VILAF’s Counsel Ngan Nguyen recently shared valuable insights on Vietnam’s real estate market and legal landscapes with a business delegation from Malaysia and Singapore at the Asia Real Estate Leaders (AREL) event. Hosted by REHDA Institute, the event took place from 12-15 November 2024 in Ho Chi Minh City.

The discussion highlighted several key policies and regulations shaping Vietnam’s real estate market, aimed at achieving Net Zero emissions by 2050 and promoting sustainable ESG practices. Significant resources will be allocated for infrastructure development and building projects.

The Vietnamese Government is actively working to revive the market through a pilot scheme designed to address obstacles in commercial housing projects and implement a flexible mechanism for land concentration in investment projects. This pilot scheme is proposed to be implemented over a period of five years, starting from 1 January 2025.

There is a notable emphasis on housing development, with ambitious plans to build at least one million social housing units by 2030. Transit-Oriented Developments (TOD) will also be a focus, with more projects being developed in association with public transportation in major cities such as Hanoi and Ho Chi Minh City.

Industrial development continues to be driven by FDI, with a particular emphasis on developing high-tech and green industrial parks.

VILAF remains committed to providing expert legal guidance and support to navigate these evolving landscapes.