The new leasing price ranges from VND615,000-VND1,130,000 per square meter, equivalent to $30-55 – a huge drop from last year’s $39-65 psm.
William P. Badger, marketing director of Bitexco Group, said that the cut in rents is a move to attract potential tenants in the midst of the current tough economic situation.
The occupancy rate of the Bitexco Financial Tower is currently around 60 per cent of the total office space of around 37,000 square meters (sqm).
According to Greg Ohan from CB Richard Ellis Vietnam, this is a good chance for those after a rental area of over 500 sqm to enjoy the many incentives offered.
The market in Ho Chi Minh City is forecast to have an additional 84,000 sqm of grade-A office space this year. However, some major projects have fallen behind schedule, seeing investors hoping for a better rental situation next year.