The Da Nang office market is expected to recover significantly in the third quarter of 2025, especially in the group of large-area rental demand. In the context of limited new supply, the wholesale leasing deal of more than 22,000 m² at TTC Plaza Da Nang has become one of the outstanding transactions of the market this year.
Wholesale rental demand recovers, market records positive improvement
According to the Da Nang Statistics Office, real estate service revenue in the third quarter of 2025 increased by 94.7% over the same period – the strongest increase since 2019. The office segment also showed improvements in both occupancy rates and rental prices. Reports from Avison Young and CBRE Vietnam said that the occupancy rate of class B and C offices reached 80-85%, with average rental prices increasing by 2-3% over the previous quarter. Meanwhile, new supply to the market is not much, mainly coming from restructuring projects or large commercial complexes.
TTC Plaza Da Nang became a bright spot in the market when it completed the wholesale leasing of more than 22,000m2 of office space.
The recovery of technology, trade, logistics and tourism businesses has created momentum for Grade A and B+ office projects in the central area as well as along the Han River. Notably, after more than two years of stagnation, demand for large-scale rental spaces has begun to return, reflecting a more sustainable recovery phase of the market.
The average occupancy rate of the whole market increased from 78% in the second quarter to 83% in the third quarter. New rental area in the quarter reached nearly 9,800 m², showing a marked improvement in absorption compared to previous quarters.
TTC Plaza Da Nang made its mark with the lease transaction of more than 22,000 m², becoming a bright spot in the market
In that context, TTC Plaza Da Nang has become a bright spot with a lease transaction of more than 22,000 m² - one of the largest deals in Da Nang in 2025. The project developed by Saigon Thuong Tin Real Estate Joint Stock Company - TTC Land (HOSE: SCR) has completed leasing the entire office block, reflecting the growing demand for high-quality, large-area offices, especially from businesses expanding operations in the Central region.
Perspective inside the office for rent at TTC Plaza Da Nang project.
Previously, TTC Land completed the handover of the Commercial Base Block to AeonMall Vietnam. Most recently, the enterprise continued to sign a contract to lease the entire basement area of more than 23,000 m².
The wholesale leasing transaction of the entire office tower of more than 22,000 m² – which took place when the project had not yet come into operation – shows the strong attraction of TTC Plaza Da Nang and the trend of enterprises prioritizing buildings with large enough scale, professional operation and flexible area.
Located on Dien Bien Phu axis, the traffic route directly connecting the airport with the center, TTC Plaza Da Nang is positioned as a modern commercial - office complex. The project is optimally designed for large rental demand, meeting the requirements for high-standard working space of both FDI and domestic enterprises.
It is forecasted that in 2026, the Da Nang office market will maintain a stable growth rate. Enterprises will continue to prioritize buildings with professional operating systems, complete utilities and the ability to provide flexible areas.
In that trend, TTC Land identifies the development and operation of commercial assets as a strategic pillar in the coming period. TTC Plaza Da Nang is considered a core project, contributing to reshaping the supply of high-quality offices in Da Nang.
The wholesale leasing transaction of more than 22,000 m² in the third quarter of 2025 is a testament to the project's attractiveness and its ability to meet large-scale leasing needs - which has been lacking in the market for many years.
In the period of 2026-2030, TTC Land continues to orientate the expansion of the commercial asset system to ensure stable cash flow, aiming for a synchronous asset management model, ensuring sustainable operations, increasing exploitation efficiency and enhancing the position of enterprises in the commercial real estate - office segment.
According to Cong An Nhan Dan Newspaper