LSquare Vietnam Surpasses 1 Million Square Meters in Cumulative Transactions... Five Years After Entering the Local Market

Over 350 Transactions Achieved in Five Years Since Entering the Market

LSquare Vietnam, the Vietnamese subsidiary of the commercial real estate services company LSquare, announced on the 21st that it has surpassed a cumulative transaction area of 1 million square meters. This milestone comes five years after establishing its presence in Vietnam, with its Ho Chi Minh office serving as the base of operations.

Since entering Vietnam, LSquare has completed approximately 300 office transactions, 30 factory transactions, and about 20 coworking space deals, totaling around 350 transactions in all.

In the early stages of its Vietnam operations, demand for office relocations by Korean companies accounted for a significant portion of the commercial real estate market. Recently, however, demand for factories has grown, driven by the increasing entry of technology-intensive industries. The growth of industrial complexes in Northern Vietnam has also supported this trend. In the fourth quarter of last year, land lease prices in major manufacturing hubs such as Haiphong (11.7%), Hanam (11.3%), and Haiduong (10.5%) rose by double digits compared to the same period the previous year.

LSquare Vietnam is expanding its business scope beyond brokerage to include interior construction and asset advisory services, in line with the growth in transaction area. The company also reported a more diverse client portfolio, with Korean companies accounting for 30%, local Vietnamese companies for 40%, and global companies for 30% of its clientele.

LSquare cited its data-driven competitiveness as the key to its success. More than 50,000 pieces of data on offices, retail spaces, and factories have been integrated with proptech technology to create a "Vietnam Commercial Real Estate Map." An LSquare representative explained, "Companies entering Vietnam can use this map to compare locations and develop localization strategies," adding, "This is the only service in the Vietnamese market that provides systematic data in an environment marked by severe information asymmetry."

Yoon Suyeon, Chief Investment Officer (CIO), stated, "Vietnam remains an attractive choice for manufacturing companies seeking to diversify their supply chains," and added, "The figure of 1 million square meters is the result of the data and trust we have built locally."

This content was produced with the assistance of AI translation services.