Office for lease market continues growing

Three new projects were offered to lease in the fourth quarter last year with the total supply of 1.6 million square meters, a quarter over quarter increase of 3 percent.

Sai Gon Giai Phong Newspaper Building, Nguyen Thi Minh Khai street, District 3, HCMC

 
According a report from Savills company, the new three include grade C project Nhac Viet and grade B Mapletree Business Centre and Sai Gon Giai Phong Newspaper Building.
 
The market was stable after receiving the new supply with the office lease ratio reaching 97 percent, rent up 1 percent quarter over quarter and 3 percent year on year.
 
Grade B offices accounted for 96 percent of the total consumption in the fourth quarter. This segment is forecast to continue growing this year approximating 7 percent.
 
The company said that real estate continued taking the lead in newly established enterprises with over 31,000 businesses. The sector was ranked second in foreign direct investment attraction with the total registered capital of US$1.5 billion.

By Minh Hai – Translated by Hai Mien

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