First 24-hour office building targeting multinationals to open in HCMC

A 24-hour office building (green) in Tan Binh District, Ho Chi Minh City. Photo by VnExpress/Vu Le

A 24-hour office building is coming up in HCMC with the owner targeting multinationals that need to operate simultaneously in various time zones.

According to VN Express, CEO of apartment leasing company Sabay Home, Nguyen Huu Thien, said he is building the nine-story facility in Tan Binh District near Tan Son Nhat International Airport.

This will be one of the first 24-hour office buildings in Vietnam’s largest city.

The building with a total floor area of 3,000 square meters will have sleeping and amusement areas for staff.

Thien said he considers it an "experiment" to discover the market reaction.

Some customers have put down deposits, including an American marketing firm with 30 employees in Vietnam and an IT firm.

Thien charges a monthly fee of $15 per square meter.

Even office buildings with co-working space in HCMC do not operate 24/7 though there are coffee shops that do, and people who work at night use them.

Nguyen Hong Hai, chairperson of office leasing company VNO Group, said there is no research into 24-hour office buildings in HCMC yet.

A niche market like this comes with both potential and risk, and the investor needs to approach a wide variety of customers from various sectors to ensure high occupancy, he said.

Good access to the airport and downtown is important since multinational companies are the likely customers, he added.

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