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Saigon m&c an overview hung t.nguyen
 

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    Saigon m&c an overview hung t.nguyen Saigon m&c an overview hung t.nguyen Document Transcript

    • VIETNAMESE GERMAN UNIVERSITYURBAN DEVELOPMENT PLANNINGSAIGON M&C TOWER:AN OVERVIEW ASSESSMENTAdvisor: Prof.Dr.Karl KlugelHung T.Nguyen
    • Table of ContentsAbbreviation ................................................................................................................................................. 31. INTRODUCTION ..................................................................................................................................... 42. SAIGON M&C TOWER – AN OVERVIEW ................................................................................................ 63. SAIGON M&C TOWER: MULTI FACTOR ASSESSMENT........................................................................... 8 3.2 Locational attributes ........................................................................................................................... 9 3.2 Economic attributes .......................................................................................................................... 10 3.3 Physic attributes................................................................................................................................ 10 3.4 Environmental attributes .................................................................................................................. 114. CONCLUSION ....................................................................................................................................... 135. BIBLIOGRAPHY .................................................................................................................................... 14 Page 2Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • AbbreviationHCMC – Ho Chi Minh CitySGMCT - Saigon M&C TowerEPC - Engineering-Procurement-Construction Page 3Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • 1. INTRODUCTION Nowadays, tall buildings play an important part in the urban economy as well as many aspectsof urban development. With recognition as crucial motivation, tall building is the land of economy,financial, urban transport, investment opportunities and technological advances. Whether thecorrection derived from perception that were being an urban infrastructure or facility to serve theeconomic development, high rise buildings are a main element, an important factor contributing directlyin the national development. And, the production of high-rise building is the inevitable product of socialdevelopment. The tall building’s influences vary from the socio – economic to environmental sector. Inbusiness, it can make more profit from the land owner and available to the higher accumulation of floorspace from the function, for instance. On the contrary, tall building relates with surroundingenvironment of urban design has become a serious problem coupling with the traffic problem whereasurban density problem could be solved with based on the city model dominated in development of tallbuildings. Ho Chi Minh City (HCMC) is the busiest and most dynamic metropolis in Viet Nam and tallbuildings have been contributing to the city development through many aspects. Alike any other cities,an office rental market in HCMC is described with increasing figures per annum and this is leading to, asa consequence, an effervescent market with plentiful suppliers to meet the rising demand. In the heartof Ho Chi Minh City’s commercial hub, Saigon M&C Tower presents 40 storey of grade “A” mix-useddevelopment, setting up new standards of living and working in Vietnam’s most energetic city. Locatedon a dramatic site along Ton Duc Thang Street, the tower enjoys extensive views over Saigon River onone side and picturesque city views on the other side. Page 4Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • According to CBRE Report1, Saigon M&C Tower was belonged to a group of thirty threedeveloping buildings (CBRE, April 2011, p.12) in district 1, HCMC. Whether this mixed-function buildingsatisfies the investors’ expectations, this high-rise building is connecting with city development by itseffectiveness to socio-economic respects as well as surrounding environment. Which criteria aresuitable to put them into the analysis of the building influences? Socio-economic aspects, domesticoffice rental market or macroeconomic vision or in sustainable development are sides should beconsidered.1 Vietnam Real Estate Update and Market Overview, 4 April 2011, CB RICHARD ELLIS – CBRE. Page 5Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • 2. SAIGON M&C TOWER – AN OVERVIEW The term of a “world city” is more and more becoming popular in developed property market.From our observation, we can find that the world is undergoing a major force, as being the first time inhuman history the majority of people now is citizen, who live in urban areas. Cities, like the mostattractive destinations, is the best choice of people to meet ones demands, the very basic needs as wellas higher level e.g. education and employment etc. Being quite sufficient infrastructure, HCMC