Hanoi's Grade-A offices bounce back post-COVID

Every worker wants an office that inspires productivity, but the past two years have made many aware that they deserve more in terms of an avenue for creative pursuits, meaningful collaborations, and a space to breathe amidst 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 state-of-the-art office buildings for hybrid working arrangements.

The Savills Office Fit report found that while the office itself is essential, its configuration, how it’s designed, and how all the elements in it are arranged are key attraction points for employees.

Additional work settings, collaborative spaces, and virtual communications must all be taken into account with appropriate space allocation.

Some tenants are now exploring their options for flexible and add-on space throughout their buildings and landlords are beginning to incorporate more plug-and-play space within their schemes.

This creates momentum for top-grade properties which offer modern facilities with the highest quality of services. With the new normal, employers and employees are now looking into more balanced and sustainable office spaces.

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 market

A new era in high-end office spaces

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

Capital Place is a grade-A office building that comprises two towers of 37 floors in Hanoi that opened in the third quarter of 2020.

The building brought new standards to the city’s high-end office lease market and provided state-of-the-art functions and amenities within its 100,000 square metre 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 and 10 minutes from Hanoi's Old Quarter and West Lake, Capital Place is also the city's first commercial project with a direct link to the metro line's Kim Ma Station.

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

According to Nguyen Le Dung, director of the Hanoi Office, the unprecedented changes brought by the pandemic have made occupiers more focused on the quality of buildings and offices.

“Skylights, fresh air, and green areas all contribute to better working experiences, and following the period of lockdowns, have become design imperatives. Occupier requirements are increasingly expanding and they want more than just office space. Facilities must take into account criteria around wellbeing, sustainability, and different ways of working. Capital Place is a fantastic choice to satisfy these criteria,” said Dung.

Eddie Lim, CEO of Viva Land

The future is green

Even before the new findings revealed how critically damaged the earth has become, all developers of the grade-A office market in Hanoi understood how significant it is to put sustainability at the centre of their design and operations.

There are many projects in the pipeline now being developed and constructed in order to meet green standards such as those required for Lotus, BREEM, or LEED certification.

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

“It will come as no surprise to see sustainability as the key theme for occupiers, not only in Hanoi but also on a global scale, given the vital importance of both. It is clear that sustainability is not a passing trend for office occupiers and the future of office building is green,” Lim added.

Capital Place was the first project to open the era of green buildings in Hanoi. The building is the first 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 come in and provide a panoramic view of the city. The building uses the highest quality of low-E glass, with two soundproof, heatproof, and anti-UV layers, which contribute to reducing electricity consumption.

Capital Place requires less than 20 per cent of outdoor water and 50 per cent of indoor water usage 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 traditional, modern, or smart offices – without being hindered by the building’s structure.