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%.

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