Savills Vietnam successfully advised Spaces to Belvedere Hanoi

24 May 2019

The prime flexible workspace brand – Spaces – was recently introduced by IWG in Vietnam with a flagship location at Belvedere Building, 28A Tran Hung Dao, Hoan Kiem, Hanoi. Savills Vietnam advised on this lease transaction.

IWG is the world’s leading workspace provider with over 3,000 locations worldwide and consists of 6 brands: Regus, Spaces, No.18, Openoffice, Basepoint and Signature. Regus was introduced in Vietnam in 1998 and 20 years of operation in Vietnam, Regus has become a renowned serviced office provider with a network of nine locations totalling over 9,000 sqm.

Continuing the success of Regus, Spaces is the second brand that IWG has introduced to Vietnam. Spaces focuses on providing flexible office solutions with a creative design and a wide range of amenities for clients and visitors. Founded in 2008, Spaces was an early adopter of the co–working trend and has proven its success with over 160 locations worldwide.

Spaces required a unique premise for its first flagship location in Hanoi. Despite limited grade A office space in Hanoi CBD, Savills Vietnam introduced Spaces to Belvedere Building – an ideal match for the brand’s direction on concept, location, visibility and operating requirements. Centrally located at 28A Tran Hung Dao which is perfect for Spaces clientele, Belvedere is a 10 storey office building managed by Savills – the leading real estate consultancy in Vietnam.

Ms. Hoang Dieu Trang, Senior Manager, Commercial Leasing, Savills Hanoi believes IWG made a strong move with its Spaces brand in Hanoi. “Savills was glad to assist in this transaction. Source and negotiating this prime location for Spaces was challenging; however, the final product looks amazing and we are sure it will be very successful in the flexible workspace market in Hanoi. ”

Spaces Belvedere provides over 2,500 sqm office space, including 460 workstations, a 353 sqm business club, event spaces, meeting rooms, café, rooftop terrace and F&B areas, etc. Spaces Belvedere also offers flexible contracts from short-term access to long-term occupancy, based on each business’ needs. The premium service offering also includes full access to a network of 160 Spaces location and 3000+ IWG business lounge worldwide for any member without any external costs.

Mr. Matthew Powell, Director, Savills Hanoi said: “This transaction marks another successful collaboration between Savills Vietnam and IWG. We wish Spaces great success in Vietnam and hope its first flagship location at Belvedere building lead to a strong network of locations all over the country and worldwide.”

Spaces at Belvedere opened officially on 7May 2019.


Key Contacts

Linh Dinh Huong

Linh Dinh Huong

National Head
Marketing Communication


+84 24 3946 1300 Ext 112