As more and more Multinational corporations (MNCs), Embassies and Non-Government Organisations (NGOs) either enter the country or look to find more suitable office space in Yangon and other parts of Myanmar, they bring with them specific and oftentimes non-negotiable, requirements.

In many instances, these requirements are part of the tenant’s global policy that has been drawn up in the head offices of these organisations on the assumption that their specific requirements are readily available in buildings throughout the globe. Unfortunately, this is not always the case.

From a leasing perspective Slade Property Services (SPS) is finding that these requirements limit the number of options available to tenants in the market and developers should consider improving their properties to accommodate the specific requirements below:

1. Safety features that are fast becoming a prerequisite/mandatory

• Building compliance with an international safety standard
• Duel fire escapes
• Pressurized fire escapes
• A sprinkler system
• Smoke detectors
• Incident monitoring room
• Regular fire drills and an evacuation plan
• Fire rated doors and door frames

2. Security Features required and/or desired

• A designated team of well trained and young security guards operating 24/7
• Vehicle explosive checks when entering the car park
• Computerized monitoring of all cars entering and leaving the car parking areas
• Extensive car park surveillance, security guards and CCTV located throughout the building
• Restricted lift access
• Sign-in reception with access pass for lift access
• X-Ray machines at the building main entrance
• Shatterproof glass in certain areas
• Bollards placed in certain areas restricting vehicle circulation or risk of vehicle-related accident

3. Accessibility

• Close proximity to executive residences
• Close proximity to customers
• Completion of independent traffic audits to verify claims of distances and travel times

4. Ambience 

• Good natural light
• Minimum ceiling heights of 2.8 metres  
• Proximity to shopping malls for lunch and other retail amenities
• 24/7 backup generators 

5. Property Management

• Property management in Yangon and Myanmar has now become an important factor
• How a building is run, repaired and maintained effects staff performance and the overall well-being of the organization
• Tenants are wanting to know who manages the buildings they are considering in order to determine how efficiently the building is run.

SPS is well versed in the specific requirements of these types of tenants having leased office space in Yangon to the Australian Embassy at Vantage Tower and to a significant number of MNCs, embassies and NGOs over the past 5 years. SPS is pleased to announce that The Kantharyar Centre, of which they are the lead agents, recently underwent a vigorous Safety and Security Audit and passed.

For more information about preparing office space for new tenants, email Fred Hassim of Slade Property Services via the contact details listed below. 

This article was previously published on Mingalar Real Estate Conversation

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