Ha Noi’s office market saw stable rental performance and a modest improvement in occupancy to 85%, supported by strong absorption in newly launched, well-received developments, and sustained occupier confidence, which contributed to positive net take-up.

Relocation dominated leasing activity, with tenants pursuing cost optimisation and upgraded premises, particularly in Secondary areas where leasing terms remain competitive. Year-to-date, transactions are evenly distributed across sectors, with Finance, Insurance and Real Estate (FIRE) maximising their potential.

William Gramond, Director of Commercial Leasing, Savills Hanoi, notes that the shift toward non-CBD areas is becoming a lasting movement rather than a temporary trend. Reasons include better infrastructure, new high-quality developments, and more affordable rents in non-CBD areas.

He also notes Ha Noi’s office market expects to remain highly competitive as more quality projects enter the market, providing a broader range of choice to local and international occupiers. This is a positive sign for the overall workplace environment, as office design increasingly focuses on quality, amenities and employee experience.

In the final quarter of 2025, key completions such as Oriental Square, Tien Bo Plaza, The Marc 88 will introduce premium office space. A strong pipeline of 290.000 m2 NLA over the next 3 years, primarily Grade A developments, confirms continued decentralisation and rising demand for high-quality workspaces.

With many new buildings entering the market, older properties must upgrade to stay attractive. It’s no longer just about being in a good location specification, air quality, natural light, building amenities, and on-site facilities like cafés or leisure spaces all matter more now. These features create a pleasant working environment, helping companies attract and retain top talent. 

In fact, today's younger Vietnamese professionals have more career options and higher expectations. They increasingly choose workplaces that offer comfort, convenience, and a sense of wellbeing. For investors and developers, focusing on employee experience, sustainability, and building performance will be key to staying competitive in Ha Noi’s office market.

Ha Noi focuses on green offices

According to Matthew Powell, Director of Savills Hanoi, one of the most noticeable trends in the office market is the surge of green and environmentally friendly workplaces.

Achieving a green certification has become a standard requirement for new developments, and older buildings, to remain competitive, are being upgraded. This is not just a global trend but an important factor in increasing a building’s appeal and ensuring its long-term appeal.

At the same time, shifts in working models, towards greater flexibility, enhanced employee comfort, and a better overall experience, are strongly shaping how companies choose their office locations. Rather than focusing solely on city centres, many firms are opting for well-connected secondary areas that offer modern infrastructure, competitive costs, and contemporary workspaces.

A good example is Starlake Tay Ho Tay, which is rapidly emerging as Ha Noi’s new hub for next-generation office developments. Oriental Square by OSI is the first project in the area, offering high-quality Grade A office space with modern facilities and strong green credentials. Over the next two to three years, additional projects will follow, reinforcing the decentralisation trend and providing diverse workspace options that reflect how businesses are adapting to post-pandemic working styles.