“Hub & Spoke” - A promising trend for the office rental market in Ho Chi Minh City and the potential in Tan Phu

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Hub & Spoke - An up-coming trend 

It’s no secret that the pandemic has changed all sorts of aspects of everyone’s lives, perhaps no aspect more than our working lives. Hybrid working is no longer a ‘nice-to-have’ for many people across the world, now it’s a must-have. The situation in Vietnam is no different, with co-working office supply growing 6% year-on-year in 2020 and 3% in 2021, according to Savills Vietnam.  

While these statistics indicate growth is slowing, the changes the pandemic has brought won’t be going away anytime soon. Co-working is here to stay and Savills predicts demand for this type of office space to grow this year, based on Vietnam’s positive economic outlook for 2022. Employees now need more than just a desk, they need an office that adds value, as otherwise, why travel to your desk?  

From this, there has been a new trend called Hub & Spoke which combines both the satellite office model with a core office model. Together with the growing hybrid workplace trend, we see after the lockdowns, office spaces are starting to offer their employees flexibility never-before-seen. With these new trends, we can expect a strong push for companies to build satellite offices around the city to cater to their workforce. Offices will be designed to be more spacious and offer modern amenities without the expensive CBD prices. 

Ho Chi Minh City’s Tan Phu is a district on the rise 

However, as with many large cities around the world, Ho Chi Minh City’s central business district is packed. Space for anything comes at a premium in this bustling metropolis, and it’s the same in the office market. No wonder in Q4 of 2021 84% of new office supply was non-CBD. 

Ms. Tu Thi Hong An, Savills Vietnam Commercial Leasing Director, HCMC says “OfficeHaus with their effective office space design is a developer to watch in Q4/2022 with a shortage of office space in the CBD, especially in Tan Phu District.”  

Tan Phu District is close enough to the city center, companies can be assured they’ll be getting a comfortable and spacious workplace when they opt for an office there, rather than the few cramped options available in the CBD. With a land area of 16 km² and a population in excess of 485,000, Tan Phu is in the heart of the bustling metropolis of Ho Chi Minh City and a short drive from the key industrial areas of Binh Duong Province, so no wonder it’s an up-and-coming location for the city’s office market.

Mr. Oliver Brazier, Director of OfficeHaus: “Tan Phu is a new and exciting hub for the world of offices in Ho Chi Minh because it is not overly crowded with office buildings. But if you look at the statistics about population, infrastructure and the connectivity with other office spaces, it shows the potential of this area. With lower costs and a bustling population, Tan Phu is perfect for a young and dynamic workforce in diverse industries such as IT, engineering, e-commerce and creative fields such as design.”  

OfficeHaus also understands the needs of modern workers. Besides being located in on-the-rise Tan Phu District, OfficeHaus uses smart technology for contactless gates and lifts, and hands-free office, pantry, and restroom access to keep tenants and guests safe in this post-Covid era. OfficeHaus provides high but well-judged degrees of technology and sustainability to create safe, contactless access to a workspace that benefits from very good air and climate quality (LEED Gold certification) — a very interesting place for Gen Z to develop their careers and employers to nurture their staff’s talents. At the moment, OfficeHaus' building construction is underway, with the basement currently being built and the superstructure to be completed by July. 

 From advertisingvietnam.