State of “Demand increases, Supply drips” of the Office for lease market

The office rental real estate market recorded a SURPRISING search volume not only in central areas such as Hanoi, Ho Chi Minh City but also provinces such as Da Nang, Hai Phong, Binh Duong, Long An,... also in a strong trend of returning to activity after the epidemic.

After Covid-19, tenants' office selection criteria have changed in the direction of prioritizing new buildings, focusing on green factors, improving physical and mental health and optimizing interaction with employees.

Currently, Binh Duong is considered the most vibrant province in the satellite region of Ho Chi Minh City. At the beginning of 2022, when society has gradually adapted to the epidemic and Vietnam opened its economy, it is understandable that Binh Duong has witnessed an increase in demand for offices from businesses and experts.

Binh Duong is currently known as a New City with an extremely developed economy, plus the second highest immigration frequency in the country. Therefore, the need to establish modern offices, attracting businesses and investors is extremely necessary.

However, the absence of high-end office real estate for rent in Binh Duong is also creating a "gap" for the market in this area. In the future, more office building projects are needed to serve tenants who are businesses, start-ups,...

WTC TOWER - FIRST 4.0 BUILDING IN BINH DUONG

The Complex of Offices - Conferences - Trade - Offices - invested by Becamex IDC Group, is expected to be put into operation to serve tenants in the fourth quarter of 2023. The building provides more than 60,000m2 of rental area for domestic and international guests, at the front of Hung Vuong street, Thu Dau Mot city.

Located in a strategic position in the total 4,000 ha of Industrial - Service - Urban Complex in Binh Duong, WTC TOWER has 30 floors and 1 basement with panoramic views around the city. At the office, tenants can easily move quickly to important locations such as airports, commercial areas, industrial parks, residential markets, schools,...

According to CBRE's research, 69% of employees accept to give up other benefits to work for a company with an investment in workspace. And up to 81% of employees are willing to refuse to accept a job if the workspace does not convey inspiration. With the spirit of green design throughout, WTC Tower is proud to be an effective and inspiring workplace for businesses. This will be a trade connection center with more than 300 members of the World Trade Center Association worldwide.

WTC Tower also spends more than 1,000 m2 "shared office" to support startups in Binh Duong in particular and neighboring provinces in general to contribute to promoting socio-economic development of the province and the Southeast region.

Before officially put into operation, the investor Becamex IDC signed cooperation agreements with many big domestic and foreign partners such as: VSIP, F&B, True & Fair Bookkeeping, Ro Plus, GS25 and strategic units such as VNPT, CBRE, Vietcombank Binh Duong, Home Next, Collier….

In general, with the economic situation in the recovery phase after the crisis, putting WTC Tower into operation is a really necessary strategy to develop the region's economy as well as attract tenants both at home and abroad. However, the absence of high-end real estate for rent in Binh Duong is also creating a "gap" for the market in this area. In the future, many high-end rental real estate projects are needed to serve tenants who are high-end professionals in industrial parks.