Savills Vietnam: HCM City’s office lease market recovering
Hanoi (VNA) – The office lease
market in Ho Chi Minh City is recovering, with
hybrid working model comprising both remote and office-based work emerging as a bright
spot, according to experts from Savills Vietnam.
Director of Savills Vietnam Commercial Leasing Tu Thi Hong An said while
co-working model is growing slowly, hybrid working spaces are proving effective
to optimise operating cost and maintain working productivity amid limited
supply in the downtown.
Commenting on the outlook for the office market in the near future, the
company said by 2015, additional 550,000 sq.m from 21 new projects will be
available, with 11 projects outside the downtown accounting for 48 percent
of the total area. Four A-class projects will enter the market from 2023 with
an average floor area of 67,000 sq.m each, equivalent to 49 percent of the
supply in the future.
According to the municipal Centre for Forecasting Manpower Needs and Labour
Market, employment demand this year will be 310,000 if the pandemic is under
control, mostly in the fields of commerce, real estate and electronics. Together
with information technology and communications, they also attracted the most
new and additional foreign direct investment last year. Therefore, they are
expected to spur demand for leasing offices and also co-working spaces
this year./.