JLL marks 20 years in Vietnam as property market expands

JLL has marked 20 years in Vietnam, a milestone that reflects its expansion in one of Southeast Asia's fastest-growing property markets.

The firm entered Vietnam in 2006 and has grown to about 350 staff across Ho Chi Minh City and Hanoi. Its local team now covers leasing, capital markets, valuation advisory, research, property and facility management, and project and development services.

The anniversary comes as Vietnam's real estate market has broadened beyond its earlier focus on office and residential projects. Activity now spans industrial parks in the country's northern and southern economic zones, logistics, integrated townships and, more recently, data centres.

Sustainability has also become a bigger factor in investment and occupier decisions. That shift coincides with broader national economic targets, including 10% annual GDP growth through 2030 and high-income country status by 2045.

JLL-cited market forecasts suggest more external capital could flow into Vietnam if the country is upgraded to secondary emerging market status. Estimates from the World Bank and FTSE Russell indicate such a move could unlock USD $3 billion to USD $5 billion in short-term portfolio flows and lead to USD $25 billion in foreign indirect investment by 2030.

At the same time, Vietnam is targeting USD $40 billion to USD $50 billion in foreign direct investment each year through 2030. The focus is on high-technology, research and development, artificial intelligence and semiconductor projects, all of which are likely to shape demand for land, industrial property and specialist real estate.

Market shifts

Vietnam's commercial real estate investment market recorded USD $1.1 billion in 2025, which JLL described as a record year based on data compiled by MSCI Real Assets. As the market has developed, clients have sought more detailed, evidence-based advice from advisers.

JLL said it ranked first in Vietnam real estate investment advisory by MSCI Real Assets in 2025, with hotel transactions contributing to that result. The ranking reflects rising expectations from developers, occupiers and investors as the market becomes more complex.

Vietnam has become a greater focus for property groups and investors tracking manufacturing supply chains, logistics demand and urban growth across the region. Demand for industrial and logistics assets has drawn particular attention as global companies look to diversify production bases and strengthen regional distribution networks.

The growth of data centre activity also signals a shift in the market's profile. Alongside traditional asset classes such as offices and housing, newer sectors tied to digital infrastructure and advanced manufacturing are becoming more prominent in investor discussions.

Michael Glancy, Chief Executive Officer, Southeast Asia & Singapore, JLL, said: "Congratulations to our Vietnam business on its 20th anniversary, a significant milestone that reflects JLL's long-term commitment to one of the world's fastest-growing economies."

He added: "As Vietnam continues to strengthen its role in the regional economy, we remain confident in its long-term potential and committed to investing in our people, capabilities and client solutions to support the market's next phase of growth."

Trang Le, Country Head, Vietnam, JLL, said: "This milestone reflects the trust our clients and partners have placed in us over the past 20 years, and the dedication of generations of JLL employees who have helped build our business in Vietnam."

She added: "On behalf of JLL Vietnam, I would like to sincerely thank everyone who has been part of our journey. As we celebrate this milestone, we remain focused on helping our clients navigate change, seize new opportunities and make informed real estate decisions in an increasingly dynamic market."