00:52 (GMT +7) - Monday 16/12/2019

Property

Q3 handover for the Thai Building

Released at: 08:18, 31/08/2019

Q3 handover for the Thai Building

Photo: Savills Vietnam

New Grade A office project in Hanoi to be handed over this quarter.

by Ngoc Lan

The Thai Building, a new Grade A office project developed by the Hop Thanh Investment and Mineral JSC, will be handed over in the third quarter of this year.

Strategically located in the emerging western area of Hanoi at Lot E2, Cau Giay NUA, Cau Giay district, the building faces Duong Dinh Nghe Street, which connects Cau Giay and the Me Tri and My Dinh urban areas. The building is surrounded by large commercial premises and sizable residential developments.

The project provides 25,000 sq m of quality space for corporate occupiers with energy-efficient low-E glass, premium interior materials, and seven high-speed lifts. The Thai Building effectively allocates its functional areas with three underground parking levels, six levels for conference rooms and services, and 15 levels of office space.

The three-story “Great Meeting Hall” provides 700 seats, while other conference rooms are of various sizes, offering tenants flexible meeting and event solutions.

Savills Vietnam has been officially named the Exclusive Leasing and Property Management Agent for the Thai Building. According to the Savills Vietnam Market Report for the first six months of 2019, Hanoi’s office market experienced increasing rent and occupancy, with the most robust growth in the west. The gap between Hoan Kiem’s CBD index and the non-CBD index decreased in the second quarter of 2019, which suggests rising quality of projects in the west and midtown areas. The entry of the Thai Building aligns with this market trend.

Mr. Matthew Powell, Director of Savills Hanoi, said that cooperation between its Commercial Leasing team and Property Management team aims to unlock the full potential of the Thai Building. “As Grade A office is in high demand but of low supply in Hanoi, our leasing consultants are excited to introduce tenants to this commercial development in the west,” he added. “In addition to leasing consultancy, Savills will also provide property management and operational services for the property. One major concern for corporate occupiers is the quality of property management provided. The decision by the Hop Thanh Investment and Mineral JSC to select our international-standard property management services demonstrates their commitment to providing tenants with the full Grade A package.”

Savills Vietnam has recently become the Lead Leasing and Marketing Agent for Capital Place, Hanoi’s first international Grade A office development, which will be completed in the third quarter of 2020.

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