Minister of Construction Pham Hong Ha said that the development of the real estate market over the past years has made positive contributions to the rapid and sustainable development of the economy and social welfare of Viet Nam.

Vietbuild 2018 attracted 1,500 pavilions with businesses from 30 nations around the globe showcasing their latest products and services in the construction and real estate fields.

The three-day event will serve as a venue for firms and experts to discuss and share experience in the developmental trends of real estate, the building of green and smart cities, the application of technology in developing real estate, and others.

IREC 2018 got underway after the opening ceremony for Vietbuild Ha Noi 2018, under the theme ‘A World of Opportunities’. A wide range of activities are planned for the event including a conference on the world’s real estate associations, forums on trends in global real estate market development, and investment promotion conferences.

U.S. Ambassador to Viet Nam, Daniel Kritenbrink, talked about the cooperation between Viet Nam and the U.S. to develop smart cities as well as the importance of real estate. He also expressed his belief that Viet Nam has created a favorable legal environment which facilitates the operations of real estate firms.

According to the Foreign Investment Agency, FDI capital poured into Viet Nam's real estate reached beyond US$5.5 billion in the first half of 2018, with real estate becoming the runner-up in FDI attraction after the manufacturing industry.