Swiss group launches new co-working space brand in Hanoi
By Quynh Chi
May 08, 2019 | 09:58 AM GMT+7
SPACES has finally opened its doors in the vibrant commercial landscape of Hanoi.
SPACES at Hanoi Belvedere Centre can accommodate up to 500 people.
International Workplace Group (IWG) yesterday announced the opening of its second brand name SPACES in Vietnam, following other 10 locations of Regus in Hanoi, Danang, and Ho Chi Minh City.
Being both modern in construction, but traditional in design, SPACES co-working space at Hanoi Belvedere Centre located on Tran Hung Dao street is one of IWG's largest workspace projects in Vietnam.
The 10-floor centre can accommodate up to 500 people.
IWG vice president of sales for ASEAN, Taiwan and South Korea, Lars Wittig, said: “We are extremely delighted to set our foot in Vietnam where SMEs and startups are growing. And Hanoi fits well with its bustling business districts where SPACES can add to the city’s aim of building a collaborative community.”
Proven to provide distinct values, the community-centered SPACES offers a creative working environment under unique entrepreneurial ethos with European design.
SPACES integrates lifestyle into work, and members are encouraged to build their networks and connect. This is one of the outstanding features of the space.
It offers customers flexibility as they can work in any of IWG's 3,300 locations of SPACES and Regus all over the world.
In addition, Wittig said that the price is quite competitive when compared to other 20 co-working spaces in Hanoi. The starting price is set at nearly $70 for three weeks.
Co-working space has become a trend over the past few years and is forecasted to develop strongly. Due to the blooming of startups and SMEs as well as the wave of foreign investors coming to Vietnam, the market is expected to witness a shortage of working spaces.
"Vietnam is one of the fastest growing economies in Asia. We expect to expand our business in Vietnam to 30 locations within the next five to six years," said Wittig.
As many as 91 per cent of co-working space members are under the age of 35 and most of them are either the founders or employees of start-ups in the field of information technology, according to the leading real estate services and consultancy firm CBRE Vietnam.
As many as 91 per cent of co-working space members are under the age of 35 and most of them are either the founders or employees of start-ups in the field of information technology, according to the leading real estate services and consultancy firm CBRE Vietnam.
Vietnam's hospitality industry is undergoing a major transformation with a brand repositioning strategy that emphasizes unique, sustainable, and community-focused experiences.
Hanoi is set to receive a significant future supply of over 100,000 apartments starting from 2025, a tenfold increase compared to the current availability.
Against a backdrop of economic turbulence, Vietnam's real estate market is witnessing a tentative revival, buoyed by promising developments and cautious investor optimism.
