Vietnam Office Market Update: A Promising Outlook for Tenants in 2025
27 Mar, 2025
5 min read
Hanoi: Relocations Surge as ICT Sector Drives Demand
In Q1 2025, Hanoi's office leasing market showed steady movement, especially in Grade C buildings, which reached a high occupancy rate of 92%, reflecting a slight yet meaningful increase both quarter-over-quarter and year-over-year. While Grade A and B buildings experienced declines, with occupancy rates falling to 79%, the city remains active with relocations—71% of all leased space came from tenants moving offices.
What’s notable is where they’re going. 51% of relocated tenants moved to secondary areas, while 49% chose the western districts, highlighting a shift in preference toward more decentralized, accessible locations. The ICT industry led demand, taking up 50% of total leasing activity, followed by healthcare and medicine at 21%.
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Looking ahead, 265,000 square meters of new supply is expected by 2027, with 92% of it coming from Grade A developments. Landmark projects such as Tien Bo Plaza, 29 Ly Thai To, The Marc 88, and Oriental Square are set to redefine Hanoi’s office market. For now, tenants can expect a favorable market with increased options and potential rental incentives as landlords compete to secure long-term commitments.
Ho Chi Minh City: Highest Absorption in a Decade
Meanwhile, in Ho Chi Minh City, Q1 2025 recorded the highest absorption rate in the last 10 years, signaling strong tenant demand. Rental prices in the Central Business District (CBD) grew by 3.7%, even as vacancy rates remained in double digits. This points to a growing appetite for premium office spaces as the economy regains its post-pandemic rhythm.
In Q2, the city is expected to welcome 165,000 square meters of new space from two major developments in both central and non-central areas. This will further diversify the market and give tenants more room to explore better deals and upgraded spaces.
Tenant Trends & Outlook
Across both cities, the market is shifting in favor of tenants. With new supply entering the pipeline, especially in Grade A and green-certified buildings, companies now have more flexibility in choosing offices that align with their brand, culture, and employee well-being goals.
Key sectors expected to continue driving demand include:
As sustainability becomes a core focus, buildings with green certifications are increasingly sought after—highlighting a broader shift toward healthier, more future-ready workplaces.
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20 Nov, 2025
2 mins read
ADP Earns “Top 100 Best Places to Work in Vietnam” for the 3rd Consecutive Year
This milestone reaffirms our long-term commitment to building a happy, human-centric, and sustainable workplace not only for other large firms but also for our people. Since 2013, “Vietnam Best Places to Work” has been conducted independently by Anphabe through large-scale surveys with tens of thousands of employees and nearly 800 leading companies nationwide. The ranking highlights organizations that successfully create environments where people are inspired, empowered, and meaningfully connected. People at the Center For almost two decades, people have remained at the heart of everything we do at ADP Group. We aim to cultivate a workplace where everyone feels heard, respected, and supported to reach their fullest potential. Employee wellbeing, from mental health to daily comfort and joyl serves as the foundation that motivates us to continuously improve the working experience and create a culture where everyone grows together. A Recognition of Collective Strength This recognition is not only a testament to the efforts of our leadership and teams, but more importantly, a reflection of a culture built on unity, care, and shared purpose. At ADP Group, our greatest achievement extends far beyond awards, it lies in creating a workplace where people feel proud, fulfilled, and genuinely happy to belong.
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Year End Party & 10th Anniversary of ADP Hanoi
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