Ha Noi office market in Q2/2026: What Limited Grade A Supply Means for Occupiers in Ha Noi's CBD

Ha Noi office market in Q2/2026 is evolving as future Grade A supply becomes increasingly concentrated in emerging business districts outside the city centre. While occupiers now have a wider range of location options, Grade A office space within the CBD remains scarce. This shift reflects the city’s transition towards a more polycentric office market, while reinforcing the CBD’s evolving role - not simply as the traditional business centre, but as a strategic choice for companies that view their workplace as an extension of their corporate image, talent attraction strategy, connectivity and proximity to established commercial networks.  

Table of Contents 1. Ha Noi Office Market Enters a Polycentric Growth Phase 2. CBD Office Value Extends Beyond Address 3. Ha Noi Office Market Expands, CBD Office Space Retains Its Competitive Advantage

1. Ha Noi Office Market Enters a Polycentric Growth Phase 

According to Savills Vietnam, Ha Noi office market reached 2.3 million sq m of gross floor area in Q1/2026. Between now and 2028, an additional 403,000 sq m of office space is expected to enter the market, with most new supply concentrated in areas such as Starlake, West Ha Noi and Southeast Ha Noi, where larger land holdings and integrated urban developments continue to support new projects.

This reflects the ongoing expansion of Ha Noi office for lease market beyond the city centre, with emerging business districts accommodating a growing share of future supply. In contrast, Hoan Kiem and Ba Dinh, the capital’s traditional administrative, financial and commercial centre, are expected to see limited new Grade A office development.

William Gramond, Director of Commercial Leasing, Savills Hanoi, commented:

“New business districts are expanding the market rather than competing directly with the traditional CBD. While larger occupiers are increasingly considering these locations, the city centre continues to attract companies that value corporate visibility, connectivity and established business networks. With limited future Grade A supply, high-quality office buildings within the CBD are expected to remain in demand.”

2. CBD Office Value Extends Beyond Address 

According to Savills Vietnam, Grade A office buildings within Ha Noi’s CBD recorded an occupancy of 95% in Q2/2026, compared with 81% outside the CBD. Despite commanding significantly higher average rents, Grade A office developments in the CBD (Hoan Kiem District and Ba Dinh District) have maintained stable occupancy YoY, demonstrating that demand remains resilient.

For many businesses, particularly in finance, consulting, professional services and multinational corporations, a city-centre location continues to offer advantages that are difficult to replicate. Beyond proximity to clients, business partners and government agencies, the CBD benefits from an established ecosystem of commercial facilities, hotels, services and transport infrastructure. These strengths continue to support demand for CBD office space, while creating opportunities for new Grade A developments in Ba Dinh, where modern specifications are combined with a central location.

Against a backdrop of limited new Grade A supply in the CBD, newly launched projects are attracting growing attention from occupiers. One example is The Office – Tien Bo Plaza, located at 175 Nguyen Thai Hoc street on the strategic corridor connecting Ba Dinh and Hoan Kiem districts.

The mixed-use development integrates premium office space, retail, and an internationally managed hotel and serviced residences, while offering direct access to key government institutions, future metro lines and the well-established commercial ecosystem of the city centre. This strategic location enables occupiers to connect efficiently with clients, business partners and the mature business network that has long defined Hanoi’s CBD.

3. Ha Noi Office Market Expands, CBD Office Space Retains Its Competitive Advantage

Overall, the expansion of office development beyond the city centre is broadening occupier choice and reshaping Ha Noi office market. However, this evolution does not diminish the importance of the CBD. On the contrary, as new grade A supply within the city centre becomes increasingly scarce, the value of premium CBD office development is becoming even more pronounced.

Their appeal extends beyond location to encompass an established business ecosystem, connectivity and long-term corporate image. In this context, developments such as The Office – Tien Bo Plaza are responding to demand for modern office space in a central location.

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