April 28, 2022 | 11:30 GMT+7

‘Hub & Spoke’ a promising trend in office rentals in HCMC as OfficeHaus eyes Q4 opening

With HCMCs Tan Phu district on the rise and the “Hub & Spoke” and “Hybrid” working styles beginning to take hold, the opening of Officehous at the end of this year couldn’t come at a better time.

OfficeHaus’s on-going construction
OfficeHaus’s on-going construction

“Hub & Spoke” the latest trend

It’s no secret that the pandemic has changed various aspects of everyone’s life, and perhaps none more so than our working lives. “Hybrid” working is no longer just the preference for many people around the world; it has become almost imperative.

Employers have had to adapt and so have those in the commercial real estate sector. In Vietnam, co-working space supply grew 6 per cent year-on-year in 2020 and 3 per cent in 2021, according to Savills Vietnam.

While these figures may indicate that growth is slowing, the changes the pandemic brought aren’t going away anytime soon. Co-working is here to stay, and Savills predicts that demand for this type of office space will grow this year, based on Vietnam’s positive economic outlook. Employees now need more than just a desk; they need an office that adds value, or else why travel to work?

From this has emerged a new trend called “Hub & Spoke”, which combines the satellite office model with the core office model. Together with the growing hybrid workplace trends we have seen after the lockdowns, office spaces are starting to offer their employees a level of flexibility not previously seen. In doing so, employers are prioritizing efficiency and productivity in a modern sense.

 Ms. Tu Thi Hong An, Savills Vietnam Commercial Leasing Director, HCMC.
 Ms. Tu Thi Hong An, Savills Vietnam Commercial Leasing Director, HCMC.

Ms. Tu Thi Hong An, Savills Vietnam Commercial Leasing Director, HCMC, said the post-lockdown market has remained resilient with high demand and low supply. “Hybrid offices are becoming increasingly popular and are now a viable and cost-effective solution,” she explained. “Tenants from the IT sector are the most active, seeking offices across all grades. Despite a supply shortage, rents are unlikely to further increase as small office absorption is slowing down.”

With these new trends, a strong push can be expected 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 expensive CBD prices.

However, as with many large cities around the world, Ho Chi Minh City’s CBD area is already packed. Space for anything comes at a premium in the bustling metropolis, and it’s the same in its office market. It was no wonder that, in the fourth quarter of 2021, 84 per cent of new office supply was non-CBD.

“OfficeHaus, with its effective office space design, is a development to watch when it opens in the fourth quarter of this year, given the shortage of office space in the CBD,” Ms. An said.

HCMC’s Tan Phu district on the rise

This is where the unique advantages of Tan Phu district come in. While it is close enough to the city center, companies can also be assured they will be getting a comfortable and spacious workplace if they opt for an office here rather than the few cramped spaces available in the CBD. With a land area of 16 sq km and a population in excess of 485,000, Tan Phu is in the heart of the bustling metropolis and just a short drive from key industrial areas in Binh Duong province, so it’s not surprising it has become an up-and-coming location. It has room for spacious offices with the clean and beautiful modern facilities businesses must have to keep employees happy and productive.

The OfficeHaus project is one of several exciting new developments set to change the face of Tan Phu district’s commercial office market and shake up the sector across the city.

As a trailblazer in the hybrid working sector, OfficeHaus is uniquely positioned to make hay while the sun shines in this changing market. The building provides the largest floorplate for lease in the city, of 2,500 sq m, with modern state-of-the-art facilities that boost productivity and lead to happier workplaces.

Mr. Oliver Brazier, Director of OfficeHaus
Mr. Oliver Brazier, Director of OfficeHaus

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

OfficeHaus understands the needs of modern workers. Besides being designed for efficiency and productivity, it 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.

The flexible layouts that can be created on the city’s largest floorplate guarantee the building’s adaptability to the needs of future generations. OfficeHaus combines all of this with high but well-judged degrees of technology and sustainability to create safe, contactless workspaces that benefit from good air and climate quality (LEED Gold certification), and are very interesting places for Gen Z to develop their careers and employers to nurture their staff’s talents.

Construction of OfficeHaus is now underway, with the basement currently being built and the superstructure to be completed by July.

“We were able to foresee the development of Tan Phu district, so OfficeHaus is a pioneer in moving away from the overcrowded District 1 to green and beautiful Tan Phu,” said Mr. Brazier. “Tenants and partners can expect OfficeHaus to be open by the fourth quarter of this year. The ground floor and some office space have already been leased out, and the OfficeHaus team is currently working with multinational corporations and tenants with a need for large office space in industries such as finance, accounting, IT, engineering, and logistics, towards the goal of having 8-12 diverse tenants in the building.”

Attention
The original article is written and published on VnEconomy in Vietnamese only. To read the full article, please use the Google Translate tool below to translate the content into your preferred language.
VnEconomy is not responsible for the translation.

Google translate