Total size of flexible workspace grows nearly 46% in 2018, reaches approximately 51 million sq. ft. in Asia Pacific.
Ho Chi Minh City’s office supply now is limited. In Q1/2019, there is no new Grade A launched meanwhile 19,800 sqm Grade B has been debuted. Moreover, thanking to the accelerated infrastructure, the limited Office supply will no longer happening with more than 400,000 sqm NLA which will be online by the end 2019 to 2021. It also effects on the fringe CBD and decentralized areas. Especially, Viettel Tower B which will be online on Q3/2019 and contribute 17,600 sqm NLA to the market with 26 storeys for both office and retail.
With the high ranking of Consumer Confidence Index globally, Vietnam remains the most attractive destination for both local and international retailers to have the presence as well as chain expansion. In 58 USD millions of total retail sales in 2018, 96% of which were taken place in brick and mortar stores; this continues to prove that retail is all about the experience and that retail real estate sector will maintain its important role in both developers and retailers business strategy. However, the consumer shopping habits and purchasing power are changing fast, this requires both developers and retailers to study carefully its end users to implement the best approach; for instance, create experience, embrace technology and adapt the shifting of category mix.