---
08.06.2022, 16:00

As Vietnam’s Office Market Bounces Back After COVID Slump, Grade A Offices Deepen Footprint In Hanoi

Every worker wants an office that inspires productivity. But the past two years living with COVID-19 have made us aware that we deserve more: An avenue for creative pursuits, 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 Office FiT report found out that while the office itself is essential, its configuration — how it’s designed and how all the elements in it are arranged — is a key attraction point for employees. Additional work settings, collaborative spaces, and virtual communications must all be taken into account with appropriate space allocation.

Grade A properties are made to offer modern facilities with the highest quality of services.

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 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.

A new era in 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 a 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 brought new standards to the city’s high-end office lease market.

Capital Place is a Grade A office building comprises of 2 towers of 37 floors in Hanoi that opened in the third quarter of 2020 — amidst the uncertainties of a pandemic. 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-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.

Capital Place features the largest column-free premises in Vietnam.

Located just 30 minutes from the Noi Bai International Airport, 10 minutes to Hanoi Old Quarter and the West Lake, Capital Place is also the first commercial project in Hanoi with a direct link to Metro Line, Kim Ma-Nhon 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.

Capital Place is now home to some of the most innovative companies in Vietnam.

Ms. Nguyen Le Dung, Director of Hanoi Office, shared, “The unprecedented changes brought by COVID-19 have made occupiers become more focused on the quality of building and offices. Skylights, office fresh air, greenery areas: They all contribute to better working experiences. With COVID, it has 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.”

“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.”

Ms. Nguyen Le Dung, Director of Hanoi Office.

The Future is Green

Even before the new findings revealed how critically damaged the Earth has become, all developers of Grade A offices market in Hanoi have already understood how significant it is to put sustainability at the center of its design and operations. There are many projects in the pipeline now being developed and constructed in order to meet the green credentials such as Lotus, BREEM, or LEED Certification.

Capital Place is the first office building in Hanoi to be LEED Gold certified.

“Occupier demand will be most resilient for sustainable office buildings, and we truly believe that 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 Mr. Eddie Lim, CEO of Viva Land.

“It will come as no surprise to see sustainability on 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 not a passing trend for office occupiers but a factor that holds increasing importance. That being said, the future of office building is green.”

Mr. Eddie Lim, CEO of Viva Land

Capital Place is the first project that opens the era of green buildings in Hanoi. It is the first office building in Hanoi to be LEED Gold certified, an international standard certification for green architecture. It 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 a panoramic view of the city. The building uses the highest quality of glass — lowE with two soundproof, heat-proof, anti-UV layers — which contribute to reducing electricity consumption. Capital Place uses 20% of outdoor water and 50% of indoor water usage less compared to other buildings.

This is where luxury and sustainability are combined seamlessly.

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.

About Capital Place
Capital Place, the first building in Hanoi to provide world class Grade-A specifications, offers 100,000 square meter luxurious and green office and retail spaces with the largest column-free office premises in Vietnam, soundproof. From its rich culture to the modern infrastructure, tenants of Capital Place will benefit from a wide variety of amenities within walking distance including restaurants, pubs, supermarkets, and much more. Viva Land Investment & Development JSC (Viva Land) has been appointed as the asset manager for the building.

Capital Place has won many awards and certifications.

Find out more about Capital Place here.