Key factors when searching for office for lease in Saigon Hi Tech Park

An office serves as a place for operations and growth, therefore, careful consideration is crucial for businesses when deciding an office location. Let’s analyze the top critical issues that businesses may encounter when looking for an office for lease in Saigon Hi Tech Park or anywhere else.

Overview of Saigon Hi-Tech Park

Saigon Hi-Tech Park (SHTP) is situated in the southeast of Ho Chi Minh City, approximately 15 km from the city center. Spanning nearly 43 hectares, it was established to provide favorable conditions for technology-focused enterprises.

Currently, numerous large companies and factories are concentrated in this area, such as Intel, Samsung, Nidec, and FPT. With the infrastructure investment by the People’s Committee of Ho Chi Minh City for Thu Duc City, Saigon Hi Tech Park is poised to become the most vibrant and developed Tech Hub of Vietnam.

What makes Saigon Hi Tech Park attractive to technology businesses?

There are several reasons why businesses, especially those in the technology sector, choose Saigon Hi Tech Park for their office location. Significant investment has been placed on infrastructure in Thu Duc City. As the heart of the innovative urban area, Saigon Hi Tech Park also benefits from the application of advanced technologies of 5G networks to facilitate the development, research, and operation of high-tech products by technology enterprises.

Thu Duc City develops 5G network for science and technology

The infrastructure of Saigon Hi-Tech Park in Thu Duc City is also given special attention. It directly connects to Metro Line 1 which is expected to be operational by the end of 2023. It is evident that transportation from Saigon Hi-Tech Park to other areas is convenient, as it is located on Hanoi Highway enabling direct ride from the park to District 1 in just a 25-minute commute.

Saigon Hi-Tech Park directly connects to Station No. 12 of Metro Line 1

Additionally, Saigon Hi-Tech Park boasts a vast area, providing ample space for businesses to expand their operations, construct warehouses, or establish manufacturing facilities and offices. Moreover, choosing Saigon Hi-Tech Park for offices enables technology companies to enjoy numerous long-term support policies and tax incentives which quickly attracts many businesses to seize this “golden land”.

Is there any office for lease in Saigon Hi Tech Park (SHTP)?

As a concentration of large companies and corporations, it is difficult for small and medium-scale businesses to establish a presence in Saigon Hi-Tech Park. For businesses that do not require building factories or have excessively large scales, leasing office spaces in SHTP to benefit from its tax incentives is an optimal solution. Currently, there are very few office space rental services in SHTP, and one of the rare options is OneHub Saigon Business Park.

OneHub Saigon is a modern integrated business park located at the entrance of SHTP. It promises to be an ideal office workspace of high quality, following the campus-style model applied by many large corporations worldwide, such as Apple and Google.

OneHub Saigon Business Park is expected to attract numerous businesses. With high-quality Grade A offices, competitive costs, and various accompanying amenities, especially the tax-exclusive policies for SHTP tenants, it is an intelligent, cost-effective choice for businesses to establish their offices there.

However, when choosing an office to lease in Saigon Hi-Tech Park or anywhere else, businesses need to consider and pay attention to several factors in order to select a suitable location. In the next part, this article delves into some of the most important issues when choosing an office for lease in Saigon Hi-Tech Park, as well as a deep understanding of OneHub Saigon as a concrete example.

Issues when selecting an office for lease in Saigon Hi-Tech Park

Office area

Saigon Hi-Tech Park is built to concentrate large-scale companies of R&D or production, therefore, there are not many shared office buildings for lease available in the center of Ho Chi Minh City. However, in OneHub Saigon, there are office buildings suitable for various types of businesses, especially those in the high-tech field. With a total floor area of over 160,000 square meters, OneHub Saigon offers flexible space solutions for small and medium-sized enterprises, as well as businesses in need of large floor area offices or those requiring an entire building.

The office space should be optimized according to the business’s operations

Office leasing costs

In the current challenging economic situation, many businesses are gradually shifting offices away from central areas to balance their operating costs.

In terms of cost, it can be said that this is one of the significant advantages for those choosing offices for lease in Saigon Hi Tech Park. Most office spaces in the city center have high rental fees, ranging from $30-50/m2/month, excluding management fees and VAT. On the other hand, in a high-quality office space like OneHub Saigon with LEED Silver certification, the rental costs are highly competitive of only one-third compared to those in the center. With optimized costs and a location just 25 minutes away from District 1 by car, this is a significant advantage of the office for lease in Saigon Hi-Tech Park.

