Ho Chi Minh City Office Market Overview
February 2008
Overall Office Market Overview
Leased Area, Vacancy Rates and Rents, Q4/1996 – Q4/2007
0
100,000
200,000
300,000
400,000
500,000
600,000
96 97 98 99 00 01 02 03 04 05 06 07
0
5
10
15
20
25
30
35
40
Leased Area (LHS) Vacancy (LHS) Average Rent (RHS)
Source: Savills Research & Consultancy
sq.m. US$ per sq.m. per mth
Grade ‘A’ Office Market
Leased Area, Vacancy Rates and Rents, Q4/1996 – Q4/2007
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
96 97 98 99 00 01 02 03 04 05 06 07
0
10
20
30
40
50
60
70
80
Leased area (LHS) Vacancy (LHS) Average Rent (RHS)
Source: Savills Research & Consultancy
sq.m. US$ per sq.m. per mth
Grade ‘B’ Office Market
Leased Area, Vacancy Rates and Rents, Q4/1996 – Q4/2007
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
96 97 98 99 00 01 02 03 04 05 06 07
0
5
10
15
20
25
30
35
40
45
50
Leased Area (LHS) Vacancy (LHS) Average Rent (RHS)
Source: Savills Research & Consultancy
sq.m. US$ per sq.m. per mth
Grade ‘C’ Office Market
Leased Area, Vacancy Rates and Rents, Q4/1996 – Q4/2007
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
96 97 98 99 00 01 02 03 04 05 06 07
0
5
10
15
20
25
30
Leased Area (LHS) Vacancy (LHS) Average Rent (RHS)
Source: Savills Research & Consultancy
sq.m. US$ per sq.m. per mth
Ho Chi Minh City CBD
Asiana Plaza
VP Tower
Gemadept
EVN Building
Sun Wah Tower
Bitexco Tower
Sailing Tower
Centec
22,000 /
Suburban
(Not Shown)
Airport
Business
Center
13,000 /
Suburban
(Not Shown)
Etown 3
14,500 / B
Sailing
Tower
12,000 / B
Saigon
Happiness
Square
12,000 / B
VP Tower
12,000 / B
Gemadept
11,000 / B
EVN
16,000 / B
Centec
Tower
27,000 / B
(Not Shown)
Centre-
point
27,000 / A
Asiana
Plaza
Completion 2009
Completion 2008
Sacombank
Project / supply / Grade
Project / supply / Grade
Current Supply
Completion in 2010
Completion in 2009
Completion in 2008
Future supply will steadily increase
Future Office Supply in HCMC, 2008 – 2012
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
2008 2009 2010 2011 2012
Existing Supply New Supply
sq.m.
Source: Savills Resaerch & Consutlancy