Standard Chartered Tower
Standard Chartered Tower Facts
Standard Chartered Tower Description
The new Standard Chartered Bank Tower (SCB) in Dubai was created as a result of a uniquely successful collaboration between the Bank and GRDI.
The process started with joint site selection, agreement of commercial targets. Then collaboration on design, specification, construction and commissioning.
At the outset an aggressive occupancy cost target was set that was 20% below the Bank’s then running cost. This target was exceeded. The market in Dubai has now moved in the Bank’s favor to a point where they occupy at over 30% below market.
The building the first instance of a Global Bank working with a developer to deliver a fully fitted building on a pre-let basis for a single rental figure.
The Agreement for Lease was based on GRDI delivering to all of SCB’s global workplace and engineering standards. This happened without exception and in many areas these standards were exceeded.
The Agreement was predicated on SCB having full participation and final right of approval over all design and specification.
The Agreement was based on SCB having zero capital spend or contribution with the exception of active equipment and artwork. This was delivered on.
The development was delivered and the first moves happened exactly on schedule. The building was made available to SCB three weeks early to allow a Board Meeting to be held on the executive floor.
The success of the development was due to a commitment to collaboration and trust. Clear alignment of interests was generated from start to end.
Standard Chartered have stated that this model of delivery will be the basis on which they will engage with developers in the future. They maintain that this model when executed properly will deliver a better product, at a lower occupation cost and in a shorter timeframe.