New supply continued to enter the market during Q4 2020, resulting in an increase to 9.063 million sq.m of total office space in Bangkok. The increase was from the launch of 3 office buildings with a total area of 27,119 sq.m. Colliers expects there to be approximately 478,290 sq.m of additional office space completed in 2021.
Companies continued to reassess their office needs. The vacant spaces in several notable office buildings increased as demand declined. Many tenants have requested to reduce space and some office building rents were decreased by 15%-30% in order to maintain tenants.
Colliers International Thailand predicts even more change throughout 2021. There will be more integration of work from inside and outside the office. As a result, the function of future office space will shift from the traditional to more flexible and collaborative areas to meet the corporate’s needs as well as social needs of employees. As offices shift towards a blended workplace, companies will plan to make the best use of office space. Full Report in Thai >> DOWNLOAD