Vietnamplus

After announcing plans to expand its presence in Singapore, co-working space provider WeWork set to open two new locations in Vietnam before the end of the year.

UK based Workthere, a website listing platform and brokerage services, has entered the Vietnamese market to help businesses find flexible, co-working and serviced office spaces in a country where co-working has expanded rapidly.

Prices of Grade A offices in the capital have been forecast to rise over the next three years by seven per cent annually due to low supply.

The office market in Ho Chi Minh City continued stable growth in the first half of this year, with some increases in rental prices and areas, according to major property consultant firms.

The flexible office market in HCM City comprising co-working and serviced offices is among the fastest growing in the Asia Pacific, market researchers said.

Co-working space in Vietnam is growing in terms of both suppliers and types of co-working spaces targeting specific renters, real estate service provider CBRE Vietnam said on May 29.

With both local and international operators strongly expanding into co-working in Vietnam, the industry is expected to develop rapidly, experts have said.

US President Barack Obama discussed the status of the TPP trade agreement and Vietnam’s entrepreneurial growth during a talk with 100 young businesspeople in Ho Chi Minh City on May 24.