Office real estate continues to be the focus of investment portfolios of domestic and foreign investors, 2022 is a promising year for the market, tenants will have a choice of offices. New, high-quality Grade A starting later this year. In the face of competition in rents, services, and building quality, the bottom line is always that landlords and tenants plan to adapt and manage the transformation. On June 16, 2022, at the event dedicated to office real estate with the theme "Hanoi Office Market Update - Trends and Forecast", Savills presented analysis, comments and forecasts. Newspaper exclusively for the Capital market.
“From 2021 to now, the demand for office rental in financial services, real estate, distribution, information technology, and manufacturing sectors has increased sharply. When applying the trend of hybrid/flexible working model, tenants need to consider the suitability of the business for the model through assessing the nature of the working group, then the change management so that the transition becomes smooth and efficient. In other words, adapting to this change and responding to the market will be a measure of tenant and homeowner success'.
Regarding competitive pressure, Ms. Minh said that Grade A office rents in Hanoi depend greatly on the future supply of the market. For business owners, the combined office model will help save rental space and working time, especially carefully considering office design, methods of building corporate culture and retaining talents. .
Savills Vietnam Q1.2022 Report recognized, Techcombank Tower – 6 Quang Trung will be the only Grade A office building to enter the market by the end of 2022. This is starting to put great competition pressure on office buildings in Hoan Kiem area was built 20 years ago according to old design and technical standards. Taking advantage of the international quality of the building such as columnless floors, sound absorption floors, air quality, international operation management units, etc. are expected to be big plus points to attract tenants.
After 2022, this trend will continue to grow in the future with projects like Gelex 10 Tran Nguyen Han, 36 Cat Linh and Progress Plaza built to LEED Gold standards, Lancaster Luminaire and Taisei Office Building Hanoi with LEED Green… These projects will contribute to providing nearly 90,000 square meters of green office space to the market.
This is the opportunity of Techombank Tower - 6 Quang Trung, when the building is expected to be completed and enter the market by the end of this year. With location as building office A – With international quality and meticulous research to meet the needs of green offices, new working models of tenants, we expect Techcombank Tower – 6 Quang Trung solves the needs of the market, providing a more creative and inspiring workspace, especially ensuring the image of business tenants when setting up their headquarters and workplace here.”
Commenting at the event, Ms. Minh emphasized, the key point always lies in the fact that businesses carefully consider, plan early for office changes, place the quality of the project and the reputation of the owner. investment to the top and get the advice of professional units. Only by making such preparations and moves, can business tenants avoid unnecessary costs in the rental process, control risks, and especially be satisfied with the place being leased. choose to work as an office and stick with it for a long time.
Savills Impacts 2022 report shows that workers are tending to diversify their workspaces. Besides, many businesses still want to maintain full-time work at the office. 25% of workers surveyed said that working in the office helps them focus more. Meanwhile, 63% said communication with colleagues at the office is more proactive and effective. To meet the new working trend, businesses need to pay more attention in the selection and setup of offices, to ensure employees have an open and flexible working environment.