Ho Chi Minh City adds 11,000sqm of new Grade A office supply in Q3

Over 429,000sqm of new office space is expected to materialise until 2026.

In a recent report, Avison Young revealed that in Q3 2024, HCMC’s Grade A office market welcomed 11,000sqm of new supply from the notable Thaisquare The Merit project, reflecting strong growth in the premium office segment and meeting the increasing demand for high-quality spaces. 

Here’s more from Avison Young:

Looking ahead, from 2024 to 2026, approximately 429,300sqm of office space is expected to come online, with most new supply concentrated in noncentral areas like Thu Duc City and District 7, featuring projects such as UOA T2 and V-Plaza Towers. These areas, with abundant land and growing infrastructure, have strong potential for large office developments, offering more competitive rental rates than central HCMC. 

Office demand continued to grow in Q3 2024, particularly from companies in technology, finance, and insurance sectors. International firms expanding in Vietnam have further increased demand, pushing companies to seek high-quality Grade A and B office spaces with superior services and infrastructure.