Co-working space explodes, Startups take advantage of every minute
According to the latest report from real estate exchanges, the occupancy rate of Vietnam’s co-working spaces has reached a record level, and this number will not stop when the ecosystem Startups in Vietnam are bigger than ever.
Referring to some major exchanges in Ho Chi Minh City, The Sentry is preparing to open 3 more locations, and for WeWork also said that in the first 3 months of the year, it recorded a growth of up to 40% of the market. Vietnam, although the Covid-19 pandemic has only subsided since the end of last year. WeWork’s occupancy in two buildings in Ho Chi Minh City increased 28 points over the same period last year, while total sales more than doubled in the fourth quarter of 2021.
Mr. Greg Ohan, CEO and co-founder of The Sentry said that multinational companies and startups with 50 or fewer employees will tend to seek more flexible exchanges, rather than contracts. long-term contract with large costs for interior renovation and finishing. Instead of using separate spaces to pay extra for meeting, function, training rooms, they accept to share spaces together.
It is not surprising to say that Vietnam is the most dynamic market at the moment, the report of Acclime and Knight Frank Vietnam shows that there is a total floor area of about 135,500 m2 nationwide, 2/3 of which is concentrated in Ho Chi Minh City.
Although the market entry rate is still slow, occupancy rates are reaching a record level of over 80% in Grade A and B office buildings.
Even some real estate companies report that the occupancy rate is up to 90%, the entrepreneurial spirit of Vietnamese people will continue to drive the demand for flexible workspaces, in addition to the investment investment in business expansion in Vietnam of multinational corporations.
Real estate units are actively looking for new floors, while Startups are taking advantage to find the best premises, but may be in a state of uneasiness because the price will be pushed up next time.
