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Humax opens R&D center in Hanoi

Released at: 15:57, 12/04/2017

Humax opens R&D center in Hanoi

South Korean consumer electronics maker selects Hanoi's west as site of new center.

by Ngoc Lan

South Korean electronics company the Humax Co., Ltd has officially opened a new research and development (R&D) center in Vietnam.

The center is located in Handico Tower in Hanoi’s South Tu Liem district. Savills Vietnam was engaged to provide research-supported advice, insight, and guidance to facilitate Humax’s business expansion strategy.

Mr. Park Yohan, Finance Manager at Humax Asia Pacific, said that as Vietnam is a market of potential in the region, it decided upon Hanoi for a representative office in Hanoi in 2015 and two years on it is time to expand. “Humax believes that the opening the new R&D center will provide a good platform to attract young intellectual resources,” he added.

Ms. Hoang Dieu Trang, Senior Manager of Commercial Leasing at Savills Hanoi, said that the west of Hanoi is a vibrant area with increasing demand from major IT and electronics companies seeking large floor areas at reasonable prices. “Humax is a South Korean electronics company and their acceptance of Savills’ recommendation of Handico Tower for establishing their exciting new R&D center is a great example of this growing trend,” she said.

The latest Savills’s report showed that, since 2015, Hanoi’s west is rapidly becoming a preferred business location for domestic IT, telecoms, and foreign technology companies seeking industrial-scale buildings with competitive overheads, easy accessibility, and full facilities.

Fulfilling these requirements against a backdrop of increasing rental costs has become increasingly difficult in the capital, presenting challenges for prospective tenants and building owners and companies are increasingly moving to the west as a result. Samsung and Viettel are now both located in the area.

The office segment in the west has limited Grade A vacancies and secondary Grade A occupancy is sharply increasing as a result of landlord incentives, according to Savills. Grade A outpaced Grade B, with a vacancy rate of just 6 per cent in the west.

Humax is a South Korean consumer electronics company founded in 1989 and manufacturing set-top boxes, digital video recorders, and other consumer electronics.

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