The Hanoi office leasing market is expected to enter a period of more intense competition as the supply of Grade A office space continues to expand. Recent market developments indicate that many developers and office operators are placing greater emphasis on enhancing tenant experience and delivering greater overall value to occupiers.
Positive Leasing Demand Maintained
According to Cushman & Wakefield’s market report, Grade A offices in Hanoi continued to record solid leasing demand in the second quarter of 2026, with net absorption of approximately 24,000 sq m. As the market receives additional new supply, this performance indicates that leasing activity remains positive while also reflecting increasingly intense competition among premium office projects.
Over recent years, Hanoi’s office market has seen a steady improvement in absorption. After falling to around 7,000 sq m in 2023, net absorption increased to nearly 58,000 sq m in 2024 and approximately 60,000 sq m in 2025. These figures point to a recovery in leasing demand and provide a foundation for the continued development of the high-quality office segment.
Hanoi office absorption figures (Source: Cushman & Wakefield)
The relationship between occupancy rates and supply indicates that the market is increasingly placing greater emphasis on product quality, operational efficiency and tenant experience. This presents a new challenge for developers and office operators as they seek to strengthen competitiveness and deliver tangible value to tenants.
Experience Becomes a Key Competitive Factor
More broadly, as Grade A office supply continues to expand, developers and office operators are expected to pay greater attention to creating working environments that offer convenience, support business operations and meet the long-term needs of enterprises.
ROX Lease, a member of ROX Group and a developer of an integrated commercial real estate leasing ecosystem, is one example of an operator adopting a tenant-centric approach. Its strategy ranges from offering flexible leasing policies to enhancing the tenant experience throughout the occupancy journey. The objective goes beyond meeting businesses’ basic need for workspace to creating additional value for companies, employees and brands within the office building.
Grade A office building ROX Tower at 54A Nguyen Chi Thanh, featuring a large LED screen
At ROX Tower 54A Nguyen Chi Thanh in Hanoi, ROX Lease is currently offering a range of flexible policies designed to support tenants’ business activities and brand-building efforts. Under the current program, customers signing leases during the applicable period can receive a complimentary advertising package on the building’s LED screen, providing businesses with an additional channel to promote their brands directly at their workplace.
Alongside rental rates starting from USD 24++ per sq m, ROX Lease is also offering up to 2.5 months of rent-free fit-out, support of up to eight months’ rent for long-term leases, and flexible leasing areas. These policies give businesses greater flexibility when setting up, operating and expanding their offices.
Another key advantage of the building is its strategic location, with convenient access to public transport, amenities and a large pool of human resources. ROX Tower is located along the Nguyen Chi Thanh–Huynh Thuc Khang–Lieu Giai corridor, providing convenient access to administrative agencies, financial institutions, healthcare and educational facilities, as well as green spaces within a radius of approximately 3 km.
The development of Hanoi’s urban rail network is expected to create additional connectivity advantages for the project, giving businesses more options for commuting and making it easier for employees and customers to access the building. Under the planned network, ROX Tower is located along Metro Line 5, connecting Van Cao and Hoa Lac, with the planned underground section running through Lieu Giai, Nguyen Chi Thanh and Tran Duy Hung. Once developed, the line is expected to provide an additional commuting option for employees working at the building.
ROX Tower 54A Nguyen Chi Thanh is located near several universities and offers convenient access to Hanoi’s ring-road network
The location can also be considered a “knowledge hub”, with five universities located within a radius of less than 1 km of ROX Tower, including Foreign Trade University, the Diplomatic Academy of Vietnam, Hanoi Law University, the National Academy of Public Administration and Governance, and the Vietnam Youth Academy. The presence of these educational institutions expands access to a young talent pool and may provide businesses with additional advantages in attracting employees.
From an employee perspective, convenient commuting, surrounding amenities and the working environment also contribute to a more positive workplace experience. From ROX Tower, employees can conveniently access administrative agencies, financial institutions and a wide range of amenities in the surrounding area, supporting both professional activities and everyday needs.
From location and amenities to tenant support policies, ROX Lease is gradually expanding the value proposition of office space to address businesses’ needs for operations, brand development and a convenient working environment. With a tenant-centric approach, the company aims to support businesses throughout their occupancy journey while responding to changing expectations around flexibility, connectivity and workplace experience.
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As a member of ROX Group, which recently marked 30 years of development, ROX Lease has accumulated extensive experience in the commercial real estate leasing sector. This foundation enables the company to continuously improve service quality, better understand tenant needs and create long-term value for businesses.