Da Nang has approximately 76,300sq.m of office space stock spread across 21 buildings and has remained unchanged quarter-on-quarter (QoQ) but increased by 12% year-on-year (YoY).

According to a report from Savill Vietnam, a property consultancy firm, with approximately 55,700sq.m from 17 projects, Hai Chau District in the downtown continues to be the main supplier of office space, accounting for 73% market share. Thanh Khe District has 20,600sq.m from four projects.

The facade of one of the three Ocean Villas at the Da Nang Beach Resort.

The average occupancy rate during the first half of this year was 86%, up three points (ppts) QoQ but down minus 1 ppt YoY. Grade A's occupancy was 97%, with QoQ remaining unchanged but YoY increasing three ppts. Grade B occupancy rate was at 84%, up 5 ppts QoQ, while Grade C was 85% occupied, up 1 ppt QoQ.

The report also revealed that the total area leased was approximately 65,400sq.m, up 4% compared with 2014. At 75%, demand for office space in Da Nang was mostly focussed in Hai Chau district.

According to the Viet Nam Chamber of Commerce and Industry (VCCI), Da Nang has continuously ranked first on the Provincial Competitiveness Index (PCI) 2014, reflecting its attractive investment location.

In 2015, one new project is expected to enter Da Nang's office market, supplying some 20,400sq.m.

(Source: VNA)