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HCMC CBD Market Report | Dec 2014

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  • DECEMBER 2014 | HCMC CENTRAL BUSINESS DISTRICT

    CBD MARKET REPORTHO CHI MINH CITY

    www.colliers.com/vietnam

  • TABLE OF CONTENTSHCMC CBD MARKET REPORT | DECEMBER 2014

    Market Highlights

    OFFICE MARKET

    Market Overview Market Performance Outlook Table

    RETAIL MARKET

    Market Overview Market Performance Outlook Table

    HOTEL MARKET

    Market Overview Market Performance Outlook Table

    SERVICED APARTMENT

    Market Performance Outlook Table

    CONTACTS

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    4-6

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  • HCMC CBD MARKET REPORT

    DECEMBER 2014 | COMMERCIAL OFFICE MARKET

    P.2 | Colliers International

    In 2014, the city licensed 414 new foreign direct investment (FDI) projects with a total investment capital of US$2.84 billion, down

    5% in terms of projects but up nearly 195% in capital year on year. Specially, Samsung CE Complex project alone has an investment

    capital of US$1.4 billion, accounting for 50.4% of the total newly-registered capital.

    The office market in CBD is anticipated to keep going an upward trend even if large space from Vietcombank Tower will come online

    in 2015.

    Outlook

    HCMC FDI BY YEAR

    Source: Colliers International

    CBD OFFICE PERFORMANCE BY ZONE, DECEMBER 2014

    Source: Colliers International

    Source: Colliers International

    Grade AAR Occupancy rate Supply

    A

    B

    B

    B

    B

    CITY CENTRAL

    FINANCIALHUB

    NORTHERN CBD

    SOUTHERN CBD

    Market PerformanceAt the end of 2014, office market in CBD saw no new Grade

    A and B supply.

    In reviewed month, due to limited supply and continued

    demand from companies relocating to CBD, average

    occupancy rate of both Grade A and Grade B enjoyed high

    percentage over 90%.

    Grade A rental rate remained stable in the last four months,

    but in December, average asking rent of this sector

    increased slightly to US$40.7/ sq m/ month. At present,

    Kumho Asiana Plaza, Sunwah Tower and Times Square

    have the highest rents among all Grade A buildings.

    While, asking rent of Grade B rose to US$0.3 staying at

    US$24/ sq m/ month. However, achievable rental is lower

    thanks to a tough competition by all of landlords as well as

    availabilities for large spaces are limited.

  • HCMC CBD MARKET REPORT

    DECEMBER 2014 | COMMERCIAL OFFICE MARKET

    P.3 | Colliers International

    HCMC CBD MARKET REPORT

    DECEMBER 2014 | COMMERCIAL OFFICE MARKET

    * US$/ sq m/ month (on net area)

    Office Market OverviewNo Name Address

    Com-pletion Year

    NLA (sq m)

    Service Charges (*)

    Occupancy rate

    NFA asking rent (*)

    1 Saigon Centre 65 Le Loi 1996 11,650 6.5 95% 37.02 Saigon Tower 29 Le Duan 1997 13,950 6.0 91% 35.03 Sunwah Tower 115 Nguyen Hue 1997 20,800 6.0 93% 45.04 The Metropolitan 235 Dong Khoi 1997 15,200 6.0 96% 42.05 Diamond Plaza 34 Le Duan 1999 15,936 8.0 100% 37.06 Kumho Asiana Plaza 39 Le Duan 2009 26,000 8.0 89% 50.07 Bitexco Financial Tower 45 Ngo Duc Ke 2010 37,710 8.0 91% 35.08 President Place 93 Nguyen Du 2012 8,330 6.0 96% 33.0