Considering the above rental price advantages, choosing SHTP as the location for office spaces is a reasonable choice, a cost-effective and efficient solution, especially to high-tech businesses and those in the technology industry.

Infrastructure and accompanying amenities

With abundant resources, the investors in Saigon Hi-Tech Park have developed comprehensive service systems for office buildings. In fact, there are several advantages that office spaces in the city center cannot provide.

For instance, OneHub Saigon is designed with open space and lush greenery. According to many experts, offices in an open space with lush greenery can boost employees’ morale, making them more alert and comfortable compared to working in traditional building such as those in the central business districts.

Furthermore, in the near future, there will be dining areas, relaxation spaces, shopping areas, entertainment facilities, and other amenities to cater the needs from basic to advanced needs of tenants as well as residents in the surrounding area of Thu Duc.

Operating hours

To technology or multinational businesses, choosing an office with flexible working hours is essential. Having the flexibility to adjust working hours as needed ensures smooth and uninterrupted operations without the constraints of fixed working hours.

Unlike traditional office buildings that operate within fixed hours, offices targeting technology businesses like OneHub Saigon Business Park open 24/7, facilitating efficient business operations.

Technology businesses require flexible working hours

Types of office-related costs

The costs associated with office leasing are crucial factors to consider carefully before selecting any office building, not only in the SHTP area or at OneHub Saigon. Below are some common types of costs relating to renting an office space:

• Fitting out costs: These are expenses relating to office decoration and furniture arrangements, such as desks, chairs, filing cabinets, reception desks, computers, printers, projectors and many more.
• Maintenance and repair costs: These expenses include maintenance services, renovation, and the replacement of faulty equipment.
• Service costs: These are costs relating to outsourced services, such as cleaning, security, guard services, and technical support services.

Office for lease in Saigon Hi Tech Park have reasonable operating costs compared to those in the central business district.

Parking

Parking could be a challenging issue when leasing an office building. This is a common drawback for many office buildings in the central districts where parking spaces are often filled up quickly. Although it does not directly affect the workspace, it can impact the psychological well-being and work efficiency of employees when they have to spend much time finding long-term parking spots.

However, finding parking spaces at OneHub Saigon would not be as difficult as with offices in the city center. OneHub Saigon has ample space dedicated to parking areas and underground parking, which is comfortable and not restricted.

Therefore, when it comes to parking issues, the office for lease in Saigon Hi-Tech Park has a huge advantage compared to other locations. Additionally, with the future operation of Metro Line 1, many employees can commute using public transportation without the need of parking spaces.

Costs arising during the leasing period

When choosing an office for rent in SHTP or anywhere else, businesses should take note of potential costs that may arise during the leasing period. These include:

• Currency exchange costs: The exchange rate between Vietnam Dong and foreign currencies may fluctuate during the leasing period, affecting the rental payment. It is advisable to clarify this matter with the landlord in advance.
• Rent escalation: In yearly, the landlord will increase the rental price according to inflation and market rates, following the market practice. This term is often specified in the lease contract.
• Fitting out costs: Every business needs a period of time to arrange suitable furniture, equipment and supplies before operations. The rent during this time may be charged in the lease term. However, some landlords waive this rent, only a service fee is payable.
• Other costs: These are additional costs relating to the office operations, such as lunch expenses, employee training costs, advertising costs, and employee commuting expenses.

Lease contracts and security deposit

Tenants should thoroughly read and discuss the terms of the lease contract before signing, as it serves as a direct legal tool to protect their rights in case of disputes or incidents occurring during the lease. Security deposit amount is usually equivalent to three months’ rent of the final lease year. Therefore, businesses need to clarify whether this deposit includes management fees, utilities, or any other incidental costs.

Carefully reviewing and discussing the lease terms before signing is essential

Conclusion

While the office for lease in Saigon Hi Tech Park like OneHub Saigon are considered promising office locations, business owners should carefully consider the issues mentioned in this article. If businesses desire to find a high-quality office space at a competitive cost compared to the city center’s rates, then OneHub Saigon is an ideal and worthwhile choice. Furthermore, with the flexible office spaces at OneHub Saigon, businesses can enjoy business eco-systems together with tax incentives in Saigon Hi-Tech Park.