Grade A offices deepen post-Covid footprint

By Phong Van   June 9, 2022 | 06:00 pm PT
Grade A offices are seen to gain momentum in 2022 onward, as tenants begin to assess new hybrid working arrangements.

Every employee desires an office that inspires productivity. But the past two years living with Covid-19 has made employees aware that they deserve more: An avenue for creative pursuits, and meaningful collaborations, and a space to breathe in the midst of the constant action.

As the demand rises for premium office spaces that meet evolving business needs and worker preferences, property developers are now more focused on creating high-quality and state-of-the-art office buildings for hybrid working arrangements.

A Savills report found that while the office itself is essential, its configuration, how it's designed and how all the elements in it are arranged, is key attraction points for employees. Additional work settings, collaborative spaces and virtual communication must all be taken into account with appropriate space allocation.

Some tenants are now exploring their options on flex space, grow-on space throughout the building, as landlords begin to incorporate more ready-to-go "plug and play" space within their schemes.

This creates a momentum for Grade A properties, which are made to offer modern facilities with the highest quality of services. With the new normal of working, employers and employees are now looking into more balanced, sustainable and favorable office spaces.

Employees are looking into more balanced, creative, sustainable office spaces. Photo courtesy of Capital Place

Employees are looking into more balanced, creative, and sustainable office spaces. Photo courtesy of Capital Place

New era of high-end office market

Grade A office buildings are the pinnacle quality. Pure Property Finance defines this office specification as property that's brand new or has undergone a complete redevelopment with high-specification renovation, well-located with good access and professionally managed.

In Hanoi, where Grade A rents are predicted to be stable, the twin towers of Capital Place are deepening their footprint in the city's Grade A office market.

Capital Place comprises of 2 towers of 37 storeys. Photo courtesy of Capital Place

Capital Place comprises two towers of 37 stories. Photo courtesy of Capital Place

Capital Place is a Grade A office building comprising two towers of 37 stories in Hanoi that opened in the third quarter of 2020, amidst the uncertainties of the Covid-19 pandemic. The building provides state-of-the-art functions and amenities within its 100,000-square-meter luxurious and green office and retail spaces. Some of its most notable features include column-free premises, soundproof floors, acoustic ceilings, and 32 high-speed lifts.

Located just 30 minutes from Noi Bai International Airport, 10 minutes from Hanoi Old Quarter and the West Lake, Capital Place is also one of the first commercial projects in Hanoi with a direct link to the metro's Kim Ma-Nhon Station.

Nearly two years since it opened, Capital Place is now home to some of the most innovative companies in Vietnam, including Microsoft, Standard Chartered, HSBC, Shopee and Porsche.

Nguyen Le Dung, director of Hanoi Office, said: "The unprecedented changes brought by Covid-19 has made occupiers become more focused on the quality of buildings and offices. Sky lights, office fresh air, greenery areas all contribute to better working experiences. With Covid, these elements have become a design imperative. Occupier requirements are increasingly expanding in terms of wanting more than just office space, but also taking into account criteria around wellbeing, sustainability, and different ways of working. Capital Place surely is a good choice to satisfy these criteria."

Eddie Lim, Chief Executive Officer at Viva Land. Photo courtesy of Eddie Lim

Eddie Lim, Chief Executive Officer at Viva Land. Photo courtesy of Eddie Lim

The green future

Developers of grade A offices in Hanoi have understood how significant it is to put sustainability at the center of design and operations. There are many projects in the pipeline now being developed and constructed in order to meet green credentials like Lotus, BREEM or LEED Certification.

"Occupier demand will be most resilient for sustainable office buildings, and we truly believe the buildings that are built with the focus on green, sustainability and wellness of the end-users will remain the most premium option for occupiers," shared Eddie Lim, CEO of Viva Land.

"It will come as no surprise to see sustainability become the key theme for occupiers not only in Hanoi but on the global scale, given the significant and vital importance of both. However, what is clear is that sustainability is no passing trend for office occupiers but factors that hold increasing importance. That being said, the future of office building is green."

The building uses the low E, high quality of glass to get natural light. Photo courtesy of Capital Place

The building uses the low E, high quality glass to maximize natural light. Photo courtesy of Capital Place

Capital Place opens the era of green buildings in Hanoi. The building is one of the first office buildings in Hanoi to be LEED Gold certified, an international standard certification for green architecture. Capital Place accommodates a green and sustainable working environment with a verdantly lush space adorned with a myriad of flora.

Inside each office floor space are floor-to-ceiling glass walls that allow natural light to enter and a panoramic view of the cultural city. The building uses the high quality glass, low E with two soundproof, heat-proof, anti-UV layers, which help reduce electricity consumption. Capital Place uses less than 20 percent of indoor water and 50 percent of outdoor water compared to other buildings.

With its ideal floor plan, spectacular views and natural light, Capital Place enables businesses to freely design their own creative workspaces, whether a traditional, modern or smart office, without being hindered by the building's structure.

Capital Place is a modern, luxurious Grade A office project based on international standards, offering nearly 100,000-square-meter office and retail spaces.

Officially opened in the third quarter of 2020, Capital Place promises to be an outstanding office project with international quality in service, connectivity, and operational management, meeting all tenant needs.

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