As Industry 4.0 continues to drive changes in business models, many companies are placing a greater emphasis on creating workspaces that support an open, collaborative and sharing environment, which will lead to improved employee productivity and satisfaction.
Campus-style office model at Singapore Science Park
Industry 4.0 is changing the role of workplaces
As we move towards a more open and connected world arising from Industry 4.0, many companies are recognising the importance of creating an office environment that encourages interaction, collaboration and discussions. Shifting away from the traditional office concept, many large and successful technology companies such as Facebook and Google, are choosing campus-style office models over cramped offices in skyscrapers. Campus-style offices usually feature low-rise buildings with high ceilings, spacious floor layouts, fully-equipped facilities and lush greeneries.
Designed to provide a seamless and vibrant work-live-play-learn environment for its tenants and surrounding community, the campus-style office model is relevant and favoured by millennials, as they seek a work culture and environment that not only stimulates creativity, but also offers increased flexibility and more opportunities for networking and interaction.
The campus-style office model also helps to boost the well-being of tenants, as it allows people to engage with each other through sharing of thoughts, open discussions, networking opportunities and various lifestyle activities. By investing in such models, businesses demonstrate their commitment in meeting their employees’ needs and hence are better able to attract and retain talents. This will in turn help companies improve employee productivity and build a sustainable workforce.
In Singapore, many large companies congregate within business parks (photo is Changi Business Park). The business park model is expected to take off soon in other major cities in the region such as Jakarta, Bangkok, Manila and Ho Chi Minh City.
Opportunities in Ho Chi Minh City’s office market
Available office space in Ho Chi Minh City is scarce, with vacancy rates of 3.7% and 2.0% for grade A and grade B properties respectively (CBRE, 3Q2018). This is driven by strong demand from enterprises, especially technology firms looking to expand. Against a backdrop of limited supply, the growing demand for such spaces has boosted rental rates. Similarly, there is a growing demand for quality spaces that are built with sustainable features such as campus-style type developments. The OneHub Saigon project is a prime example of such a campus-style business park model. It aims to offer millennials a people-centric environment to network and collaborate with other individuals and businesses.
Spread across 12 hectares, OneHub Saigon comprises seven low-rise office towers, a mixed-use commercial block, work-office home-offices, an education centre and recreational amenities such as a futsal court. It also features large gardens with lush greeneries and developments with sustainable features. For example, Office Tower 1 and 2 are both LEED Silver-certified.
Large gardens with lush greeneries and developments with sustainable features at OneHub Saigon.
Strategically located within the vibrant Saigon Hi-Tech Park, OneHub Saigon is also well-positioned to create an ecosystem that fosters collaboration and the mutual exchange of knowledge, by offering tenants access to a wider community of MNCs located in the Hi-Tech Park, as well as the academics and students in the nearby Thu Duc University Village. OneHub Saigon is also conveniently connected via Hanoi Highway and within walking distance to the Metro Station, providing tenants with easy access to key locations such as Tan Son Nhat International Airport and the Central Business District.
Developed on a 12-hectare site, OneHub Saigon provides fully integrated amenities that will completely transform office standards in Vietnam.
OneHub Saigon will be developed over four phases. Phase 1, which was recently completed, includes Office Tower 1, a landscape garden and two event plazas. Tower 1, which has a net leasable area of approximately 10,199 sqm spread across six floors, offers tenants quality office space built in accordance with international standards and industry specifications. It features 3-metre-high floor ceilings (compared to the average 2.7-metre-high floor ceilings in Grade-A office buildings in Ho Chi Minh City); double glazed walls to maximise natural light; and minimal pillars for effective and economical use of space.
OneHub Saigon, a joint venture between Ascendas-Singbridge Group and Saigon Bund Capital Partners, aims to provide a seamless and vibrant work-live-play-learn environment for its tenants and the surrounding community. The 12-hectare development will comprise seven office towers, a mixed-use commercial block, work-office home-offices, an education centre, as well as recreational amenities built with sustainable features.
Tower 1, with a total net lettable area of 10,199 sqm, was officially handed over in November 2018. The tower is currently occupied by two major tenants – IKEA Purchasing & Logistics Southeast Asia and AAH Corporation, and is scheduled to commence operations in the first quarter of 2019.
Construction of Tower 2 commenced in December 2018 and it is expected to be operational in the second quarter of 2020. Tower 2 has a gross floor area of approximately 20,333 sqm, spread across 10 floors and two basements.