Savills Vietnam appointed as lead leasing and marketing consultant for Capital Place
Savills Vietnam is the Lead Leasing and Marketing Agent for Capital Place – Hanoi’s first international grade A modern office development at 29 Lieu Giai, Ba Dinh District, Hanoi
Capital Place is an upcoming international Grade A office complex in Hanoi which will set new standards for offices in the city in terms of development design, efficiency, scale, services and technology.
Capital Place is strategically located in Hanoi’s commercial district in Ba Dinh. The development is in close proximity to the expressway, allowing convenient access to the Noi Bai International Airport in under 40 minutes. Capital Place’s prime location also lies in its connections to major roads and direct access to the upcoming Nhon – Hanoi rail station metro line. Located in the heart of the commercial district, this new development will offer tenants unrivalled, spectacular views of Hanoi’s skyline.
Capital Place will provide approximately 121,000 square metres of gross floor areas across two 37-storey towers. Inspired by local legend, the likeness of a dragon was incorporated into its façade and lighting scheme, delivering a striking modern look both day and night in the aesthetics of the office development.
The development delivers everything today’s tenants desire: Vietnam’s largest column-free floorplate, raised floors and knock-out panels on each floor to accommodate many different tenant space requirements; acoustic ceilings for effective noise control, high-speed destination control elevators that minimise waiting time, and the use of premium construction materials such as low – emissivity glass to optimize energy consumption. Capital Place will also be the first office development in Hanoi to receive a LEED certification with its generous landscaping and sustainability features.
In the first half of 2019, the Vietnamese office sector witnessed record occupancy levels with strong tenant demand, limited new supply and rapidly growing office rents. The Vietnamese market has the potential for the development of more sophisticated office projects, following current global megatrends. After Grade A rental growth of over 7% in 1Q 2019, the momentum has continued and is set to remain at record levels well into this year and beyond as new supply of quality office spaces is limited. It is crucial for office occupiers to carefully analyse their office needs, plan ahead and manage future occupancy costs effectively.
Matthew Powell, Director of Savills Hanoi, said: “We are very pleased with the leasing progress; Capital Place has attracted strong interest from multinationals and large Vietnamese corporates with ongoing discussions on the leases. When the development is completed in Q3 2020, Capital Place will be home to Hanoi’s most prestigious tenants.”