Want to be in the loop?
subscribe to
our notification
Business News
MORE AFFORDABLE HIGH-QUALITY OFFICE IN 2016
However, no new Grade A buildings are on sight.
Earlier this year, Grade A office TNR Tower, located on Nguyen Chi Thanh street, entered the market with 52,800 square metres of net lettable area (NLA), boosting Grade A stock by 15 per cent. By the end of the first quarter, the total office space in Hanoi reached approximately 1,158,000 square metres, of which Grade A and Grade B offices account for 36 and 64 per cent, respectively.
As for CBRE, because new projects are offering promotional rental rates below the market average, the average asking rental price of Grade A buildings in the first quarter of 2016 posted a decrease of 4.2 per cent quarter-on-quarter, to $28.1 per square meter per month. Grade B buildings, on the other hand, saw a slight increase of 0.3 per cent quarter-on-quarter.
“Increases in rent occurred mostly in the west, where the infrastructure is well-developed,” said Nguyen Hoai An, director of CBRE Vietnam’s Hanoi branch.
“Rental rates in Grade A buildings, especially in the west and midtown, are becoming more reasonable, which enables tenants to lease high-quality office spaces for the same budget as Grade B buildings in the central business district,” she added.
During the first quarter, the office market in Hanoi saw relatively strong demand, primarily from local occupants, with a net absorption of 37,320 square metres, up 26 per cent quarter-on-quarter and eight per cent year-on-year. Tenants in technology, electronics, IT, banking, finance, as well as insurance, still lead the market in terms of office expansion. In 2016, the outsourcing sector is expected to grow, occupying more space and renewing longer lease terms.
Source: VIR
Related News
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
![Card image cap](/uploads/news/Eco3%20%281%29.jpg)
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.
![Card image cap](/uploads/news/Eco4.jpg)
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
![Card image cap](/uploads/news/FDI.jpg)
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.