Hanoi’s office market will grow stably in 2021, Director of Savills Hanoi Matthew Powell has projected. (Illustrative photo: VNA)Leasing growth will be fuelled by customers with headquarters in Vietnamand confidence about expanding their businesses in the country’s capital.
According to figures from Savills, as of the end of 2020, all segments inthe office market have achieved growth over the last five years. Grade B capturedthe strongest annual growth, of 6 percent, while the figures for Grade A andGrade C were 4 and 3 percent, respectively.
The total leasing area offered by the market amounted to nearly 2million sq.m, up 6 percent annually.
Interest in the city’s Grade A office space from Japanese and Korean investors and companies has been marked.
Hoang Nguyet Minh, commercial leasing director at Savills Hanoi, said thatcurrently, many companies have changed their working style in a more flexible mannerrather than only having staff working at desks. The requirements of an officewill also be based on the criteria of work efficiency and convenience in theworkspace and especially focus on developing common areas.
The pandemic is driving demand for more flexible and creative officespaces and an employee-friendly environment to increase productivity andcreativity. However, this is a challenge for older buildings./.
VNA
