HCMC International Financial Centre and the Office Market

HCMC International Financial Centre: Its Impact on the Office Leasing Market

More than six months after officially launching, the International Financial Centre in Ho Chi Minh City (VIFC-HCMC) has become the topic office tenants are watching most closely. Hundreds of companies have registered as members, new Grade A towers are clustering around the area, and many experts see it as the office market's biggest growth driver for the next 5–10 years.

But what does the IFC actually change for a business looking for office space? Will rents rise? Should you lease inside or outside the IFC area? At SEE the SPACE, we have pulled together the key facts and a practical view for tenants.

What Is the HCMC International Financial Centre and Where Is It?

Legal basis: Vietnam's International Financial Centre was established under National Assembly Resolution 222/2025/QH15 (27 June 2025) and Government Decree 323/2025/ND-CP (18 December 2025). It is a single centre operating in two locations: Ho Chi Minh City and Da Nang.

Location in HCMC: The IFC area covers about 898 hectares, including:

• Sai Gon Ward and Ben Thanh Ward: The core of former District 1, home to most existing Grade A office buildings.
• Thu Thiem New Urban Area (An Khanh Ward): New land for large-scale office developments.

This links the old and new centres on either side of the Saigon River. CBRE describes it as a "dual-hub" model.

Timeline: VIFC-HCMC officially began operating on 11 February 2026. The 2026–2030 phase focuses on completing the legal framework and core infrastructure and piloting priority financial products.

Key Figures After Six Months of Operation

• More than 500 companies have registered as VIFC-HCMC members.
• Around USD 20 billion in committed capital from domestic and foreign investors and partners.
• HCMC rose 11 places to 84th of 120 in the Global Financial Centres Index GFCI 39 (2026), ranking third in Southeast Asia.
• The IFC area currently has about 765,000 sqm of office space across 33 buildings, expected to exceed 1.09 million sqm by 2030 (CBRE).

Note: membership registrations do not translate directly into office demand. Many members do not yet need, or have not yet opened, a physical office here.

4 Key Impacts on the Office Leasing Market

1. New Grade A supply is concentrated in the IFC area

According to CBRE, about 76% of HCMC's future Grade A supply will be located in the IFC area. In 2026–2028 alone, around 165,000 sqm of Grade A space is expected from projects such as The Kross, Opusk, Saigon Centre 3 and Millennial.

Recently opened towers such as Saigon Marina IFC (2 Ton Duc Thang Street) also sit right inside the area, with a direct connection to Ba Son underground station on Metro Line 1.

2. Demand from high-quality tenants

Sectors VIFC-HCMC is prioritizing include fintech and digital assets, asset and fund management, green finance, trade and logistics finance, aviation and maritime finance, and capital markets. The centre also aims to attract global capability centres (GCCs) of multinational corporations.

According to CBRE, capital flows and international financial institutions over the next 5–10 years will raise demand for internationally certified Grade A offices.

3. Office standards are rising

Financial-sector tenants have stricter requirements than typical occupiers:

• Reliable, redundant IT and telecoms infrastructure
• Data security, backup power and continuous operations
• Green and wellness certifications such as LEED, WELL and EDGE
• Large, efficient floor plates with collaboration spaces and staff amenities

This puts pressure on older buildings to upgrade if they want to keep tenants, and accelerates the flight-to-quality trend seen over the past few years.

4. Grade A rents supported over the medium to long term

In the first half of 2026, average Grade A rent in HCMC was around USD 47.2/sqm/month, up 1.6% year on year. Grade A vacancy fell sharply from a year earlier to about 16.7% (CBRE).

However, CBRE also expects transactions in 2026 to remain cautious, with the IFC becoming a clear growth driver from 2027. In other words, the impact on rents will be gradual rather than sudden.

What Should Businesses Do? SEE the SPACE's View

If you are a financial, fintech company or a VIFC-HCMC member: An office inside the IFC area gives you access to the ecosystem, partners and regulators. Prioritize buildings with green certification, redundant IT infrastructure and room to expand.

If you need a central address on a tighter budget: Good-quality Grade B buildings or serviced offices in Sai Gon and Ben Thanh wards still offer a prime location at a more reasonable cost.

If your lease expires in the next 1–2 years: This is a good time to negotiate. New supply is coming online while the IFC's stronger impact is expected from 2027. New buildings often offer incentives to early tenants, such as rent-free periods or fit-out support.

If your business doesn't depend on a central location: Areas such as former District 3, Phu Nhuan, Tan Binh or the East remain a good balance of cost and convenience.

👉 Read more: Negotiating an Office Lease in a High-Rent Market: 7 Things You Need to Know and Office Lease Budget 2027.

Frequently Asked Questions

Where is the HCMC International Financial Centre?

The IFC area covers about 898 hectares, including Sai Gon Ward, Ben Thanh Ward (the core of former District 1) and Thu Thiem New Urban Area in An Khanh Ward.

Will the IFC push office rents up sharply?

According to research firms, the IFC supports Grade A rents over the medium to long term, but the effect is gradual and more visible from 2027. Significant new supply in the area also helps keep the market balanced.

Can companies that are not IFC members lease offices in the area?

Yes. Office buildings in the IFC area lease to any company; VIFC-HCMC membership is not required.

Which new Grade A buildings are coming to the IFC area?

Projects in 2026–2028 include The Kross, Opusk, Saigon Centre 3 and Millennial. Saigon Marina IFC is already operating and attracting strong tenant interest.

Find an Office in the IFC Area With SEE the SPACE

The office market around the IFC is changing fast, with many new projects and different incentive packages. SEE the SPACE helps you:

• Compare buildings inside and outside the IFC area by budget and real needs
• Stay up to date on the latest incentives from newly launched Grade A towers
• Negotiate rent and lease terms
• Get support through to space handover

Browse our offices for lease in District 1, offices for lease in Thu Duc – Thu Thiem and green office buildings.

📞 Contact us for a free consultation:

SEE the SPACE – Your Space, Expertly Guided

📞 Hotline: 0768 999 647 📧 Email: leasing@seethespace.vn 🌐 Website: seethespace.vn

Sources:

• HCMC International Financial Centre: where will demand for 1.1 million sqm of offices come from? – Bao Dau thau (in Vietnamese)
• HCMC's international financial centre pushes the office market into a race to raise standards – The Leader (in Vietnamese)
• HCMC office market: new momentum from the IFC – Dien dan Doanh nghiep (in Vietnamese)
• HCMC international financial centre located in Sai Gon, Ben Thanh and An Khanh wards – CafeF (in Vietnamese)
• 3 development priorities for the international financial centre in HCMC – Tuoi Tre (in Vietnamese)