SLP charts strategic path through Vietnam’s industrial real estate market

How do you assess the performance of Vietnam’s industrial real estate market in 2025?

2025 has been a year of adjustment and resilience for Vietnam’s industrial real estate market. Given the shifting dynamics of global trade and supply chains, it has been a challenging period, particularly as foreign direct investment (FDI) remains the primary growth driver of the market.

While growth momentum slowed in the first half of the year amid global economic turbulence, the market is showing clear signs of recovery and stabilisation. Vietnam’s consistent macroeconomic policy, proactive diplomacy, and stable investment and political environment have played a key role in restoring investor confidence. The back-on-track momentum is increasingly evident, driven by ongoing supply chain diversification, government support for manufacturing and infrastructure development, and sustained interest from multinational corporations seeking long-term production bases in Vietnam.

How has SLP navigated Vietnam’s industrial real estate landscape amid turbulence in the global economy?

At SLP, we have remained focused and disciplined in our approach to navigating the current market environment. Our priority is to strengthen relationships with our existing customer base. Most of our tenants have long-term plans in Vietnam, and while short-term macroeconomic headwinds may temporarily affect their operations, their overall strategic commitment to the country remains firm. We continue to support them as they expand their footprint and optimise operations.

In parallel, we are diversifying our customer portfolio through new channels and networks, with a particular emphasis on domestic enterprises that are emerging as significant drivers of industrial demand. Additionally, SLP has introduced a range of commercial and operational initiatives designed to enhance customer experience, providing greater certainty, flexibility, and comfort in their partnership with us. This customer-centric approach has helped SLP maintain a resilient performance despite global volatility.

Could you tell us about some SLP-invested projects underway and in the pipeline?

We are very proud that SLP continues to lead the market in terms of operational performance. Our portfolio has achieved an average lease ratio exceeding 91 per cent, reflecting both the quality of our assets and the confidence of our customers.

Building on this strong foundation, SLP plans to commence the construction of several new projects next year. These developments are aligned with our long-term vision to expand in key strategic locations and support both foreign and domestic manufacturers who view Vietnam as a favourable and sustainable investment destination. Our continued pipeline growth underscores our confidence in Vietnam’s industrial and logistics real estate potential.

SLP Park Bac Ninh reached over 95 per cent occupancy in just over 6 months, demonstrating SLP’s capability in delivering high-demand industrial and logistics facilities.

What are the factors contributing to the success of SLP’s projects in Vietnam?

Quality, consistency, and customer know-how are the main factors that we focus on.

From the outset, SLP has prioritised delivering world-class facilities built to international standards. The quality of our developments has been proven in practice, not only through strong customer satisfaction but also through performance under challenging conditions. Our facilities have demonstrated exceptional resilience during recent extreme weather events in northern Vietnam, ensuring uninterrupted operations for our tenants – a critical factor in maintaining supply chain stability.

Equally important is the consistency of quality and service across our entire portfolio. SLP applies the same rigorous standards to every project, ensuring that customers experience reliability and excellence at each location.

Moreover, our deep industry knowledge and customer understanding enable us to streamline the onboarding and operational processes, reducing lead times, simplifying licensing, and providing comprehensive technical guidance. This integrated approach allows SLP to deliver facilities that not just meet, but anticipate the operational and sustainability needs of our customers.

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