HCMC – The 68-floor Bitexco Financial Tower is offering cut-price office leasing as the owner bids to fill the city’s tallest building.
Bitexco tower slashes office rent
By Dinh Dung - The Saigon Times Daily
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| The 68-fl oor Bitexco Financial Tower has considerable offi ce space available for lease in HCMC - Photo: Dinh Dung |
HCMC – The 68-floor Bitexco Financial Tower is offering cut-price office leasing as the owner bids to fill the city’s tallest building.
The new leasing price ranges from VND615,000-VND1,130,000 per square meter, equivalent to US$30-55 – a huge drop from last year’s US$39-65 psm.
William P. Badger, marketing director of Bitexco Group, said that the cut in rents is a move to attract potential tenants in the midst of the current tough economic situation.
The occupancy rate of the Bitexco Financial Tower is currently around 60% of the total office space of around 37,000 square meters (sqm).
According to Greg Ohan from CB Richard Ellis Vietnam, this is a good chance for those after a rental area of over 500 sqm to enjoy the many incentives offered.
The market in HCMC is forecast to have an additional 84,000 sqm of grade-A office space this year. However, some major projects have fallen behind schedule, seeing investors hoping for a better rental situation next year.