs spread over an area of 1,423 hectares. Four of these were fully occupied, while the land area left unused accounted for 31.5 per cent of the total, a 0.5 per cent decrease over the previous quarter.

The IPs include the Hoa Lac High-tech IP, Phu Nghia, Noi Bai (the phase II), South Thang Long, Thach That – Quoc Oai and HANSSIP I. The highest unused land rate of 78 per cent was in the Hoa Lac High-tech IP.

The land rentals in the IPs in the third quarter saw a slight decline of 2.1 per cent to touch VND2.17 million (US$102) per square metre, excluding taxes.

The management fee was $0.2 to $1 per square metre per month. However, the average rental in the city’s IPs is the highest compared with the other cities and provinces in the north.

Twenty-one countries and territories are investing in Ha Noi’s IPs, focusing on support industries, mechanics and electronics which require high-quality human resources. Japan, mainland China and Hong Kong lead the investments in the capital.

By the end of June this year, the IPs had attracted 550 projects with a total investment of $5.3 billion. Of these, 300 were foreign direct investment projects with a total registered capital of $4.7 billion.

Cushman &Wakefield Viet Nam forecast that the demand for available warehouses will increase greatly in the near future as several foreign companies will come to Viet Nam to take advantage of the cheap labour costs.

It added that the IP supply in Ha Noi is relatively higher than in HCM City, which is estimated to have 12 new IPs spread over 3,000 hectares, an 85 per cent increase against the current number.