    9 Times Square 22-36 Nguyen Hue 2012 9,000 7.0 86% 50.0

    Grade A 158,576 7.0 93% 40.7

    1 OSIC 8 Nguyen Hue 1993 6,500 6.0 97% 18.02 Yoco Building 41 Nguyen Thi Minh Khai 1995 5,000 4.0 100% 22.03 Somerset Chancellor Court 21-23 Nguyen Thi Minh Khai 1996 3,200 5.0 100% 22.04 Central Plaza 17 Le Duan 1997 6,094 5.0 100% 24.05 Saigon Riverside Office 2A-4A Ton Duc Thang 1997 10,000 5.0 98% 20.06 Saigon Trade Center 37 Ton Duc Thang 1997 31,416 6.0 77% 23.07 Harbour View Tower 35 Nguyen Hue 1997 8,000 5.0 87% 18.0

    8 MeLinh Point Tower 02 Ngo Duc Ke 1999 17,600 6.0 98% 22.09 Zen Plaza 54-56 Nguyen Trai 2001 11,037 5.0 94% 21.010 Bitexco Office Building 19-25 Nguyen Hue 2003 6,000 5.0 100% 24.011 The Landmark 5B Ton Duc Thang 2005 8,000 5.0 98% 20.012 Opera View 161-167 Dong Khoi 2006 3,100 7.0 85% 27.013 Petro Tower 1-5 Le Duan 2007 13,304 5.0 98% 30.014 City Light 45 Vo Thi Sau 2007 10,000 5.0 100% 15.015 The Landcaster 22Bis Le Thanh Ton 2007 7,000 5.0 90% 25.016 Gemadept Tower 5 Le Thanh Ton 2008 14,000 7.0 99% 24.017 Fideco Tower 81-85 Ham Nghi 2008 15,000 6.0 98% 22.018 Havana Tower 132 Ham Nghi 2008 7,326 6.0 100% 21.019 Sailing Tower 51 Nguyen Thi Minh Khai 2008 16,910 6.0 98% 26.0

    20 Royal Center 235 Nguyen Van Cu 2008 14,320 5.0 100% 23.021 TMS 172 Hai Ba Trung 2009 4,000 4.0 100% 23.022 Bao Viet Tower 233 Dong Khoi 2010 10,650 6.0 100% 21.023 Green Power Tower 35 Ton Duc Thang 2010 15,600 6.0 96% 23.024 Vincom Center 68-70-72 Le Thanh Ton 2010 56,600 5.0 94% 22.025 Saigon Royal 91 Pasteur 2010 5,340 4.0 100% 20.026 A&B Tower 76 Le Lai 2010 17,120 6.0 99% 29.027 Maritime Bank Tower 192 Nguyen Cong Tru 2010 19.596 5.0 97% 22.028 Empress Tower 138 Hai Ba Trung 2012 19,538 6.0 100% 30.029 Lim Tower 9-11 Ton Duc Thang 2013 29,265 6.0 98% 28.030 Sunny MB Tower 259 Tran Hung Dao 2013 13,200 5.5 97% 25.0

    Grade B 399,596 6.0 97% 24.0

  • P.4 | Colliers International

    HCMC CBD MARKET REPORT

    DECEMBER 2014 | CBD OFFICE MAP

    * US$/ sq m/ month (on net area)

    HCMC CBD MARKET REPORT

    DECEMBER 2014 | RETAIL MARKET

  • HCMC CBD MARKET REPORT

    DECEMBER 2014 | CBD OFFICE MAP

    HCMC CBD MARKET REPORT

    DECEMBER 2014 | RETAIL MARKET

    P.5 | Colliers International

    Market Performance

    Outlook

    SHOPPING CENTER MARKET PERFORMANCE, DEC 2014

    Source: Colliers International

    RETAIL PODIUM MARKET PERFORMANCE, DEC 2014

    Source: Colliers International

    Source: GSO, Colliers International

    According to the municipal Statistics Office, HCMCs Consumer

    Price Index (CPI) in December inched down 0.36% against the

    previous month due to the decline in fuel prices. On a y-o-y

    basis, the index marks a rise of 1.65%. During the month,

    transportation and postal costs recorded the steepest decrease

    of 3.54%; followed by housing, electricity, water, fuel and

    construction ma

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