Client profile
Indochina Plaza Hanoi (IPH) is an exclusive development consisting of luxury residences and a 5-star office in Vietnam’s capital, offering one of Hanoi’s first luxury residences and commercial office spaces. Having a Gross Floor Area of 135,000 square metres, IPH comprises a 36 and 32 storey apartment tower, 11 storey office and five podium levels of luxury retail. Each provides unobstructed 360-degree views of Hanoi. Landscaped tropical sky gardens, swimming pools, sun decks and breezy terraces create an oasis of sophistication. Greenery and calm meet minimalist, modern design.
Given the economic downturn and falling construction costs, a flexible contract mechanism was required, which allowed the Client to take advantage of the benefit of falling prices, while also seeking to provide an equitable contractual arrangement for the contractor. In addition, the design initially only showed the general design intent and design criteria, with further development requirements on site in response to ground conditions. Furthermore, the Client wanted to promote a culture of partnership and cooperation with the contractor and Altus.
