Tall & Urban News

Capital Place, an international Grade A modern office development located on 29 Lieu Giai, Ba Dinh district, Hanoi, will be available to lease by the third quarter of 2019. The structure is expected to set new standards for offices in the city due to its high-standard development design, efficiency, scale, services, and technologies in use.

“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 the third quarter 2020, Capital Place will be home to Hanoi’s most prestigious tenants,” said Matthew Powell, director of Savills Hanoi.

Capital Place will provide approximately 121,000 square meters of gross floor area across two 37-story towers. Inspired by local legends, the likeness of a dragon was incorporated into the façade and lighting of the scheme, delivering a modern look for both day and night in the aesthetics of the office development.

The development is near the expressway, allowing convenient access to the Noi Bai International Airport. Capital Place will also have connections to major roads for the upcoming Nhon-Hanoi rail station metro line.

In the first quarter of 2019, the local office sector has witnessed record occupancy levels with strong tenant demand, limited new supply, and rapidly growing office rents.

After Grade A rental grew over 7 percent in quarter one of 2019, momentum has continued and is set to remain at record levels well into the year and beyond, as supply of new and quality office spaces is limited.

For more on this story, go to The Leader.