(HO CHI MINH CITY, March 11, 2020) CBRE Vietnam and An Gia Group officially signed a strategic partnership agreement this morning. Under this agreement, CBRE is honored to become the property management agent of the office chain, The Address, which includes these office buildings: 89 Phan Dinh Phung, Phu Nhuan District; 191 Nam Ky Khoi Nghia, District 3; 63A Nam Ky Khoi Nghia, District 1 and 366 Nguyen Trai, District 5. In addition, CBRE was appointed by An Gia to be the exclusive office leasing agent of the office building at 89 Phan Dinh Phung, Phu Nhuan District.
The signing ceremony took place at an office building of The Address, with the participation of Ms. Ho Thi Nguyet Anh, Deputy General Director of The Address Project and Ms. Dang Phuong Hang, Managing Director of CBRE Vietnam Ltd.
CBRE & An Gia signed a strategic partnership agreement
The signing ceremony marks the ultimate goal of both parties ― to provide the potential tenants with professional management services to match the level of the project’s quality. With a leading position, extensive experience and professional staff in the field of operation management, CBRE will add great value to the new office chain, The Address. The selection of a market-leading property-management agent like CBRE demonstrates to potential customers the vision and enthusiasm of The Address office chain.
CBRE reported in Q4 2019 that Grade B Office rent continued to show a remarkable growth compared to Grade A. Due to the high demand, the average Grade B rent was at 580,000 VND/sqm/month ― an increase of 6.1 % compared to last year. Grade-B projects have the advantage of competitive fees and high quality in some new Grade-B buildings.
According to experts, the demand for flexible and modern office space in Vietnam will continue to be fueled by the wave of start-ups ― small and medium enterprises (SMEs). The growing demand of domestic and international businesses is creating a new requirement for quality, serviced offices.
The report also shows that the demand for office space in the mid-end segment has grown significantly, since customers always tend to choose products with mid-range prices, but preder a luxurious design with utilities included. The An Gia Group heavily invested in The Address project with an emphasis on design and utilities. Its unique strategy is: "Bring the five-star hotel experience to the workplace." From the lobby to the toilet area, every space is designed with quality glass and stone surfaces, creating a luxurious space from all angles.
In the near future, The Address will become a breath of fresh air, bringing to the start-up community, small and medium businesses the perfect branding solution to enhance their reputation and earn customer trust. The chain strongly believes in the idea of "dividing the area, diversifying needs" providing a mini-office with an area of only 37 square meters and an expected rental price of 599,000 VND sqm.
The high-class lobby at The Address - 191 Nam Ky Khoi Nghia, District 3
The project promises to create a revolution in the field of office service via the combination of the traditional office and shared office models. The Address has several convenient benefits as it uses the entire ground floor and mezzanine as a completely free service area: The ground floor is designed to be a high-class standard hotel lobby, and the mezzanine floor, with its luxurious architecture, serves as the reception area. The Address Project helps businesses save costs, improve office efficiency and maximize office utilization by providing reception services, security, cleaning staff, maintenance, warranty services and meeting rooms with 5-star conference standards, as well as business support services such as layout design and office interior consulting, business license registration service and more.
In addition, all the buildings of the project are located in the most privileged locations in central downtown areas including District 1, 3, 5, 10, Phu Nhuan and Tan Binh. With the aim of delivering a high-class experience in an affluent location for only 50% of the cost of a Grade A office, The Address satisfies the needs of SME businesses and start-ups while meeting their budgets. Thanks to the office location, the reception area and accompanying utilities, The Address not only helps businesses and partners to facilitate communication but also demonstrates brand value.
Mr. Le Trong Hieu, CBRE Vietnam Advisory & Transaction Services - Office, Industrial & Logistic Services, stated, “CBRE realized that The Address office chain would thrive in the future as it provides another solution for the market, especially for the Grade B office segment, which is very exciting. Since it meets the demands of many industries needing competitive rental rates, numerous utilities with professional management and still need to be situated in the central districts of Ho Chi Minh City.”