Vietnam's International Financial Centre (VIFC) is expected to become a major force shaping Ho Chi Minh City's office market in the coming years, influencing both supply growth and product development trends.
Speaking at a recent industry seminar, Pham Ngoc Thien Thanh, director of Research and Consulting for Ho Chi Minh City at CBRE Vietnam, said the city's office sector is entering a new development cycle that could redefine supply, demand and workplace operations.
According to Thanh, office supply in Ho Chi Minh City has expanded significantly over the past decade, increasing from approximately 1 million square metres in 2015 to 1.7 million square metres today.
Notably, the share of Grade A office buildings has continued to rise. Over the next three years, the market is expected to add around 165,000 square metres of new premium office space.
A report by Knight Frank Vietnam also identified the office sector as one of the segments expected to benefit most from the development of the VIFC.
As of the first quarter of 2026, the VIFC area in Ho Chi Minh City accounted for approximately 438,000 square metres of premium office space, representing around 90 per cent of the city's total Grade A office supply.
Average Grade A office rents within the financial centre reached USD 62 per square metre per month, nearly double the rate of comparable buildings outside the area.
Knight Frank forecasts that an additional 290,000 square metres of premium office space will enter operation by 2030.
According to CBRE, demand is currently driven primarily by existing businesses expanding their leased space, accounting for around 50 per cent of transactions.
Meanwhile, 43 per cent of leasing activity stems from companies relocating to upgrade office quality or improve operational efficiency.
Knight Frank expects future demand to come largely from multinational corporations in technology, finance, banking and insurance.
Average transaction sizes currently range from 1,000 to 3,000 square metres, although several deals exceeding 10,000 square metres have already been recorded.
Green offices gain prominence
Beyond supply growth, building quality is emerging as a key differentiator within the financial centre.
Will Tran, head of Office Leasing, Industrial and Logistics at JLL Vietnam, said the current market environment provides newly completed projects with more time to improve occupancy rates while allowing developers to refine leasing strategies and services in line with tenant requirements.
JLL Vietnam has observed an increasingly pronounced divide between office buildings.
Projects in prime locations with high construction standards and professional management continue to maintain strong occupancy levels. Older properties or those in less favourable locations face growing competitive pressure.
In addition to location and building quality, tenants are placing greater emphasis on workplace environments and sustainability.
CBRE's survey found that companies increasingly favour larger and more efficient office spaces while paying closer attention to green building standards, employee wellbeing and collaborative work environments.
The most highly valued features include indoor air quality, environmental monitoring systems, building operations and maintenance standards.
According to the survey, 92 per cent of respondents believe collaborative spaces and social interaction areas contribute to stronger corporate culture, improved employee engagement and higher productivity.
Sustainability is also becoming a defining requirement rather than an added benefit.
Green building certifications are gradually evolving into a standard expectation for newly developed Grade A office projects.
Knight Frank noted that 12 of the 16 office buildings within the VIFC area in Ho Chi Minh City have already obtained green building certification, reflecting the growing focus on high-quality workplaces that meet increasingly demanding tenant expectations.
