CBRE Vietnam has been appointed as lead leasing and marketing agent for Deutsches Haus Ho Chi Minh Stadt.
Scheduled for completion on August 1, 2017, Deutsches Haus will offer a hitherto unseen standard of design, sustainability and quality to the Ho Chi Minh office market. It has already seen a 30 percent take-up since launch.
According to CBRE Vietnam, Grade ‘A’ office space disappeared from the market towards the end of 2015, clearly indicated by the large spikes in net absorption. It said that moving into 2016 there are only five existing buildings in the central business district (CBD) of Ho Chi Minh City that can provide a tenant with more than 1,000 sqm of contiguous office space.
With only one new Grade ‘A’ project scheduled for completion in the CBD in 2016, following a 4-year stall in construction – and likely facing long delays that could push into 2017 and beyond, those tenants awaiting the arrival of new space in the CBD will look to Deutsches Haus to usher in the new wave of supply.
There should be little doubt that the stakes are high. Both developers and tenants in Vietnam are raising standards and expectations respectively, and as the market opens up towards the end of 2017 and going into 2018 and beyond, large occupiers will need compelling reasons to pick amongst the options.
CBRE said that perhaps the most pressing, and until now most often ignored, of these will be environmental factors. Energy used by buildings can account for as much as 80 percent of a city’s emissions and with greenhouse gas emissions set to double by 2030 and emerging markets being some of the key contributors to this increase, both tenants and developers will need to meet their responsibilities to the environment head on.
In this regard, as of the August 2017 Deutsches Haus will have set the bar dizzyingly high.
Showcasing several “green features” as firsts for Vietnam, Deutsches Haus already has accumulated enough points to acquire LEED Gold certification – LEED being the most universally accredited system to grade the sustainability of buildings, and has made no secret that it is not just targeting but is well within range of becoming LEED Platinum certified and would be the first building in Vietnam to do so.
Of the many sustainable features Deutsches Haus will be showcasing, one of the more notable is the Dual Skin Façade, a first for not just Vietnam but the wider region as well, it will ensure that all 27,196.6 sqm (Net Leasable Area) of office space is both naturally lit and comfortable to work in by allowing sunlight without heat deep into the building.
Situated on the historic site of 33 Le Duan Street, opposite the French and U.S. Consulate Generals and within walking distance of the British, the German Consulate General will be located on the sixth floor of the building, making Deutsches Haus a symbol of political partnership as much as it will be one for business and sustainability as well.
The building is being developed; construction has already hit the 9th Level.
CBRE has announced that high levels of interest have resulted in more than 30 percent of the building being under offer at this stage.