Ben Cat Industrial Park in the southern province of Binh Duong. The sudden increase in lease enquiries for land, ready built factories, and warehousing has been accompanied by price escalations in industrial parks (IPs) near major cities. — VNA/VNS Photo Ngoc Ha Industrial property continues to be a hot segment for Viet Nam’s real estate market with mounting enquiries as manufacturers seek to mitigate risk and diversify supply chains, according to Savills Viet Nam. The sudden increase in lease enquiries for land, ready built factories, and warehousing has been accompanied by price escalations in industrial parks (IPs) near major cities. Average occupancy levels increasing significantly since 2018, resulting in a growing supply gap and a clear need for additional development in key industrial provinces. In 2020, Binh Duong was almost fully occupied at 99 per cent and Dong Nai moved up to 94 per cent. Average occupancies were 88 per cent in HCM City, 84 per cent in Long An and 79 per cent in Ba Ria-Vung Tau. In northern areas average occupancies were up to 90 per cent in Ha Noi, 95 per cent in Bac Ninh, 89 per cent in Hung Yen, 82 per cent in Hai Duong…