Outlook 2023 Vietnam

HANOI

NEW SUPPLY

NEW SUPPLY (SQM)

160,000

 By the end of 2022, Techcombank Tower (8,104 sqm) will enter the CBD area. The non-CBD market will also welcome nearly 21,500 sqm of supply through Lancaster Luminaire in the Secondary region.  Until 2025, at least one large-scale project is expected to enter the Hanoi market every year – all of which are in non-CBD areas. The two largest projects are both scheduled to complete in 2025, totalling almost 150,000 sqm.

FORECAST

140,000

120,000

100,000

80,000

60,000

40,000

20,000

0

2020

2021

2022F

2023F

2024F

2025F

2026F

Source: Cushman & Wakefield