Among these sectors, e-commerce, data centres, and high-tech manufacturing are emerging as key engines, directly shaping the market’s development trajectory.
E-commerce drives demand for modern warehousing
The rapid expansion of e-commerce is having a direct impact on demand for industrial real estate, particularly in the warehousing and logistics segment. According to Savills, Viet Nam’s e-commerce market is projected to reach 26–28 billion USD in 2025. In the first nine months of 2025 alone, four major platforms — Shopee, TikTok Shop, Lazada, and Tiki — recorded a combined gross merchandise value of 11.62 billion USD, up 34.4% year on year.
The report also notes that more than 7,000 new sellers entered the market in the first half of 2025, underscoring intensifying competition. In this context, platforms are shifting their focus from expanding market share to optimising operational efficiency, with warehousing and order fulfilment systems playing a pivotal role.
The trend is driving demand for modern logistics models such as fulfilment centres, technology-integrated warehouses, and rapid delivery systems. Industrial parks located near Ho Chi Minh City, Ha Noi, and key industrial corridors are clearly benefiting, as businesses prioritise shorter delivery times and last-mile cost optimisation.
Semiconductor industry expands beyond assembly to higher-value segments
Viet Nam’s semiconductor industry is entering a phase of expansion, both in scale and in its depth within the value chain. The National Semiconductor Strategy, approved at the end of 2024, aims to position Viet Nam as a more integral link in the global supply chain — moving from assembly and testing towards advanced packaging, chip design, and selected manufacturing segments.
Between 2023 and 2025, Viet Nam recorded 11.6 billion USD in new investment in semiconductors and high-value electronics. The assembly and testing segment alone attracted approximately 3 billion USD in registered capital, with participation from numerous major investors.
At the same time, the Government has allocated 1.05 billion USD for semiconductor industry development in the 2024–2030 period and 670 million USD for workforce training. A key milestone is expected in 2026, when Viet Nam’s first chip fabrication plant is scheduled to commence operations.
This expansion is generating new demand for industrial real estate — not only standard factory space but also large land banks, stable technical infrastructure, reliable power supply, and facilities for research and development. As a result, specialised industrial clusters are beginning to take shape, replacing the traditional industrial park model.
Electric vehicles and supply chains generate new demand
Alongside semiconductors, the electric vehicle (EV) industry is emerging as a significant driver of industrial real estate. The report indicates that Viet Nam’s EV market reached an estimated 3.2 billion USD in 2025, supported by policy incentives, domestic demand, and shifts in consumer behaviour.
Notably, in the first half of 2025, battery electric vehicles accounted for 42 per cent of total new car sales — among the highest rates globally. This trend is creating strong pull effects across the domestic manufacturing supply chain, particularly in components, batteries, and electronics.
The growth of the EV industry is generating demand not only for assembly plants but also for industrial parks capable of integrating supply chains, from component manufacturing to logistics and technical services. Industrial zones located near manufacturing hubs, seaports, and major industrial corridors are seeing clear benefits.
Data centres link industrial real estate with digital infrastructure
The Savills report also highlights Viet Nam’s accelerated development of digital infrastructure to meet rising demand from artificial intelligence, cloud computing, and data services. This is creating a new layer of demand for industrial real estate, particularly in areas with advantages in technical infrastructure and connectivity.
As of 2025, Viet Nam had 41 operational data centres with a total capacity of approximately 524.7 MW, marking a sharp increase compared with the previous year. Capacity is forecast to approach 950 MW by 2030. The Asia Direct Cable submarine fibre-optic line, scheduled to become operational in 2025, is also expected to significantly enhance international connectivity.
Data centres impose requirements entirely different from those of traditional factories, ranging from stable power supply and specialised technical infrastructure to long-term scalability. As a result, this segment is concentrated in only a limited number of industrial parks capable of meeting such standards, thereby intensifying market segmentation.
The report further notes that the market will continue to differentiate by sector and by the capabilities of individual industrial parks. Projects able to meet the specific demands of e-commerce, data centres, and high-tech manufacturing will hold a clear advantage in attracting tenants.
With major infrastructure projects expected to be completed from 2026 onwards, alongside the continued expansion of semiconductors, data centres, electric vehicles, and sustainability requirements, Viet Nam is entering a new growth cycle — one in which scale is matched by quality.
