Parc Hanoi marks Indochina Kajima's first office-for-lease project in its $1 billion investment plan in Vietnam.
The Indochina Kajima joint venture has officially started construction on Parc Hanoi, a Grade A office building in Hanoi's West West Lake area.
Built on a land area of 11,318 square meters, Parc Hanoi will offer more than 45,000 square meters of office space when it is expected to be launched in the second quarter of 2027.
The Parc Hanoi project represents a strategic step for Indochina Kajima in addressing and shaping the demand for premium office rentals, with the building designed to achieve dual green certifications Leed and Well.
The developer emphasized that from construction to operations, the project prioritizes locally sourced materials, energy efficiency, and environmental friendliness, ensuring comprehensive sustainability goals.
Situated next to a park, Parc Hanoi dedicates over 20 per cent of its total area to green spaces, including outdoor gardens with diverse vegetation and a network of climbing plants covering the building, fostering a healthy work environment.
The building's indoor air quality is ensured through a cooling system that meets Australia's Grade A standards and an advanced filtration system that effectively removes bacteria and viruses from the air.
“Parc Hanoi is beacon of our commitment to sustainable building practices”, said Keisuke Koshijima, Representative Director, Executive Vice President, Kajima Corporation.
“As a general contractor building landmarks across the globe, we understand the challenges and opportunities of implementing sustainable practices in development and construction, how it is crucial to realizing our ESG strategy, and to shift the entire industry towards environmentally conscious operations”, he added.
Peter Ryder, Executive Chairman of Indochina Capital and Director of Indochina Kajima, said the relocation of 36 central government entities, including ministries, ministerial-level agencies, and affiliated agencies to West West Lake and Me Tri areas highlights that Parc Hanoi sits at a prime location for the future central business district, which will attract the highest quality international and local tenants to West West Lake.
“And Parc Hanoi will stand out with its purposefully crafted environment. Above and beyond an office building, Parc Hanoi embodies a sense of community, connectivity, and wellbeing - a place to thrive for the new, sustainable community of the future”, he added.
West West Lake is emerging as a future hotspot for office leasing, with several Grade A office projects under development.
A few weeks ago, construction began on the Catgo Office Tower, which is set to add 15,936 square meters of office space to the market. Earlier, the Oriental Square building was announced, slated to contribute 14,000 square meters of Grade A office space next year.
Elcom recently acquired a plot of over 7,561 square meters in the West West Lake urban area. The site is planned for a building complex featuring offices ranging from 3 to 17 stories, along with two basement levels.
According to Savills, new projects are expected to add 816,000 square meters of office space to Hanoi's market by 2027, nearly 30 per cent of which will come from West West Lake.
Parc Hanoi is part of Indochina Kajima's $1 billion investment commitment in Vietnam. Other projects in this portfolio include five operational Wink Hotels, two additional Wink Hotels scheduled to open in 2025 and 2026, and three industrial property developments under the Core5 Vietnam brand.
Additionally, the joint venture is developing five more industrial property projects and constructing the luxury Mandarin Oriental, Bai Nom resort in Phu Yen province.
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