Diamond Plaza

Diamond Plaza is a Grade A complex building located in CBD District 1, Ho Chi Minh City. The complex includes a 22 storey building and a 15 storey building which comprises of department store, office, and serviced apartment. The complex was completed and open for business in 1999.

Diamond Plaza was owned and developed by The International Business Centre Co.Ltd. (IBC) - a joint venture of Posco Engineering & Construction Co.Ltd (60%). and VN Steel (40%).

Land title of the property is leasehold, expires in 2043.

March 2016, Lotte Group acquired of 50% stake of Diamond Plaza from Posco.

Posco hold 60% shares in Diamond Plaza. There are some medias reported that Lotte acquired 70% of Diamond at the time. As per one of the reliable stock market news page (https://vietstock.vn/2016/04/thuc-hu-so-huu-cua-lotte-tai-diamond-plaza-763-471816.htm), the transaction with Lotte was 50% of Diamond Plaza. 

Q1 2007: CBRE Report: Average office rent US$40/sqm/month included service charge & VAT.

Q4 2018: Colliers' Vietnam Quarterly Knowledge Report, reported asking rents were in the range of US$41/sqm/month and management charge at US$8/sqm for the office areas. Department store rent US$166/sqm/month for and serviced apartment rental rates US$29/sqm/per month. All prices are excluding VAT and quoted as net. Also according to the report, occupancy rate was 95% for office, 100% for department store and 90% for serviced apartment.

Q4 2019 as reported:

The average monthly asking office rent is reported to be about US$34/sqm/month excluding US$8 service charges and VAT. Overtime US$15 per hour.

The average monthly asking retail rent is reported to be about US$130/sqm/month including fees but excluding VAT.

The average monthly asking apartment rent is reported to be about US$30.7/sqm/month excluding fees and VAT.

The preferred lease term is 2 years and a 3 month deposit is required. Motorbike and car parking fees are US$10 and US$150 per month respectively.