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

Lifestyle

Bangkok falls 19 places to 49th most expensive location worldwide

Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.

Published

2 hours ago

April 20, 2021

Olivier Languepin

The decline of Bangkok reflects the severe impact of the Covid-19 pandemic on the rental market in the tourism-reliant Thai economy, according to ECA’s latest survey.

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Property

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Published

2 months ago

February 22, 2021

Daniel Lorenzzo

A direct result of COVID-19 containment measures is that organisations are taking a real-time look at the effects of prolonged off-site work and its relation to productivity.

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Property

The time is ripe to embrace Industry 4.0

Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns

Published

2 months ago

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Daniel Lorenzzo

We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.

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