Along with forecasts of increased leasing demand, analytical reports also point to various pressures on industrial park developers. These include site clearance costs, material prices, and tariff risks from the US market.
Business results for the first half of 2026
According to SSI Research, the net revenue of industrial park enterprises in the first 6 months of 2026 decreased by 20.2% year-on-year, to approximately 38 trillion VND. Net profit fell by 40%, to about 4 trillion VND.
The report cites three reasons. Some enterprises did not record large land sale transactions during the period. Interest expenses increased. Some units shifted to recording land rental revenue distributed evenly over time.
Rising land and material costs
SSI Research states that compensation and site clearance are increasing investment costs for new industrial parks. The process of rearranging administrative units and changing boundaries also impacts compensation costs.
Regarding materials, the prices of sand, stone, cement, and leveling materials have increased by approximately 20% year-on-year, according to the same report.
Lower profit margins for new projects
According to SSI Research estimates, the profit margin for new industrial park projects is around 30–35%. Existing industrial parks have profit margins of over 50%.
Bao Dau Tu Chung Khoan cited the report as saying that many new industrial parks may become operational later than planned, pushing the timeline to around the fourth quarter of 2026 to the first half of 2027.
Rental prices forecast to remain flat
SSI Research forecasts that industrial park land rental prices in 2027 will not increase significantly. New industrial parks may offer competitive pricing to secure their first major tenants early. The pressure on rental prices combined with rising input costs is a factor directly affecting the efficiency of new projects.
Tariff risks
According to analyses published on CafeF and Bao Dau Tu Chung Khoan, Vietnamese goods are subject to an additional 12.5% import tax under Section 301 of the US. This rate is higher than the 10% applied to Bangladesh, India, and Indonesia.
If the US imposes further trade measures following ongoing investigations, labor-intensive industries such as textiles, footwear, and furniture could be affected. These are also tenant groups with significant demand for industrial park land.
Source compiled from: SSI Research, Fiinpro data (via Bao Dau Tu Chung Khoan – tinnhanhchungkhoan.vn, article “Industrial real estate: Expecting acceleration from 2027”, dated October 9, 2026; CafeF/Nhip song thi truong, article “Industrial real estate market faces growth opportunities and cost pressures”, dated October 9, 2026).
