HANOI OFFICE MARKET
Supply - Demand
Hanoi Cumulative Stock and New Supply of Grade A&B
Office Properties
35,000
- 2 Grade B buildings: North Asia Tower & Viglacera
Tower (to be completed in Q1/2007)
- High commitment rate
CB Richard Ellis | Page 53
0.00%
0 5.00%
5,000 10.00%
10,000 15.00%
15,000 20.00%
20,000 25.00%
2006
Q3
- 2 Grade A Buildings: Opera Business Centre & Pacific
Place (to be completed in Q1/2007)
30.00%
Vacancy Rate (%)
25,000
-5,000
Pre-lease in Q4/2006:
Take-up
0
35.00%
30,000
199,184
50,000
100,000
150,000
200,000
Stock as at begining of the quarter
New supply as at quarter-end
250,000
T ake-up and V acancy of G r ade A& B Office P r ope r tie s
-5.00%
- Factors driving demand: Economic growth; FDI growth;
WTO accession; Newly established MNCs; Expansion of
existing MNCs; Local companies upgrading;
- Increasing demand on Grade A & B office space
- Low vacancy rate remains on Grade A &B office space