The Hanoitimes - Ho Chi Minh City`s real estate industry saw a significant amount of foreign direct investment (FDI) in the first six months of 2018.
The real estate industry in the city attracted remarkable wave of FDI with 19 projects and total investment worth US$123.8 million, second only to the processing and manufacturing industry with 20 projects and investment reaching US$125.2 million in total, a latest report by HCMC Statistics Office showed.
Though foreign investment in the sector in the last six months did not surpass that of the three recent comparable periods, the figure was up 146% year-on-year.
As reported, from early 2018 to June 15, the city had 437 FDI projects licensed, up 22.8% year-on-year, with total registered capital of US$444 million, surging by 13.2% over the same period last year.
At the same time, 124 projects had investment adjusted with total capital reaching US$414.8 million. As of June 15, the total newly-licensed registered capital and adjusted one hit US$858.8 million, up 14% on a yearly basis.
Real estate, one of the fourth largest contributors to HCMC’s GRDP, posted a growth of 5.32% year-on-year in the last six months, contributing 8% to the city’s gross regional domestic product (GRDP).
During the last two quarters, the industry witnessed the speculation that caused an unusual rise in land prices at times. The phenomenon scattered across some areas, especially in districts 2, 9 and Thu Duc.