Vietnam warehouse supply grows by 31% in 2024

Occupancy rates exceeded 80%.

With a strong e-commerce sector and growing FDI, Savills said demand for warehousing and ready-built industrial space in Viet Nam has surged. In 2024, ready-built factory and warehouse (RB) supply increased by 31%, with occupancy rates exceeding 80% in major zones. 

The SEZ, with its logistical advantages, is particularly favoured for its competitive costs and strategic location, catering to both domestic and international occupiers.

Warehousing costs in Viet Nam remain attractive, averaging US$5.6 per square

metre, appealing to companies using the “China +1” strategy. Developers are responding to demand by introducing modern, high-tech facilities, including eco-friendly options that align with global standards. 

Government support for logistics, through investments in multimodal transport options and dedicated logistics zones, complements this growth, positioning Viet Nam as a preferred location for efficient and cost-effective industrial solutions.

“Over 44% of new manufacturing FDI capital in 9M/2024 came from value-added

products such as electronics and electrical equipment, which perfectly emphasises

Viet Nam’s move up the value chain”, according to John Campbell, Director, Head of Industrial Services, Savills Vietnam.