27 February 2026
Savills Vietnam’s 2025 Industrial Property Spotlight report indicates that the market is entering a clear phase of demand restructuring. Rather than broad-based growth as seen previously, demand is now concentrated in several specific sectors, each requiring higher standards of infrastructure, location and operational capability. Among these, e-commerce, data centers, and high-tech manufacturing industries are emerging as key drivers, directly shaping the market’s development trajectory.
According to Mr John Campbell, Director of Industrial Services, Savills Vietnam, the report’s data reflects a market transition:
“Current demand is closely tied to the operational requirements of each industry, rather than simply expanding in scale as before.”
Rapid e-commerce growth is directly affecting industrial real estate, particularly the logistics and warehousing segment. Savills projects Viet Nam’s e-commerce market could reach USD 26–28 billion by 2025. In the first nine months of the year, four major platforms, Shopee, TikTok Shop, Lazada and Tiki, recorded a combined gross merchandise value of USD 11.62 billion, up 34.4% year on year.
Vietnam’s e-commerce revenue forecast for the period 2021-2028
More than 7,000 new sellers entered the market in the first half of 2025, highlighting intensifying competition. In response, platforms are shifting focus toward operational efficiency, with warehousing and order fulfilment systems becoming central components.
This trend is increasing demand for modern logistics models such as fulfilment centres, technology-integrated warehouses and rapid delivery networks. Industrial parks located near Ho Chi Minh City, Ha Noi and key manufacturing corridors are seeing clear benefits as companies prioritise faster delivery times and last-mile cost optimisation.
The semiconductor sector is expanding both in scale and depth within the supply chain. The national semiconductor strategy approved in late 2024 aims to position Viet Nam as a more important link in the global supply chain, progressing from assembly and testing to advanced packaging, chip design and selected manufacturing segments.
Between 2023 and 2025, Viet Nam recorded USD 11.6 billion in new investment in semiconductors and high-value electronics. Assembly and testing alone accounted for approximately USD 3 billion in registered capital, with participation from several major investors.
The government has also allocated USD 1.05 billion for semiconductor development during 2024–2030 and USD 670 million for workforce training. A notable milestone is expected in 2026, when the country’s first chip fabrication plant begins operations.
This expansion is creating new requirements for industrial real estate, extending beyond standard factories to include large land plots, stable technical infrastructure, reliable power supply and research and development space. As a result, specialised industrial clusters are emerging in place of the traditional industrial park model.
Alongside semiconductors, the electric vehicle industry is becoming another important market driver. Viet Nam’s EV market is estimated to reach approximately USD 3.2 billion in 2025, supported by policy incentives, domestic demand and changing consumer behaviour.
The share of battery electric vehicle (BEV) sales in total new car sales, first half of 2025
In the first half of 2025, battery electric vehicles accounted for 42% of new car sales, among the highest levels globally. This shift is stimulating domestic manufacturing supply chains, particularly in components, batteries and electronics.
Demand therefore extends beyond assembly plants to industrial parks capable of integrating full supply chains, from component manufacturing to logistics and technical services. Parks located near production hubs, seaports and major industrial corridors are benefiting significantly.
Savills’ report also shows Viet Nam accelerating digital infrastructure development to meet demand from artificial intelligence, cloud computing and data services. This is creating a new layer of demand for industrial real estate, particularly in locations with strong technical infrastructure and connectivity.
As of 2025, Viet Nam has 41 operational data centres with a total capacity of about 524.7 MW, a significant increase year on year. Capacity is forecast to approach 950 MW by 2030. The Asia Direct Cable submarine cable, scheduled to operate from 2025, will also substantially enhance international connectivity.
Unlike traditional factories, data centres require stable power supply, specialised infrastructure and long-term expansion capability. Consequently, this segment is concentrated in only a limited number of industrial parks able to meet these conditions, increasing market differentiation.
Based on the report’s findings, Savills expects the market to continue differentiating by industry and by the capability of each industrial park. Projects able to meet the specific requirements of e-commerce, data centres and high-tech manufacturing will hold a clear advantage in attracting tenants.
Mr John Campbell commented:
“Viet Nam’s industrial real estate is entering a new phase where competitive advantage no longer lies in land bank size, but in infrastructure readiness, operational capability and the ability to serve high-value industries.”
With major infrastructure projects scheduled for completion from 2026, together with the expansion of semiconductors, data centres, artificial intelligence, electric vehicles and stronger sustainability requirements, Viet Nam is moving into a new growth cycle where scale is accompanied by quality.
