A conference held by NAI Vietnam in Ho Chi Minh City on May 22 saw the participation of major business leaders in the real estate industry from around the world.
At the NAI Asia Pacific Regional Meeting 2025, held on May 22 in Ho Chi Minh City, Mr. Alex Waddey, President of NAI Global—a leading U.S. commercial real estate services firm—highlighted that the surge in demand over the past two years, coupled with a strong wave of new supply and the rapid rise of flexible workspace models, is putting increasing pressure on the absorption capacity of traditional offices. This dynamic, he noted, poses significant challenges for occupancy and long-term leasing performance of office buildings.
Mr. Andrew Bruce, Owner and Principal of NAI Harcourts North Shore (New Zealand), also observed that commercial real estate developers are shifting their investment mindset. A growing trend is the repositioning and conversion of office towers into integrated developments that combine premium office space with high-end retail centers to maximize commercial performance. Many such projects, he noted, have already delivered positive results. At the same time, investors are showing increasing interest in long-term lease packages that offer attractive incentives and pricing, helping to drive demand and retain tenants over time.
Looking ahead, experts remain optimistic about Ho Chi Minh City’s office market thanks to its robust economic growth. Mr. Tam Nguyen, Chairman of NAI Vietnam, shared that office real estate continues to attract strong interest from both domestic and foreign investors. International players, in particular, are actively seeking acquisition opportunities for income-generating office assets in Ho Chi Minh City, targeting stable revenue streams.
However, he also pointed out two major challenges the city faces: limited land availability and regulatory hurdles. With HCMC’s strong economic trajectory, if these issues remain unresolved, the city may encounter a shortage of new office supply in the coming years.
