Cushman & Wakefield provided strategy to KPMG


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The Challenge

C&W was appointed to advise KPMG and prepare a workplace strategy to accommodate KPMG as they expected significant headcount growth in long term.

 


The Solution

KPMG Vietnam has been established in Vietnam in 1994 & is one of leading auditing companies (Big Four). They occupied approx. 1,450sqm over 02 floors in Pacific Place since the beginning of this office building.
In late of 2010, given the expansion requirement to a brand-new Grade A building, KPMG considered relocating to an alternative building ideally based in 1 floor plate within the new CBD in order to enable cost savings and improve the effectiveness of KPMG’s management.
C&W has dominated other agents in pitching and follow-up with both KPMG and the landlords. C&W then focused on advising & consulting KPMG to the most potential option, Keangnam Landmark Tower. This building is located in an emerging & blooming area known as the new Financial Centre of Hanoi (new CBD).
Under the pitching process, C&W met a difficulty that KPMG’s lease agreement only expires in Pacific Place at the end of May 2013. Therefore, the early started contract in a new building would double their rental costs.
To make this deal happen, C&W must do everything in power & capability to neutralize the cost.

 


The Results

Net saving of approx. US $ 3 mil over the 10 years lease term.
KPMG is the first big anchor tenant committed to Keangnam Landmark Tower and will be located in the highest office space which is the only 46th office floor within Hanoi Capital.