VIETNAM — Jones Lang LaSalle is marketing The Centre Point Office Tower, the first grade A office building to be sold on the open market in Vietnam.

The property totals 28,500 sqm and comprises 15 levels of offices and 2 levels of retail space.

David Lyons, Managing Director, for Jones Lang LaSalle Vietnam commented, “Vietnam has good domestic economic prospects based on rising fixed investment and falling dependency rates. Ho Chi Minh in particular, is expected to benefit from these factors with a growing number of major multinational corporations looking to base themselves in the city.”

“Vietnam is expected to increase its real growth trends from 7.5% to slightly over 8% over the next five year period. Demand for Grade A space is closely linked to GDP growth and this year demand increased at the first quarter as foreign companies continued to look for space in the city,” he said.

Dr Megan Walters, Head of Research for Asia Pacific Capital Markets said, “Vietnam’s financial system has been largely unscathed by the global financial crisis, the sharp rebound in global trade will, in the long term benefit  the exports of coffee, electronics garments and rubber.”

“Improvements in government policy and lessons learned coupled with further investment and production, should lead to a lower level of inflation in the next five years. An economy which has a rising share of fixed investment, builds capacity to have greater growth in the future,” she said.

She continued,“ The improvements in Government policy, an increase in productivity from a growing population together with more investment, will provide a solid base for Vietnam’s domestic economic expansion over the next five years.”