A view of Grade-A Lotte Center Hanoi. (Photo: www.lottecenter.com.vn)
“This national appointment is the important long-term strategy of Savills Vietnam in order to strengthen the high quality services already provided to Savills’ corporate clients and commercial property owners,” the property consultant said in a press release.
Humphrey Morgan joined Savills in early 2014 and has been in charge of the commercial leasing team in Hanoi.
In the third quarter of 2015, the office markets in both Hanoi and Ho Chi Minh City saw stable rent price and high occupancy rates in Grade A & B, up to 81% and 93%, respectively, said Neil MacGregor, Managing Director of Savills Vietnam.
Both cities witnessed increasing demands and high supply of Grade A & B entering the market till the end of 2017, mainly in the central business district (CBD). While the office floor areas of Grade A & B in HCMC’s CBD will take up to 77% of the total supply, this number in Hanoi will be 56% in the CBD and 41% in the Western district.