Vietnam's graft-plagued property sector seen recovering in 2024

Despite $12.5bn embezzlement case, factory land demand booming, estate agent says

20231205 vietnam property

Vietnam's property sector is grappling with a $12.5 billion alleged bribery and embezzlement case that may be the country's biggest. (Photo by Lien Hoang)

LIEN HOANG, Nikkei staff writer

HO CHI MINH CITY -- Record criminal cases in Vietnam's property sector hit investor confidence, but demand for factory land is booming amid supply chain shifts, with the real estate industry seen recovering in 2024, said an international property services company.

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