Ho Chi Minh City’s office market is undergoing a significant transformation driven increasingly by value-enhancement upgrades, reports JLL. Although location and rental rates are still determining factors, energy efficiency, workplace environment quality, net-zero capability and employee experience are now becoming top priorities for occupiers.
Global research by JLL shows approximately 65 percent of current office buildings risk becoming obsolete by 2030 if not upgraded. This presents both a challenge and an opportunity to reposition and create new value for existing assets.
In Ho Chi Minh City (old boundary) and Hanoi, total office supply stands at approximately 4.1 million square metres, of which grade A offices account for only 33 percent. Notably, about 65 percent of grade A supply has achieved international green certification and most have been developed with environmental, social and governance (ESG) orientation from the outset.
This shift is creating
