Altogether, nearly 105,000 sq.m of new supply was added to the HCMC market in H1 2024, bringing the city’s total Grade A&B office stock above 1.6 million sq.m.
Net absorption is estimated at around 31,000 sq.m, driven by absorption at new Grade A projects. Some tenants at Grade B projects have been observed to capitalize on the current market to upgrade their office space, hindering the absorption among the Grade B segment.
Alongside the prominent trend of green and sustainable buildings, there has been an increasing interest in occupiers’ well being and experiences. Some projects are equipped with additional amenities such as F&B outlets, gym, landscape, and other technologies to monitor water and air quality inside the buildings. Certification of well-being such as WELL and Fitwel has become more popular in the HCMC office market recently, interested by both tenants and landlords.
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