At the end of Q2 2021, the supply of office space in Bangkok continued to increase steadily to 9.107 million sq.m. from the launch of three new office building project,namely Rasa Tower 2 Building, with the total NLA of 45,000 sq.m. CAS Center Rama 9 with the total NLA of 39,000 sq.m. which are located in the located on the Northern Fringe area and 66 Tower with the total NLA of 29,000 sq.m. located on Eastern Fringe area. However it was found that in Q2 2021, there was no office building launched into the market in the CBD area. Meanwhile, although there were new supply coming into the market with some buildings with high occupancy rate, the overall occupancy rates still remained stable due to some buildings having much lower rates than expected. The demand for office space mostly come from the e-commerce segment, co-working spaces, financial institutions and the relocations and expansion of the existing companies.
Colliers Thailand found that in Q2 2021, some tenants still wanted to renewthe lease, but at the same time, they wanted to reduce the size of the rental space. While tenants with larger use of the space in each office building had higher bargaining power in order to get better agreements from the office landlords. Full Report in Thai >> DOWNLOAD
