The increasing number of enterprises in Da Nang could increase demand for office space in the central city, says a report released by real estate service firm Savills Vietnam.
The report says the number of new enterprises established in Da Nang has risen steadily for more than five years now. It quotes the city's statistics office as saying 2,100 new enterprises were licensed in 2009, an increase of 23 percent compared to the previous year.
Overseas Vietnamese own almost 60 companies in Da Nang with 500 million USD in registered capital and this has had an impact on the local office market, according to the company's Q2 report.
Currently, there are 21 office buildings with a total area of over 66,000sq.m with the addition of the Lilama L7 SJC building. This marks an increase of approximately three percent over the first quarter.
Da Nang 's office buildings are concentrated in the two districts of Hai Chau and Thanh Khe. The former, being the administrative centre, accounts for 80 percent of the total supply.
Most existing office buildings are in the medium range and managed by the local developers themselves.
In the second quarter of this year, average rent was 11 USD per square metre per month, a six percent fall over the previous quarter.
Since it has a much larger supply, Hai Chau district is considered to have performed better than Thanh Khe although the latter boasts higher occupancy rates.
Savills anticipates that approximately 94,000 square metres of office from about 14 projects will enter the Da Nang market over the next five to seven years.
More than two-thirds of the office space entering the market will be situated in Hai Chau, followed by Son Tra district.
Two new villa projects come online during Q2: Dune Residence with 15, and Vinpearl Da Nang with 39.
Currently, there are eight villa projects of more than 600 villas for sale, mostly located along Da Nang Beach in Ngu Hanh Son district.
Two new apartments-for-sale projects entered the market in the second quarter, bringing the total in this segment to 11 projects with 2,300 units.
To date, Indochina Tower and Da Nang Plaza are the only two projects that have completely sold out. The apartments-for-sale market is concentrated in four districts: Hai Chau, Thanh Khe, Ngu Hanh Son and Son Tra.
The apartments are being sold at 750 – 3,000 USD per sq.m while the villas cost from 800-3,900 USD per sq.m./.
The report says the number of new enterprises established in Da Nang has risen steadily for more than five years now. It quotes the city's statistics office as saying 2,100 new enterprises were licensed in 2009, an increase of 23 percent compared to the previous year.
Overseas Vietnamese own almost 60 companies in Da Nang with 500 million USD in registered capital and this has had an impact on the local office market, according to the company's Q2 report.
Currently, there are 21 office buildings with a total area of over 66,000sq.m with the addition of the Lilama L7 SJC building. This marks an increase of approximately three percent over the first quarter.
Da Nang 's office buildings are concentrated in the two districts of Hai Chau and Thanh Khe. The former, being the administrative centre, accounts for 80 percent of the total supply.
Most existing office buildings are in the medium range and managed by the local developers themselves.
In the second quarter of this year, average rent was 11 USD per square metre per month, a six percent fall over the previous quarter.
Since it has a much larger supply, Hai Chau district is considered to have performed better than Thanh Khe although the latter boasts higher occupancy rates.
Savills anticipates that approximately 94,000 square metres of office from about 14 projects will enter the Da Nang market over the next five to seven years.
More than two-thirds of the office space entering the market will be situated in Hai Chau, followed by Son Tra district.
Two new villa projects come online during Q2: Dune Residence with 15, and Vinpearl Da Nang with 39.
Currently, there are eight villa projects of more than 600 villas for sale, mostly located along Da Nang Beach in Ngu Hanh Son district.
Two new apartments-for-sale projects entered the market in the second quarter, bringing the total in this segment to 11 projects with 2,300 units.
To date, Indochina Tower and Da Nang Plaza are the only two projects that have completely sold out. The apartments-for-sale market is concentrated in four districts: Hai Chau, Thanh Khe, Ngu Hanh Son and Son Tra.
The apartments are being sold at 750 – 3,000 USD per sq.m while the villas cost from 800-3,900 USD per sq.m./.
