According to a report by Jones Lang LaSalle (JLL), coworking space is a relatively new concept in Vietnam in recent years, with some names such as Regus, Toong, Up, Dreamplex, CoGo ... Despite the growth rate strong in the past 1-2 years (an average of 58% / year), the scale of co-working market in Vietnam is still very small and therefore will continue to develop strongly in the future.

Sharing at the press conference to introduce Vietnam Property Awards (Vietnam Property Awards), Mr. Dang Van Quang, Director of JLL Vietnam said that, besides the 3 trends of mid-end segment, real estate for factories and Grade A offices, coworking projects will continue to flourish in 2019.

"Coworking space is a niche of office type. This is a trend of increasing demand due to many startups, technology reforms make startups not necessarily to sit in the traditional office as before. Thanks to internet connection, working station is becoming more and more simple, stimulating the expanding demand of this new type of office", Quang said.

In fact, coworking space is a hybrid model between Shared Office and Working Cafe, providing more convenience than traditional office service model, emphasizing into the community work space and towards the customer experience. Not only startups or freelancers are aware of the convenience of this model, but even companies and large corporations also learn and keep up with the trend.

Specifically, at November 2018, WeWork, the leading startup in the coworking space, has officially joined Vietnam market by opening an office in E-Town building, HCMC. The appearance of WeWork is expected to create a new wave in the domestic coworking space market, which is considered as a "delicious cake" for foreign investors.

Besides, Regus is also promoting its "coverage" by preparing the first Spaces brand launch in Hanoi. This new center is not only a few floors, but will be a 10-storey building in a prime location, the locations with the best views, beautiful direction, the best light will be reserved for common area. It is known that Regus currently has 9 centers (8 coworking space centers and a conference center), with a total floor area of ​​9,000 sqm. Regus representative also did not hesitate to share, excluding Hanoi and Ho Chi Minh City and Da Nang, they are zooming to smaller cities like Hai Phong and cities nearby.

“We always hunt for prime locations to open new centers in key cities. In HCMC, we also look forward to opening centers in other districts outside District 1 to help shorten the time to travel and bring Regus centers closer to your home, ”said Lars Wittig, General Director of Regus Vietnam, Cambodia and the Philippines.

According to JLL, coworking space is becoming more and more popular in Ho Chi Minh City, largely due to limited supply of traditional offices in sought-after locations.

While international operating units such as Regus and WeWork want to reserve space at high-quality Grade A and B office buildings in the market, local operating units are gradually shifting to buildings Grade B office and retail area to find new places for meeting increasing demand.

“Large multinational corporations often need a representative office in the early stages of penetrating a new market. Therefore, coworking space is a feasible short-term option for this type of tenants while the number of employees is still unstable. In the near future, the market is expected to welcome more coworking centers, the supply is expected to increase exponentially in the next few years", said Trang Bui, JLL market director Vietnam.

Perspective of insiders

Recognizing the trend of coworking market in Vietnam, Mr. Lars Wittig said, the demand for coworking and flexible office solutions is increasing rapidly in the world, but in Vietnam it can be said that the demand is booming. Cause, Vietnamese people have a startup culture - with many startups, small and medium enterprises established every year.

Besides, Vietnam owns a golden population with many young people of the 8x, 9x generation, the ideal age to start a business. The business environment is changing every day, not only for medium-sized, but also for large businesses, multinational corporations. Large ones may close a business department, or merge with another business. Therefore, it is very difficult to predict what office demand will be in the next 1-2 years. Therefore, coworking space solutions will prevail over the traditional office model.

"For the young 8x, 9x, coworking environment is preferred because it helps them to be more creative, work more effectively, and have interact to new people, new creations from other businesses. For large enterprises, since the business environment is changing so fast, they will have to choose a solution to live with floods and a highly interactive coworking environment that will contribute to this change”, said Lars. Wittig said and added, in the near future, Vietnam coworking market will be divided into 2 distinct segments, one is the big brands and the other is the smaller brand with personality and style.

Both segments will complement each other and bring more colors to the market, while meeting different needs of customers. Because some customers will like to work in a cafe-like space at a small coworking center on a small street corner. However, there will be customers who want to work in a high-rise building in the city center.

The reason is nowadays, young people not only come to the office to work and go home to sleep, but they come to the office, then go to lunch, go shopping, watch movies after work ... Space will contribute to creating a lifestyle, and at the present time, in Ho Chi Minh City, District 1 area is the area that meets this lifestyle the most.

It is very difficult to build a big coworking center in the suburban districts, because coworking is not only an office area, but also needs to consider the surrounding environment. However, the smaller coworking centers located in the sub area will bring more colors and support very well for the big coworking centers in the center.

According to Lars Wittig, Regus' biggest difficulty or other investorsf is now finding new premises to invest since Regus centers are usually located in prime locations, in luxury buildings with limited supply and often filled quickly.

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