was beenconsidering as a good environment of people’s settlement. Furthermore, HCMC in the long run will jointhe “world city” system and there is no better strategy than moving faster. Power shortages, CO2 emissions and traffic jams being the issues must be resolved. For thisreason, a smart and connected building is a factor which drives the world toward a sustainabledevelopment, with balance of social, economic and environmental resources. Located At 34A Ton Duc Thang St., Dist.1, Ho Chi Minh City – Vietnam, Saigon M&C Tower(SGMCT), an expectation as a city landmark, will create a strong impression in the downtown of Ho ChiMinh City, with expected delivery in the second half of 2011.The estimated investment capital wasaround $256 mil, the investor - Saigon M&C Real Estate Joint Stock Company (Joint Venture betweenSaigon tourist Holding Company, M&C joint Stock Company, DongA Commercial Joint Stock Bank, andDong A Bank Securities Company) – expected to make a great advance by applying new technology inconstruction process as well as building equipments, the latest technology could be meet all therequirement. Main contractor is Bouygues Batiment International (BBI) which has gained its fame byconstructing most luxurious and complex works such as the tallest First Tower in France, Sydney Olympicstadium in Australia and Kuala Lumpur Grand station in Malaysia, etc. By giving the expectations to one Page 6Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • 2of the biggest and most reputable Engineering-Procurement-Construction (EPC) contractors in theworld, the investor demonstrated the will to create a new landmark in the center of HCMC. According to the designing consultant, the building architectural design is for harmony, insurrounding area and building landscape. The building will be a new city landmark, in creating a newimpression at the connected point among Ham Nghi, Ton Duc Thang and East – West Boulevard, beingongoing construction and finishing in the end of this year. Being altogether with other surroundingbuildings, SGMCT will make more diversity in term of contemporary high-rise buildings and boost theurbanization’s pace in HCMC. This building could strengthen the HCMC real estate market, creating anew source to supply to the residential as well as office rental market which is being shorteningsuppliers. Furthermore, the investment will boost the city socio – economic development, throughcontributing to local government budget as well as changing the city skyline.2 EPC stands for engineering – procurement – construction that is common type of contract requires maincontractor will design installation, procure the required materials and construct it. Main contractor can use itselflabor force or cooperate with sub-contractors. This type of contract often is used by the investors who are nothaving capacity to finish their projects. Page 7Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • 3. SAIGON M&C TOWER: MULTI FACTOR ASSESSMENT Strongly urbanized process has turn HCMC into a promised zone not only local propertyinvestors but also international developers. With a sizeable population, HCMC remains an attractivedestination for long-term investment. There are more and more high-rise buildings developed in thisbiggest and most attractive city to serve the increasing demand for office and retail spaces andapartment buildings. It raises a further question: more and more buildings developed, are there any impacts derivingfrom these high-rise buildings and is it worth to develop? No matter how the benefits are, thedevelopment of high-rise building going on fastly in HCMC has its own threats. Which criteria should beput into the progress is a matter, with involvement related to many aspects. There is a need to considerthese standards to figure out a whole picture in the currently progress of tall building development. A forty-level and five basements high-rise building currently under construction in HCMC will beinaugurated this second half year of 2011 as the city’s iconic building, providing more office space in theSouthern economic hub. That high rise building now contributing to city development is hard to denyand tall building rise as a city development is obvious. It can be said that tall building change not onlyurban skyline but also the potential economic benefits, with being the most investment attractiveness.Nevertheless, sustainability advocates raised a further question which standard category of SGMCT andwhat design-advanced points of this building in compared with others. A rise of tall buildings has been known like a symbol of development, affects to socio –economic as well as environment. In arriving at the category classification, three main concerns havebeen identified namely locational and economic and physical attributes. To make identification aboutSGMCT impacts we need to understand the aspects that can contribute to those and these fall intocriteria which are discussed below. Page 8Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • 3.2 Locational attributes With the first class design, SGMCT meets most difficult requirement of class “A” ratings by beingan excellent location. Buildings with an excellent location generally are either in the city centre or CBD.Here