Companies with deep pockets drive Vietnam's office market

This photo taken on December 7, 2023 shows a man riding past a building under construction and owned by the Van Thinh Phat group in Ho Chi Minh City. Property tycoon Truong My Lan is facing a trial in the country's biggest ever fraud case, accused of embezzling $12.5 billion by investigators after being arrested in a national corruption crackdown analysts say has hit the economy and unsettled foreign investors. Lan, chair of major developer Van Thinh Phat, is said to have swindled the cash from Saigon Commercial Bank (SCB) for years, leaving unsuspecting investors out of pocket and leading to hundreds to stage rare protests in Hanoi and Ho Chi Minh City. (Photo by Nhac NGUYEN / AFP) / TO GO WITH Vietnam-corruption-politics, FOCUS by Alice Philipson and Tran Thi Minh Ha

HO CHI MINH CITY: Companies in sectors less affected by the economic crises and those with deep pockets are driving transactions in the Ho Chi Minh (HCM) City office market, analysts say.

The sectors include finance, banking, insurance, manufacturing, life sciences, healthcare, and pharmaceuticals, they said.