Hanoi’s CBD gets a makeover
In the wake of the past three years’ seismic shift which saw myriad companies move west to achieve better rents, landlords in Hanoi’s CBD are, for the first time in recent history, feeling the pinch.
This shift has given rise to fully integrated commercial areas in the west as increasing office populations have meant a boon in restaurants and related amenities.
However, this has also brought rents up in the west as buildings fill up and landlords become more bullish.
To stem and reverse the flow, market-savvy landlords of the CBD are renovating their ageing facilities and offering new and improved services while also bringing down rents to compete.
Long-standing buildings such as Pacific Place, Hanoi Towers and Central Building – all owned and operated by notable international landlords – are taking the opportunity to upgrade their facilities and provide not only more efficient office space but also improved services and complete “lifestyle” and “wellness” facilities to retain and attract tenants to keep up with global trends in mobile office environments.