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High-end offices for lease flourish against market backdrop

Update: December, 07/2020 - 09:00

Amid the quiet movements in the real estate market, luxury offices for lease in the centre of Hà Nội are witnessing a high rental rate. This trend is forecast to continue at the end of this year and in 2021 when foreign businesses flock to Viet Nam.

High ‘resistance’ in the pandemic

Although the COVID-19 pandemic has changed the growth data of the real estate sector, the market for office leasing has shown its ability to cope well with the fluctuations of the economy. According to reports from real estate market research organisations, the office-for-lease segment has benefited from the post-COVID-19 upheaval.

CBRE once stated that flexible working spaces in the central areas were expanding rapidly thanks to the needs of corporate tenants who want to cut down on fixed office rental costs with an aim to enhance adaptability to any economic fluctuation that may occur.

The Savills report also pointed out that Grade A office space still had a high occupancy rate ranging from 96 to 100 per cent, however, the supply of this product line is at a modest level.

The Savills cited Hoan Kiem as an area where a number of domestic enterprises and international organisations are based. However, this area lacks office space as well as modern and large facilities, especially those in the Grade A segment.

Grade A office space tends to enjoy high growth

Giving a more in-depth analysis of the Grade A office space’s growth trend, a representative of Commercial Leasing, Savills Hanoi, said the sustainable recovery after the pandemic had made Ha Noi a potential destination for domestic and foreign businesses.

The movement of foreign businesses to Viet Nam has increased with surging Foreign Direct Investment inflows. Demand for luxury offices for lease will see a strong growth trend. Analysts said not only foreign businesses wanted to select luxury offices in the centre of Ha Noi, but even small businesses with high revenue are also concerned about high-end products with modern utility chains.

Along with the growth space of the office rental market in general, in the coming years, as the millennial generation makes up the majority of the workforce and business training is increasingly focused, office space flexibility with high-end services will become an inevitable trend.

Exclusive workspace with GEET Space

Keeping with the increasing demand for luxury offices in the market, GEET Space has quickly provided high-end service offices with three main products: serviced offices, virtual offices, training and conference rooms.

Rapidly catching up with the "tastes" of foreign and domestic enterprises which look towards luxury products and increasing demand for business training, GEET Space has designed its workspace in a flexible and luxurious style.

Premium and exclusive workspace at GEET Space

Offices of GEET Space is located in desirable place which is in the heart of Hoan Kiem District and only one kilometre from the Opera House, Hoan Kiem Lake, Metropole Hotel, Hilton Hotel, State Bank of Vietnam, headquarters of the Ministry of Finance, etc.

GEET Space aims to make a difference by open design in each office space with elegance and luxury.

To create the optimal working experience, GEET Space is fully equipped with utility systems and advanced technology including interactive screens to increase efficiency of work exchange, a projector system with high resolution, standard sound and light quality. In the context of businesses’ increasing demands for training, the GEET Studio’s utility system becomes a big plus thanks to its recording system and supporting online learning platforms. In the workspace at GEET Space, global professional employees will enjoy premium tea or coffee. Professional staff from service providers are always ready to support businesses with techniques and administration, helping customers focus on their goals and important work.

Open design at GEET Space to optimize working experience

With a positive forecast for strong demand for luxury office space in the future, experts believe that this product will continue to lead the real estate market and increase resistance regardless of the fluctuations of the economy.

 

 

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