On the morning of the 11th of April, Grand Terra 36 Cat Linh developed by Thanh Hoa Construction Corporation held a soft-opening event. This Grade A office and retail complex is one of the most hotly anticipated projects in the city. This event signified the commencement of operations at one of the most anticipated commercial projects in Ha Noi in H1/2024.
Grand Terra 36 Cat Linh is built to international standards and the most advanced technical specifications, including eight levels and a five-level basement. It comprises six office levels, three retail levels, and a four-level basement for parking. The complex is spacious and meets the needs of both tenants and visitors. The project has a Net Leasable Area of 14,847 sq m with large floorplates of approximately 1,800 sq m with a 150mm raised floor and finished ceiling.
Photo 1: Grand Terra 36 Cat Linh
With its prime location and well-developed transportation infrastructure, Grand Terra 36 Cat Linh provides convenient access to other districts, including Hoan Kiem, Cau Giay, and Tay Ho.
The prime retail and office complex is only a three-minute walk from Cat Linh station. The 2A Cat Linh – Ha Dong urban railway line means it only takes 15 minutes to travel from Ha Dong to this prestigious property. This helps occupiers to avoid traffic and minimises parking challenges for inner-city employees. The construction site of the underground line from Cat Linh to Le Duan has been completed, and it is expected to reopen Cat Linh Road in 2024, returning a two-way route to the Cat Linh area, and placing the project in a strategic location.
The property is also home to the five-star Grand Mercure Ha Noi hotel, which means tenants, especially multinational companies, benefit from discounted room rates, F&B services, and conference rooms. Soon, the area will have more diverse amenities with nearby developments like Tien Bo Plaza, Horizon building, and the 11A Cat Linh office building.
Grand Terra 36 Cat Linh is one of the few buildings in Viet Nam that meets the strict LEED Gold criteria, fostering energy efficiency and sustainability through optimal technical performance. The building is dedicated to achieving water savings of up to 40% and energy savings of up to 20% on average during its operational phase.
Despite not officially launching until this week, Grand Terra 36 Cat Linh has already received considerable interest and has secured office and retail reservations. Future tenants include domestic and international companies in healthcare, services, finance, and energy.
Photo 2: Mrs. Hoang Nguyet Minh, Senior Director, Commercial Leasing, Savills Hanoi
According to Hoang Nguyet Minh, Senior Director, Commercial Leasing, Savills Ha Noi, the Grade A office segment in Ha Noi is maintaining competitive rents compared to Ho Chi Minh City, or even other APAC markets. With new Grade A supply expected to increase soon, office rents in Ha Noi may stay steady or dip slightly. This new Grade A project satisfies the strict standards of ESG, diverse amenities, convenient transport, and affordable rental prices. She states that the current market is delivering prime opportunities for tenants looking to rent new properties or expand because it offers high-quality and also budget-friendly projects.
“The future office supply of the inner-city area in Ha Noi will shift to Dong Da District, instead of Ba Dinh, with not only Grand Terra 36 Cat Linh but also a series of new projects under construction and will be introduced shortly. This new supply is expected to make Dong Da a new commercial and economic destination for Ha Noi. Therefore, Grand Terra 36 Cat Linh is an opportunity for businesses to take advantage of the time when they can receive many incentives because, in the next few years, the rental prices will increase. Grand Terra 36 Cat Linh is likely to attract businesses in medical equipment and technology, manufacturing, energy, finance, and foreign investment,” Ms Minh explained.
Additionally, Ms Minh asserts that “Grand Terra is a key project from Thanh Hoa Construction Corporation. The project brings the unique features of a modern project, meeting all the criteria of quality, sustainability, convenience and a focus on the health of tenants. Following the developer’s vision, we expect that the project will contribute to the development of impressive design and technological advancements in office map in Ha Noi, on par with key cities in the Asia Pacific region.”
