Capital Place – Setting new standards for Grade A office buildings
Being the first office project in Hanoi by CapitaLand, Capital Place is expected to bring the features and functions that businesses have long been seeking in the capital, becoming a golden location for domestic and international businesses.
Diverse criteria for office building evaluation
According to experts from real estate consulting firm Colliers Vietnam, there is currently no set of general standards across the world to categorise grade A, B, C offices, most criteria depend largely on the domestic market environment. For instance, car park standards are essential in Hong Kong, but in the UK this is not a huge concern. In Australia, environmental factors play a huge role even though this is not the case for a lot of countries. Another example can be seen in Japan where the safety index and standards are considerably higher than other countries in the region. These standards will often vary according to specific market conditions and can change over time.
Currently, Vietnamese office systems are judged using European – US standards, including 22 criteria that are commonly applied such as: built new completely and designed luxuriously, prime location in the central area, high-quality construction materials, ceiling height of 2.7m, raised floor system, intelligent building management system.
The determination of office-grade also hugely affects the rent. Grade A office rent prices are about 15-30% higher than Grade B and 30% or higher compared to Grade C. Grade A office buildings are rated highly for their convenience and quality of service that it brings. Although the rent prices are quite high (from US$30/m2 or more), these buildings always reach the ideal occupancy rate of 90-95%.
Capital Place brings new standards to the office rental market
Capital Place is developed by CapitaLand - the largest real estate developer in Asia with its headquarters in Singapore. With experience in developing high-end real estate projects in 32 countries around the world, CapitaLand applied strict corporate standards for every project, while taking into account the local characteristics to tailor to the needs of each market to the highest standard.
Towering above Lieu Giai and Van Cao streets, Capital Place is located in the heart of Ba Dinh District, one of the most bustling business areas of the capital, and home to the Embassy of Japan and the Embassy of Australia. Capital Place’s leasable office spaces feature one of the largest column-free floor areas, up to 1,200m2/floor to help optimise space and design efficiency. Flexible inter-floor connectivity offers a smart and efficient solution for multi-floor offices, with customers having the option to have their private stairs or elevators in their own office.
Standard acoustic raised floors by 15cm helps to ensure safety standards. Low-E glass windows with 2.7m ceiling height are installed with double glazing, heat-resistance, anti-UV, and soundproofing features, with full views towards the spectacular West Lake. Across the 2 towers, 32 high-speed elevators run at 6 metres per second, assigned to individual zones to reduce waiting time for guests.
In the context of air pollution problems in Ha Noi, advanced air filtration system with Merv 13 filters extract harmful particles up to 0.4 micrometres are equipped throughout the whole building to ensure healthy air quality indoors.
Besides that, the tenants here will also enjoy many modern and luxury amenities such as the impressive 9m ceiling height grand reception area, multi-layer security system with face recognition, executive shower and private handicap toilet on every floor. In addition to that, Capital Place will operate following international standards, with The Sankei Building (Japan) as the building’s operator.
Expected to go into operation in the third quarter of 2020, CapitaLand’s Vietnam representative said: “Capital Place will not only be an excellent international Grade A office building but will also bring to you the best functions and amenities that businesses in Ha Noi have long been waiting for, offering the perfect working environment for leading companies."
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