HO CHI MINH CITY, VIETNAM-The Centre Point Office Tower, abuilding that is considered to be the first grade A office buildingto be sold on the open market in Vietnam is on the market. It isone of the only buildings in Ho Chi Minh City built to anAustralian Green Star Environment rating.
Jones Lang LaSalle Inc. is marketing the 306,771-square-footbuilding comprised of 15 levels of offices and two levels of retailspace and points out that being sold in the open market presentsinvestors with a prime opportunity to acquire a high quality assetvia a formal campaign. “It is a very high yielding investmentrelative to other parts of Asia and is expected to sell at a lowprice in comparison to other markets in the region,” says JLL. Thecompany tells GlobeSt.com that the price for the Vietnam officeblack is $60 million and interested investors so far are “all Asianbased groups—two from Singapore; one from Hong Kong; and one fromJapan.”
David Lyons, managing director, for JLL Vietnam says that“Vietnam has good domestic economic prospects based on rising fixedinvestment and falling dependency rates. Ho Chi Minh is particularis expected to benefit from these factors with a growing number ofmajor multinational corporations looking to base themselves in thecity.”
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