With a vision to make business ac tivities easier and less time cons uming, developers are attracted towards constructing corporate wards constructing corpora buildings that incorporate various offices under a single roof. Akin to malls and commercial complexes that offer one-stop shopping destination, corporate buildings segregate business areas.

Amol Chandra Pradhan, head of sales and marketing at Central Business Park (CBP), says, “Almost 70 per cent of offices are established in residential houses, and they lack houses, and they lack proper infrastructure essential for smooth running of the business.“ Stating that working environment plays vital role in productivity, he adds, “CBP is constructing nine storied air-conditioned office building for sale on freehold basis.“ Spread over five ropanis, the developers assure the building with 125,000 square ft of well designed office space has adequate parking areas run by hydraulic system and 24-hour power supply, among other facilities.

Reportedly, the building has capacity to accommodate 35 to 40 corporate offices. The office area can be bought from 1,000 square ft and above as per requirements. “It costs Rs 13,800 per square ft -worth the amenities that are of global standards. Moreover, our clients need not worry about power cuts, security, parking space, maintenance and other issues,“ Pradhan maintains, adding that the construction is LEED certified and has taken fire and earthquake safety measures.

Satish Neupane, director of Trade Tower Nepal (TTN), says, “As the valley is getting more congested, it is increasingly difficult to find good office space with ample parking area. In this situation, we are providing office space in the prime location with all facilities and features.” He further adds that good infrastructure gives good impression to customers, which helps to maintain reputation and image of the company.

According to him, 90 per cent of space in TTN has already been booked by banks, insurance companies, hydropower companies, staff brokers, stock market exchange, et cetera. With an average floor space of 25,000 sq ft on each floor, the building has been built on the land acquired from Nepal Food Corporation in 30 years’ lease contract.

Opining that lack of well furnished and equipped office space is one of the reasons for foreign investors not investing in the country, Neupane says, “We aim to fill this void by providing modern facilities and well furnished office space for corporate houses.” Round the clock CCTV and security system, high speed elevators and escalators, fire fighting system, emergency exits, telephone facilities(optical fibre) on demand, adequate parking, 24-hour treated water supply, power backup system, earthquake resistance structure and external finishing are features and facilities that the commercial complexes provide.

Explaining the cost effectiveness of housing an office in corporate building, Neupane says, “The overhead cost of the company is significantly reduced, as the building is already equipped with power backups and security systems, among other facilities.” Optimistic about the future of corporate buildings, he says, “Though the concept is relatively new in Nepal, we already have 90 per cent booking, a positive sign.” Nonetheless, lack of proper guidelines and monitoring of the buildings pose challenges.

Stating that there is no separate guideline for their construction, Narendra Ballav Panth, treasurer at Complex Developers Leasers Association (CDLA), says, “Currently developers follow decade old building codes for commercial constructions.

But the government should come up with a separate policy for such buildings to keep the quality in check.” Alleging that the government is only focused on collecting tax, Panth says, “The infrastructure and facili ties also need to be monitored regularly. This alone can motivate developers to abide by the set rules and secure the investment of the customers.“

According to CDLA, there are five corporate buildings under construction in Kathmandu. Panth says there is a high scope for such buildings to attract foreign investment and encourage systematic and sustainable urban development.

source:The Himalayan Times,30 June 2012