we agree that excellent location means the city centre, and specifically for SGMCT we include alsothe main boulevards Ton Duc Thang as well as Ham Nghi. Similarly, quietness of location and distance toservice points are the characteristics contributing to client’s attractiveness. Located in HCMC centre, this building benefits by quite complete infrastructure system e.g.short distance to local public transportation, long-distance public transportation, city centre, bank, postoffice etc., and being attractive to the most creditworthy and prestigious tenants on the market fromthe easy access to building characteristics. Furthermore, good location is the most important factorbeing the most effective source to attract the investors. As the matter of fact, the building stands at thecrossroad in which three main roads intersecting (Ham Nghi, Ton Duc Thang and Ben Chuong Duongstreets), with panorama orienting directly to Sai Gon river. Transportation accessibility is always an important factor that should be the first considerationwith the customers. The unique location, in the HCMC center, brings the building most conveniences interms of public facilities. Shuttle bus stations, ferry terminal, three kilometers away from the trainstation or one kilometer reaching to long-distance public transportation make the SGMCT being one ofthe most successful office building that transportation accessibility is an advantage. As if that were not enough, parking space ability is the crucial problem that investor must dealwith to meet the increasing demand from the clients. Actually, parking lots are always the hard issuesthat not only SGMCT investors but also all the office building owners must face in this area. Being six-storey commercial service floors, one hundred and eighty high-end apartments and thirty floors ofoffices, SGMCT will be the latest skyscraper to the city’s skyline embraces 5 underground basements of Page 9Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • parking spaces. Parking has been solved with capacity of over 450 cars, 950 motorbikes and 8wheelchairs within five basements. In detail, the first basement has enough capacity to serve motorcycleparking with 960 nos and the rest four basements are sufficient in car parking space with about 120 nos(plus 3 nos for handicapped car park lot) for each basement.3.2 Economic attributes Generally, economic attributes reveal the prospect of rental and Capital growth. Although underconstruction, new grade “A” spaces in 2012 – 13 of SGMCT and other building in CBD is expected to seenearly 137,000 sqm (Jones Lang LaSalle). Significant projects are due to completion in 2012, 13 includeSGTMC distributing 49,000 sqm of rental office square.3.3 Physic attributes On a scale of 6,672 square meters near the Thu Ngu flagpole on Ton Duc Thang Street, however,building’s construction density is a noticeable aspect, with 3,062 square meters (46%) using forconstruction work. After finishing, SGTMC will be the second tallest building in HCMC (the tallestbuilding at present is Bitexco Financial Tower with 262.5 meter height), with the most modernequipments as well as building materials. Thus, physic attributes should be considered like an importantcriterion. The parameters are: thermal comfort, air quality, office noise control, spatial comfort, privacy,lighting, building noise control, overall satisfaction. This class “A” office building is designed basing on some compulsory characteristics in order tomatch of demand (user requirements). These patterns will focus on user satisfaction and tenantretention. Factors for tenant retention include adding amenities e.g. flexibility, durability, daylight, viewsof nature and good indoor quality. Page 10Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • User satisfaction is the most care during design process to meet the strict requirements e.g. 24-hours security and access control, high-speed elevators with waiting time max up to 30 seconds and atleast 2 lifts with a capacity of minimum for 6 people, HVAC system to provide cooling, heating andhumidity control of the air and control of micro climate in the office according to the EU HVACstandards, dual power supply with automatic switch and building management system, modern windowpanels and high – quality window frames as well as sun-protection glass, energy efficiency. Furthermore,the luxury equipments boost the building’s value e.g. luxury meeting rooms and a large impressivelobby, food and rest areas for staff, restaurant – cafeteria and fitness center.3.4 Environmental attributes Environmental approach is always the big issue in the age of modernization and globalization.Friendly to environment is necessary condition to any projects when the client’s awareness aboutenvironment protection being high. It will attract more customers who realize that energy saving is oneof the compulsory characteristic of the building. Actually, energy efficiency is a co-benefit issue in theage of energy crisis and SGTMC performs this approach perfectly. Green construction or sustainable building refers to using process that is resource – efficientthroughout a building’s life cycle. In term of efficiency of resource using, design and maintenance arethe two important issues in practicing