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 doing business and set bold new standards for workplaces in Thailand.
Lim Hua Tiong, CEO, 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 emphasise 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.
Lim added, "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."
Roongrat Veeraparkkaroon, Managing Director, CBRE Thailand, said, "We are convinced that One Bangkok is well-placed to meet the demand gap for modern office space. 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.
Roongate added, "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."
According to Michael Glancy, Country Head, 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.
Glancy noted, "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." He added, "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 epicenter of urban life."
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.
Ian Thomas
