Class B office buildings have taken the lead in the leasing office segment so far this year, according to real estate experts. In Hanoi, the vacancy rate in Class B office space in Q1 increased significantly with the inaugural of the Horison building with a gross floor area of over 10,570 sqm and usable area of more than 8,000 sq.m. In the coming months, the market will see more large projects including the DSD building with 20,000 sqm, the Discovery Complex (49,000 sqm), Truong Thinh Building (5,400 sqm), and the HUD Tower (70,000 sqm).
Office spaces ranked class A in Vietnam
At the same time, the Class A office space segment saw a rise of 3.3 percent in renting price in the first quarter, with no new supply. Strong absorption rate in the Class A office space reflected the trend of moving for expansion among enterprises, as well as the high demand for large area of startup businesses and new representative offices.
Nguyen Bich Trang, Director of Hanoi office renting department under CBRE company, commented that high quality office buildings are always attractive to customers as they help the firms improve their brand image and attract high quality employees. Buildings with green and LEED (leadership in energy and environmental design) certificates are most popular among customers, she said, adding that the Horison building of Global Toserco is one example.
According to Deputy Director General of Global Toserco Ltd. Nguyen Thi Hong Van, with an advantageous location, 20 percent of the building’s total area has been booked at 25 USD per square metre, mostly by firms in finance and banking.
Source: VNA