What is an officetel?

Office-tel is a hybrid between an office and hotel.

It is a self-contained living environment with an apartment and working space.

This model saves much cost and time for the owners, especially suitable for small and medium enterprises who require small office areas.

Officetel is developed with high-grade condominiums by investors and developers to diversify products and match modern dynamic life, because they both have offices and residences.

This is perfectly suited to market needs because the number of new start-ups with few employees is sharply rising.

Making full use of office functions will help enterprises minimise costs and conveniences at work.

Vinhome

An arial view of Hồ Chí Minh City

As a new model, officetel has just appeared in the two major cities of Hà Nội and Hồ Chí Minh City, with most projects located outside the downtown areas.

In Hồ Chí Minh City, there are about 40-50 officetel projects invested by many investors like Bitexco, NovaLand, Vingroup and Hưng Thinh.

The largest city of Việt Nam is expected to have nearly 8,000 officetel units by the end of 2017.

The Hà Nội market has also witnessed some of its first officetel projects with a total supply of about 1,000 units.

Typical projects include Dcapitale Trần Duy Hưng, invested by Vingroup and Officetel Giảng Võ.

Currently, officetel has a wide range of space areas for enterprises, starting from 30 square metres to over 150 square metres.

In addition, this model holds a price advantage over conventional apartments of the same area.

Pool view from an officetel in Hồ Chí Minh City, Việt Nam

The officetel model also has distinct privileges towards perfect services for companies such as reception halls, office-company name boards, standard office services, private passageways, private elevators and high-speed internet systems.

With Việt Nam’s economic integration, more foreign companies are present in Việt Nam and bringing more foreign people to the Southeast Asian nation.

As their stay in the country is not very long, it is not really effective to spend large sums of money to buy luxury apartments.

Therefore, the officetel model is the perfect solution to this.

By LƯƠNG TUÂN

Source: Việt Nam Business Forum

 

 

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