Selecting the right office locale is both an art and a technical skill.
An office space can improve a company’s image and create a professional business environment. It can also meet employees’ expectations of a pleasant workplace and optimize working efficiency, helping companies to retain top talent.
Therefore, choosing a high-quality office building has become crucial for Fortune 500 companies and those in new innovative industries.
Five elements are indispensable in gauging standards for the quality of an office building: The landmark effect, hardware facilities, environment, flexible lease and professional support services.
These are, therefore, requirements for Grade A offices in Wuxi, a city in East China near Shanghai. The Wuxi International Finance Square (IFS) excels in these elements. At 339 meters, it is the city’s tallest tower.
The building connects major cultural facilities in the area — Taihu Square, Wuxi Library and the Wuxi Museum — which makes it an ideal location for complementary resources.
Another successful element for Wuxi IFS is its “integration of the physical and the intangible”.
It offers tenants physical and auxiliary facilities, and provides “soft services” in terms of its leasing policy and operations. These services make the office spaces more than just an average business environment and establish a congruous partnership with the tenants.
According to a forecast on the 2017 China property market jointly released by five global property consultancy agencies, demand for office buildings in most Chinese cities will peak in the next three years.Vacancy rates in first-tier cities are set to keep rising, while those in some second-tier cities will hit new highs.
However, in Wuxi IFS, the leased area has increased by around 10,000 square meters this year, rising against the feeble market. The tower works to follow clients’ needs along with market trends.
Getting the setting right
The reason why people gather daily in a fixed office space lies in their need for collaboration and communication.The workplace is where white-collar workers spend eight hours a day, so it is crucial to get the setting right.
High-quality services create an ideal workplace and are key to attracting talent. In Wuxi IFS, they demonstrate the win-win relationship between the landlord and its tenants.
The Wharf (Holdings) Limited, developer of Wuxi IFS, has applied its principle of the Wharf Institute of Service Excellence, or WISE, as well as its prolific experience in office property management and operations, in the building.
In Wuxi IFS, each company has a designated service counter and officer to simplify the communication process between the tenants and the landlord.
Personalized service is one feature of Wuxi IFS that sets it apart from the competition. For instance, when the weather is bad, tenants can use their access cards to borrow umbrellas at the reception.
Compared to other Grade A buildings, Wuxi IFS also excels at encouraging its tenants to balance body and mind outside its office space.
The recently concluded 2017 International Tower Running Grand Prix has attracted participation from tenants like Ping An Puhui, a unit of Ping An Insurance Group, which has demonstrated its unique energy in the building.
In a market environment where competition in services continues to turn keener, Wuxi IFS ensures that its standards continue to reach new levels.
Services help the high reputation of the development spread through word-of-mouth. Several tenants who have been pleased about the operation and services have requested to expand their leases and have even referred other clients to Wuxi IFS.
The enthusiasm also highlights the potential of the Wuxi market.
Meanwhile, quality services and the physical spaces are also valuable to the tenants, who would not consider moving out merely based on price.
Tailor-made strategy to help excel business
An established developer understands how to utilize experience to offer a product and service that exceeds average standards, while assisting clients with the best leasing strategies.
“Wuxi IFS provides specific plans that work best for different clients. To facilitate the development of some fast-growing companies, we will strive to work out a plan that will meet their future need for expansion,” said Dave Siu, assistant director and general manager (office leasing) of Wharf China Estates Limited.
“We uphold the principle of a flexible strategy.
We will offer a reasonable and cost-effective rental plan to tackle different industries, scales and demands.
Also, after the tenants settle in, our colleagues will pay regular visits to the clients to keep up with their response and demand.”
“We hope to work together with our clients to create business value, and achieve win-win results,” Siu added.
Two years after its official launch, Wuxi IFS has successfully attracted a range of domestic and international corporations, including Ping An Puhui, MetLife, Phoenix Contact, SAIC General Motors, SMC Corporation and Greenland Holdings. The companies cover areas like insurance, trust, funds, manufacturing, real estate, law and many more.
As the Chinese economy goes through profound changes, the manufacturing industry of Wuxi is gradually stepping toward the medium-high end market.
A number of local manufacturers have chosen Wuxi IFS to set up office, which demonstrates a rising emphasis in branding among local companies. Wuxi IFS is thrilled by the changes andrelishes the opportunity to propel this transformation.
Looking to the future, Wuxi IFS will continue to uphold the attitude of equality, openness and flexibility, aiming to achieve long-term and stable cooperation with its tenants.