What is the largest office building by leasable area in Ho Chi Minh City?

It has over 71,000sqm of space available for lease.

In Q3 2025, Saigon Marina IFC opened as the Ho Chi Minh City’s largest office project with 71,600 sqm for lease.

According to JLL, this addition lifted total Grade A supply to 663,613 sqm and pushed the vacancy rate up to 21.1%, representing a temporary increase of 7.6 ppts q-o-q. Meanwhile, Grade B did not see any new supply, with total stock remaining at 1,197,389 sqm and vacancy rising slightly to 11.9%, up 30 bps q-o-q.

Here’s more from JLL:

In Grade A, occupiers continued to expand and upgrade to international standards, fueling strong “flight-to-quality” demand for premium offices.

Despite the vacancy rate increasing due to new supply, the market recorded positive net absorption of 11,700 sqm in Q3 2025, driven by high-quality green certified projects such as The METT and Riverfront Financial Centre as well as new leases in Saigon Marina IFC. Meanwhile, although Grade B offices in the CBD maintained healthy demand, non-CBD areas experienced tenant departures, resulting in negative net absorption of approximately 4,200 sqm.

Rents edge up amid new supply entering the market

Grade A’s gross asking rent rose by 1.4% q-o-q and 1.8% y-o-y in Q3 2025 to USD 60.8 per sqm per month, mainly due to the higher asking rent at Saigon Marina IFC, while other buildings remained stable.

In Grade B, gross asking rent remained stable q-o-q and y-o-y, reaching USD 33.6 per sqm per month.

Outlook: Strong demand continues for green-certified Grade A office space

Office supply in Ho Chi Minh City is expected to remain stable in Q4 2025 as no new projects enter the market. In 2026, the market will see increased competition when the CBD welcomes Grade A Kross Tower while the non-CBD adds Grade B Hong Fu Plaza.

Demand for internationally certified, sustainable Grade A offices continues driving the market, with HCMC seen as a regional tech hub. Consequently, existing office buildings, especially older ones, will face increasing rental pressure from new supply and changing tenant preferences.