Coworking spaces are expanding in Saigon’s central districts since the limited traditional office space there is unable to meet the growing demand.
In the third quarter a coworking space company rented two stories of a grade A office building on Le Duan Street, District 1, though construction was still going on, Savills Vietnam said in a recent report.
Other coworking space companies have rented 2,000-5,000 square meters in some of the city’s newest office buildings.
By the end of September coworking companies had rented 52 percent of all office space in the central area, including in future projects.
While coworking offices are popular among small businesses and startups, large firms with hundreds of employees are also interested in them because of the flexibility they offer, Savills said.
The demand for coworking space keeps increasing since grade A office supply in the downtown area continues to be limited, and businesses struggle to find large space.
A new coworking space opens every 47.5 days in the city, it added.