Ho Chi Minh City office market recovers

Fast growth: A shopkeeper waits for customers outside his store in Vietnam. With the recovery of manufacturing, sourcing companies are coming back to Vietnam and actively seeking building space. — AFP

HO CHI MINH CITY: Ho Chi Minh City’s office market witnessed its first positive signs in the first half of this year since being affected by the Covid-19 pandemic for the previous two years, experts say.

A report from CBRE said that for leasing, relocation accounted for more than 50% of total transactions, and the remaining transactions were for expansion, renewal and new letting, at about 27%, 12% and 10%, respectively.