Real Estate

Strong Demand for Office Space in Bangkok New Projects

According to JLL’s Thailand Property Intelligence Centre, the Bangkok office market has enjoyed a single-digit average vacancy rate for the second consecutive year in 2015 and is currently standing at 9%. Prime office buildings enjoy lower vacancies, averaging 7%.

Published

5 years ago

March 31, 2016

Daniel Lorenzzo

New office development projects in Bangkok slated to open later this year are experiencing strong pre-commitment levels, continuing a trend that began in 2013.

Prime office buildings enjoy lower vacancies, averaging 7%

Healthy demand for space in new projects is being driven by large domestic and multi-national firms seeking to expand their office footprint, but being faced with limited options in existing buildings as vacancy rates in existing prime office buildings are near all-time lows, according to JLL, a professional services firm specializing in real estate.

One prime example is G Tower on Rama IX Road, the latest addition to The Grand Rama 9 New CBD project, an iconic mixed-use development by Grand Canal Land PCL.

Planned for completion in the third quarter this year, more than 65% of the office space in G Tower has already been pre-leased.

Krungthai-AXA Life Insurance PCL is G Tower’s first major anchor tenant and will occupy nearly 15,000 sqm when the project completes later this year.

Secured by JLL, Krungthai-AXA Life Insurance’s relocation represents the largest office leasing transaction recorded in Bangkok in 2015. With several other major occupiers presently finalizing negotiations, G Tower should be nearly 100% pre-leased on opening.

Source: Strong Demand for Office Space in New Projects

Corporate

Covid-19 puts flexible space markets under strain

In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.

Published

1 day ago

January 26, 2021

Daniel Lorenzzo

The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.

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Real Estate

How COVID-19 regulations are changing landlord-tenant dynamics

The negotiations are dependent on the circumstances of each landlord and tenant, with landlords attempting to strike a balance between maintaining earnings and supporting tenants through the crisis period to sustain occupancy levels and income over the longer term.

Published

3 months ago

October 26, 2020

Daniel Lorenzzo

Hastily enacted regulations addressing a fast-unfolding pandemic have introduced a layer of complexity around leases between tenants and landlords.

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Real Estate

Why 5G is racing ahead in Asia

Hong Kong, Seoul, Sydney, Taipei, Manila, Tokyo and Shenzhen have already introduced 5G networks. In May, Bangkok became the first city in Southeast Asia to roll out a 5G network, while Singapore in August started a six-month trial.

Published

4 months ago

October 12, 2020

Daniel Lorenzzo

Governments and businesses are keen to take advantage of 5G technology like High-speed connectivity, reduced latency and greater reliability

Asia Pacific is leading the charge for the next generation of mobile connectivity. Major cities across the region are rolling out 5G networks this year, which are poised to reshape connectivity and big data with blazing-fast download speeds.

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