BANGKOK, Dec. 20, 2022 /PRNewswire/ -- One Bangkok, the largest holistically integrated district in the heart of Bangkok being developed by Frasers Property and TCC Assets, announced a strategic partnership with CBRE and JLL introduce the market to the first two office towers at the heart of Bangkok CBD. Offering a combined 200,000 sq. m. of lettable premium Grade A office space, Tower 4 and Tower 5 at One Bangkok will deliver a new approach to do business and set bold new standards for workplaces in Thailand.
Lim Hua Tiong, CEO of One Bangkok, said, "The future of the work is evolving, therefore Bangkok office buildings must tailor to the new trends. As a vertically integrated developer and asset manager with a proven track record of delivering the best office tenant experience in Bangkok, Frasers Property has a good understanding of what customers want to go beyond current market standards in terms of physical space, amenities, and services. By partnering with CBRE and JLL, global leaders in commercial real estate services with expansive networks, to act as strategic leasing partners, we will have an even deeper insight into the office asset class to deliver the ultimate workplace ecosystem of the future."
"The offices at One Bangkok emphasize health, well-being, sustainability, and quality in every detail. For these two office towers, we engaged world-renowned consultants to deliver beautifully designed,
high-performance environments with flexibility and efficiency for the best occupant experience. They are also the first office towers in Thailand underpinned by future-ready smart technology, targeting WiredScore and SmartScore certifications, and are designed for WELL Platinum certification, ensuring the physical and social environments will benefit the health, well-being, and performance of occupants. These attributes have already been recognized by the industry, with One Bangkok recently receiving the 'Best Office Development' award at the 17th PropertyGuru Thailand Property Awards 2022 ceremony."
"We're confident in bringing these two office towers to the market now. Our most recent office development, The PARQ, is approaching 95% occupancy, having launched at the outset of the pandemic - and with a very strong tenant profile. This demonstrates that demand for the best office product remains very robust and One Bangkok is primed to meet the demand for premium quality office space." added Lim Hua Tiong
As global leaders in commercial real estate, CBRE and JLL have unmatched data, market intelligence, and agenda-setting research capabilities to support One Bangkok. Roongrat Veeraparkkaroon, Managing Director of CBRE Thailand, the local unit of the world's largest commercial real estate services and investment firm, said, "We are convinced that One Bangkok is well-placed to meet the demand gap for modern office space."
Based on CBRE's experience of over 30 years in Bangkok's office market, we have found that the market has grown to put more importance on community, environment, and human wellness. From 2022 - 2025, Bangkok will see 1.17 million sq. m. of new office supply and many of these new projects will be registering for building certifications such as LEED and WELL. Buildings demonstrating that they can meet environmental and health standards will receive good responses from office occupiers, particularly those developed and managed by highly experienced teams with a proven track record of successful projects such as Frasers Property with FYI Center, Sathorn Square, Samyan Mitrtown, and The PARQ.
"In addition, many older buildings - those built before 2000 - are also increasingly registering for such certifications to remain competitive. This is partly due to the "flight to quality" demands from multinational corporations (MNCs) and agile workforces, who now expect a work environment that can combine a mix of flexible and efficient work, a healthy lifestyle, and a focus on well-being. These demands will shape how buildings are developed, determine what kind of amenities they come with, and put the industry on the road to sustainability and carbon neutrality. One Bangkok is a good example of new office developments that have thoughtfully incorporated these new features and will benefit from it." added Roongrat.
According to Michael Glancy, Country Head of JLL Thailand, a global professional services firm specializing in real estate, companies have been on a journey to reinvent the workplace for a number of years. Whilst this has been driven by technology and the need for more efficient, flexible, healthy, and sustainable spaces, the shift to hybrid work has become a marker of change in the workplace. It places greater emphasis on how companies can support employees' well-being and increase collaboration, a sense of belonging and productivity.
"There is a clear flight to sustainable quality buildings trend growing here in Bangkok and we expect this to continue for the foreseeable future. There are over four million sq. m. of occupiers who have been in the same office towers for over twelve years. Therefore, JLL anticipates leasing activity to continue to rise in the next two years as companies create their own version of the future of work to meet their employees' needs and attract them back to the office." said Glancy.
"One Bangkok has an array of offerings to meet occupiers evolving needs, which makes the project an attractive proposition. The specification of the office towers is top Grade A quality and is supported by limitless amenities and lifestyle services, connection to nature, inspiring art and culture, and seamless transit options - the epicentre of urban life." he added.
One Bangkok, located at the corner of Wireless and Rama 4 roads with direct linkages to the city's burgeoning mass transit systems, comprises workplaces of the future, a new retail loop, superlative residences, hotels with the finest five-star hospitality, a world-class live entertainment arena, the presence of art and culture, and vast, welcoming public realm that covers 50 rai of the 104-rai district. As a well-equipped smart city with sustainable infrastructure, One Bangkok aims to be the first project to be awarded LEED for Neighborhood Development Platinum certification in Thailand and WELL Building Standard to support human health and wellness.
Editor Note :
About One Bangkok
One Bangkok will be the largest integrated development in central business district and most comprehensive real estate project in Thailand, with an investment value of over THB120 billion, on the total land area of 104 rai, or 166,400 square meters. When fully completed, the project will include 5 premium Grade A office towers, 4 distinct retail precincts, 5 luxury and lifestyle hotels and 3 luxury residential towers operating under the core values of people-centric, sustainability and smart city living.
About Frasers Property Limited
About Frasers Property Limited Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group" or the "Group"), is a multinational investor-developer-manager of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$40.2 billion as at 30 September 2022.
Frasers Property's multinational businesses operate across five asset classes, namely, residential, retail, commercial & business parks, industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 20 countries and more than 70 cities across Asia, Australia, Europe, the Middle East and Africa.
Frasers Property is also the sponsor of two real estate investment trusts ("REITs") and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties, respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.
The Group is committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on its people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It is committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and is invested in promoting a progressive, collaborative and respectful culture.
About TCC Assets (Thailand) Company Limited
TCC Assets (Thailand) Company Limited (TCC Assets), established in 2013, is a fully integrated property development company, with a registered capital of ten billion baht. It is part of the TCC Group, one of the most well-known companies in Thailand. TCC Assets' investment model focuses on creating added value to assets through product and service development. TCC Assets, subsidiary company, and affiliated company focus on the development of residential real estate projects, office building and retail space, along with hotel business and services related to IT.
For more information on TCC Assets, please visit www.tccassets.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE established an office in Bangkok in 1988, followed by its Phuket office in 2004. CBRE serves a diverse range of clients with an integrated suite of services, including property sales and leasing; investment management; appraisal and valuation; strategic research and consulting property management; facilities, transaction and project management. Please visit our website at www.cbre.co.th.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.co.th.