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Ho Chi Minh City
Formerly known as Saigon, Ho Chi Minh City is the largest city in Vietnam with the metropolitan area being populated by over nine million people. The city has one of the fastest rates of urbanization in the world and is the financial centre of the country with industries including mining, construction, finance and trade making up its economy.
The location
Situated 1,760km south of the capital Hanoi, Ho Chi Minh City is found in the southeast of the country.The city is divided into 19 separate urban districts and five rural districts.
Neighbouring areas - price comparisons, per person per month
| The prices given below are the minimum to maximum average cost for serviced offices, per person per month, derived from our Sales Team's knowledge. |
| Area | Indicative price range |
|---|---|
| Ho Chi Minh City | ₫6,500,000 - 11,000,000 |
| Bangkok | ₫7,500,000 - 15,000,000 |
| Kuala Lumpur |
₫4,000,000 - 8,000,000 |
| Hong Kong | ₫10,000,000 - 40,000,000 |
| Singapore | ₫10,000,000 - 25,000,000 |
Looking for an office in Ho Chi Minh City
Occupancy rates in both the CBD and the sub markets of Ho Chi Minh City remain high (around 92%) with companies attracted to both the bustling CBD as well as the opportunities for the more affordable areas of the city.
With an additional 100,000m² of office space expected to be added to the market by the end of 2015 prices will remain competitive but Grade A space could be quite hard to find as the majority of the new developments will provide Grade B space.
Costs
The prices for serviced office space can range from between ₫6,500,000 - ₫11,000,000 per workstation in Ho Chi Minh City, depending on location and requirements.
However, when looking at serviced offices it is always worth keeping in mind that these costs usually cover a whole variety of amenities, which may include internet meeting rooms, reception services etc., and as such can me more cost-effective than traditional leases.
Office sizes
Instant Offices currently has a number of different office locations available in Ho Chi Minh City offering different styles and sizes of office space.
We are able to accommodate most enquiries, from one person through to 100 or more depending on the specifics.
With an additional 100,000m² of office space expected to be added to the market by the end of 2015 prices will remain competitive but Grade A space could be quite hard to find as the majority of the new developments will provide Grade B space.
Costs
The prices for serviced office space can range from between ₫6,500,000 - ₫11,000,000 per workstation in Ho Chi Minh City, depending on location and requirements.
However, when looking at serviced offices it is always worth keeping in mind that these costs usually cover a whole variety of amenities, which may include internet meeting rooms, reception services etc., and as such can me more cost-effective than traditional leases.
Office sizes
Instant Offices currently has a number of different office locations available in Ho Chi Minh City offering different styles and sizes of office space.
We are able to accommodate most enquiries, from one person through to 100 or more depending on the specifics.
Five things you probably didn’t know about Ho Chi Minh City:
- The city served as military headquarters for U.S. and South Vietnamese forces during the Vietnam War
- The city was renamed in 1975 when Saigon fell to honour Ho Chi Minh, the leader of the North Vietnamese when war with America broke out
- The Vietnamese language has six different tones; a change in tone changes the meaning of the word
- Vietnam has one of the lowest unemployment rates among developing countries
- The country also has a literacy rate of around 95%
Why choose Ho Chi Minh City?
As previously mentioned, Ho Chi Minh City has one of the fastest rates of urbanization in the world and is a city on the up.
While the cost of living in the city is increasing, both office and residential prices are still favourable when compared with most major cities in the region.
A tropical climate, cosmopolitan population and a mixture of traditional markets and modern shopping malls make this a great city to live and work in.
A closer look at Ho Chi Minh City
District 1 (CBD)
While the cost of living in the city is increasing, both office and residential prices are still favourable when compared with most major cities in the region.
A tropical climate, cosmopolitan population and a mixture of traditional markets and modern shopping malls make this a great city to live and work in.
A closer look at Ho Chi Minh City
The following districts are the most popular areas in which to rent office space in and around Ho Chi Minh City:
District 1 (CBD)
- Situated in the middle of Ho Chi Minh City
- Majority of the city’s administrative offices, consulates and skyscrapers located here
- The financial heart of the city with major tenants that include the Ho Chi Minh Stock Exchange and major international banks such as Bank of China, HSBC, ANZ and Standard Chartered
- Also home to a high concentration of shopping centres
- New urban district of the city
- Connected to District 1 by the Thu Thiem Tunnel
- The lush wetland of Thu Tiem is currently being developed to compete with District 1 as a centre for business activity
- Home to Quang Trung Software City
- The area was designed to spur the growth of the software industry in Vietnam and is sponsored by the Japan External Trade Organization and United States Agency for International Development
- Combined with another high-tech park in District 9 and a software business park in the Tan Thuan Export Processing Zone in District 7 it is helping Ho Chi Minh City become a major player in the South-East Asia high-tech market
- Capital city of Bình Dương Province, 20km north of downtown Ho Chi Minh City
- Has experienced rapid expansion since the late 1990s and is now an important industrial hub
- Plans to turn Thủ Dầu Một into a modern city that will be home to a large urban tech park
Want to find out more?
If you’re looking to move into the area, or simply require more information, contact Instant Offices' specialist local consultants.
Email our team or call us and we'll be delighted to help you.
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