of the building. The targets of these issues are to reduce theimpacts of build environment on occupant’s health and the nature environment, with the clearprinciples e.g. efficiently using energy, water and other resource; protecting user’s health and improvingemployee productivity; and reducing waste, pollution and environmental degradation. The concept of design of SGTMC project revealed a long term vision to adapt with sustainablebuilding standard. As a consequence, the building included measures to reduce energy consumption.The main theme of architectural design has been shown the solutions oriented to environmental Page 11Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • protection. In June 2011, the agreement between Cisco and M&C corporation was announced forapplying Smart+Connected Communities, with the first implementation of Ciscos Smart+ConnectedCommunities solutions is expected to be at M&Cs flagship project, Saigon M&C Tower which, oncecompleted, will be the most technologically advanced building in Vietnam. These applications will becompleted in 2011 e.g. Smart methods in office and house management with the most high-technologyhigh speed ADSL systems; Telephone and data management system MATV; house automaticmanagement via Internet; power use and water supply automatic counting system etc,. Ciscos Smart+Connected Communities solutions have known as an the technology using thenetwork as the platform to transform physical activities of communities to connected communitiesbased on networked information to enable economic, social and environmental sustainability. The keyadvantage of this technology is overall sustainability, by lowering environmental impact and creates agreener society. Page 12Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • 4. CONCLUSION From the viewpoint of above discussion, the value assessment of SGTMC necessarily involves amulti-stage process, with long-term procedure monitored precisely. At the beginning, four criteriaincluded several parameters have been revealed like a framework of assessment process. In this respect,the criteria were divided into locational, economic, physic and environmental attributes. Location was the most important factor affecting the clients’ attractiveness. This result is indeedquite intuitive that location is often regarded as the most important factor affecting the value of thebuilding. On the other hand, in case of investors thought, location is less important than economics andon the way maximizing interest, the owners smartly function the building to orient to sufficient rate ofuse. In case of parking lot, five basements have enough capacity to bring to client comfortable feeling ofparking, instead of enduring the parking shortage when living in the CBD area. Economic attributes covered the prospect of rental and capital growth. When constructionprocess completed, 49,000 sqm of rental grade “A” office will be distributed to the city rental officemarket and could reduce the shortage of rental office supply, with possibility decreasing the rental cost. Physical and environmental attributes belong to internal criteria. These criteria focus on tenantsatisfaction and benefits. Meeting all the strict requirements and applying latest technology in greenconstruction theme, SGTMC illustrates all attractiveness to become the tenant’s best choice. The next step forward is, therefore, to follow up the performance of the building afterconstruction stage and starting the some first activities. This landmark building is expected the newsuccess of owners, and more important this iconic architecture will raise the model of oriented-environment protection design as a modern language of architectural engineering. Page 13Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • 5. BIBLIOGRAPHY Ngoc Hung Thai, Chief of Architectural Staff. ”Architecture Design Explanation: Saigon M&C Tower Project.” ATA Architects Co., Ltd. 2007. Ngoc Hung Thai, Chief of Architectural Staff. ”Saigon M&C Tower Project: Architectural drawing collection” ATA Architects Co., Ltd. 2007. Hande Unlu, Kotaoh Hirate, and Munakata Jun. “Oppressive Impacts of High Rise Office Buildings on Inhabitants through an Istanbul Case Study” (paper presented at the CTBUH 8th World Congress 2008). Peter de Jong and Hans Wamelink. “Building cost and eco-aspects of tall building” (paper presented at the CTBUH 8th World Congress 2008). E.Lau and K.S.YAM. A study of the Economic Value of High Rise Office Buildings. Hong Kong: Hong Kong SAR, China. Kindle Version. Jan Kunze, “The revival of high-rise living in the UK and issues of cost and revenue in relation to height.” Master Thesis, University College London, 15 September 2005. Marc Townsend. “Vietnam Real Estate Update and Market Overview – Indigestion in the property market again. (Paper presented at the Vietnam Real Estate - Update and Market Overview 2011 meeting, Vietnam, HCMC, April 4, 2011. Page 14Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen
    • Backgrounder on Cisco’s Smart+Connected Communication Initiative – Updated as March 8, 2011.6.http://newsroom.cisco.com/documents/10157/1142732/Cisco_Smart_Connected_Com munities_Media_Backgrounder.pdf Page 15Saigon M&C Tower: An Overview Assessment – Hung T. Nguyen