Ho Chi Minh City Figures Q1 2022

Office: There was a clear sign of recovery as the total net absorption being over 40,000 sqm in Hanoi and HCMC. Expansion made a fair contribution to overall improved occupancy levels.

Retail: the HCMC retail market has not yet seen significant changes in Q1 with no new supply. There were cautious expansion movements among retailers cross trade categories.

Condominium: The negative impact of the licensing issue from 2019, lack of land bank and cautious market sentiment after experiencing two years of the pandemic resulted in temporarily limited supply in the short run.

Industrial: The industrial market remained resilient in the Southern region. New industrial supply will be operated in late 2022.