Jones Lang Lasalle Vietnam Company Limited (Vietnam)

JONES LANG LASALLE VIETNAM considers as provider for investment & management services in real estate field. On behalf of customers, the subject is responsible for managing, leasing and outsourcing property portfolio. Due to its business nature, the company did not have any import and export activities. CBRE, SAVILLS, CUSHMAN & WAKEFIELD, COLLIERS INTERNATIONAL… are prominent competitors in this industry.  After the first outbreak of COVID 19, almost shopping centers reopened businesses again. Nevertheless, there have been many vacant spaces with sluggish leasing activities. Tenants have struggled to maintain occupancy when consumers tend to cut down their budgets for entertainment, games, beauty… According to public information, the average vacancy rate for rental property reached to 30% for second quarter in Ho Chi Minh City. Besides, demand for office relocation accounted for 72% of total transactions, dominantly in manufacturing, tourism, and chemical companies... Demand for shrinking office took up 2% in the group of finance, banking and technology. Meanwhile, the demand for expansion concentrates on insurance, healthcare, retail & e-commerce industries (about 20%).With the return of COVID 19 in Aug, office rental fees are hard to recover until the end of 2020. For industrial real estate, this segment shows resilience against the pandemic. Thanks to better disease control and EVFTA, these factors create investor's confidence in manufacturing and logistics sectors. Unstable Chinese market pitches in moving plants of many Groups to Vietnam (APPLE, PEGATRON, FOXCONN, MEIKO ELECTRONICS, NIKKISO, FUJIKIN…)