Offices in downtown Hanoi appeal to tenants

Hanoi, May 7 (VNA) - Office tenants are eyeing downtown Hanoi once again as leasing prices in other areas are rebounding, a realty expert has said. The impending Trans-Pacific Partnership and the Vietnam-European Union free trade agreement are likely to boost office rental demand, said Director of CBRE Vietnam Office Services Greg Ohan. Some foreign companies have even set aside budgets to rent office spaces over a 5-10 year span at stable prices, which they believe will be profitable once a wave of foreign investment returns. Nigel Smith, Managing Director of Landlord Office Agency, Asia, said offices in prime locations are well-rented thanks to its proximity to urban infrastructure, and that the trend is also seen in Hong Kong and Bangkok. In major metropolises, office towers around 500-800 metres from subways and shopping outlets also have an advantage.-VNA