Bangkok Office Market Report Q4 2010 Year End

8/7/2019 Bangkok Office Market Report Q4 2010 Year End

1/12

2009 - 2010

Supply

demand

rentalS

Occupancy

Bangkok oice MarketrePort

thailand

.os.o.

Bangkok Ofce Market

executive Summary

Lmd w supply m h m Q4 2010 bu Q1 2011 wll s ux supply

wh h shduld p Sh Squ. Hwv v h us h x h ys

lss h 2% supply wll b ddd h m d hs s lly hv vubl

upy lvls wd.

th ws mml l vy Q4 2010 h pll mpss d

lbl fl s h sll d mps m m l m pls.

oupy s md h sm s Q3 2010 lb wh vs by z. th ou cBD

d h ou cy es dd s ud 4% d 1% whls es , ou cy

nh d ou cy nh sd smll lls.

rl s sd smwh h cBD d nh Q4, lhuh ll sws m pud h ou cBD. ths ws lly b h sp s

2009. ids h ldlds sp dsus d vs m

l pl s.

ids m h Bd ivsm d vs h sv s hv

m u s 2010, p m ls rl op Hdqus. th

sv s s s by my bsvs s h w l s thld mvs 2015 d h

lblz d svs aSean. th l dly s dmd sp.

as Dmb 31s, dsbl mp h m hs m bu m h

dmss. Hwv hs bm pd d h cBD , splly

h rjps s, hs uld hv v mp v m s ls sxp. B s spl ls uld b uu d bu s lly uh dsups

s hs susly. th l y uld ls spll ubl mps p

d vll busss sm ms uus ul ls h l s sd.

year end 2010 | OFFICe

market indicatOrS


2/12

BangkOk OFFICe Market rePOrt | Q4 2010

COLLIERS INTERNATIONAL | P. 2

Office ZOning

th l l z ss B hs ld h xs

sf supply wd ls h y d

hw h m hs pvd h cBD hs vlvd v h ps 20ys. th l cBD ws ld h Slm d Suws ds,

hm h vb ld m d h d bussss. th

dvlpm md bulds h s, wh l

pl uld b mmdd hs d h cBD b

shp h s s Sh d.

Whl Suhumv d up as s pmly pvd s

m d sdl , l umb d a bulds

spu up h s d ls h ps w ys. i s hsdd s p h cBD. as w df h cBD, h

pupss lssf, s wh sf umb gd

a bulds ld. as suh h ld cBD s w sdd

h ou cBD s wll s Phbu d wh m d B s

ld. ov m hs suu uld vlv.


3/12

hiStOrical Supply



tOtal Supply added fOr each five year periOd

Su : clls il thld rsh

M h 70% xs bulds w ddd h m

h 1990s whh psd pd m wh h b

su muu xps. ths s s s ly w

p ddd h fv ys llw h s h as l

css (ac). ev wh h p up h sd hl h dd, ly

13% supply m m h fs dd h uy.

cumulative Supply in BangkOk


th B ldsp v dy s sul fv y bm du

h pd 1992 1999 whh dd du luhs m hl

s sul h ac. ev h ss pjs ud b

mpld ulm h 140,000 sq m emp tw 1999, whh

v dy s h ls buld h B. th

llw fv ys w llw pd h m s l

ly ud 186,000 sq m ws mpld. i ws ly h sd

hl h dd h wh supply pd up wh v u d

hl ms m supply b ddd h ls fv ys mpd h

fs fv.

n w supply m h m du Q1 Q3 2010. Hwv

Q4 2010 w buld ws mpld h ou cBD

wh l ud 5,600 sq m.


4/12COLLIERS INTERNATIONAL | P. 4

th h shws hw supply hs d s h s h ac. th

p up b 2004 d ulmd v 250,000 sq m ddl

supply 2008 h b wd fd h mddl h

dd. Hwv pll uy l wh h glbl l

css (gc) hs ld du w supply. o buld

ws pd 2010, h ou cBD . th l sp

hs s by ly 6,000 sq m ps vy mds s

lss h 0.1% u supply.

th cBD pss h bs sh buld m

B wh ud 35% l supply, llwd by nh

d ou cBD wh 19% d 15% spvly.



additiOnal Supply fOr each year

Supply By lOcatiOn, Q4 2010



5/12

future Supply By lOcatiOn



Sh Squ, shduld p Q1 2011, wll ps h ls

w h cBD s emp tw 1999. th

bulds shduld b mpld h nh

du h 2011 2013 pds. ovll xpd ddl w supply

v h x h ys wll ps lss h 2% s l

supply. ths pss vy ll ddl sp h m

bsb.


future Supply

Occupancy rate By lOcatiOn, Q4 2010


th ou cBD sll mmds h hhs upy Q4

2010, d h ou cy nh hs h lws upy s. th

nh upy dd h sd lws fu.

demand take up


6/12

th upy h cBD md slh mpvm m h

pvus qu wh ly 1% mv upwds q/q, lhuh hs s

lly b dvsly d by h dv Sh Squ, du Q1

2010. th nh upy ll 1% q/q d ou cy es by

ud 1%. th ou cBD sd by jus lss h 1% lhuh

hs p m h ap L wuld hv l hs

h.

Juy 2010 dd su mpy ss huh h

apl /My vs ld dwu, bu h pd ss

pd up d nvmb hs shw hhs umb ls w ys.

m fus lsd by h Dpm Busss Dvlpm h

umb mpy ss 2010 h whl thld s h

hhs 99 ys, whh pss psv sl h

buld m.


Su: Dpm Busss Dvlpm d clls il thld rsh

Occupancy rate in 3 lOcatiOnS, Q1 2009 Q4 2010 Occupancy rate in 3 lOcatiOnS, Q1 2009 Q4 2010

newly regiStered firmS during January 2009 - nOvemBer 2010



demand driverS



expOrtS frOm thailand On a mOnthly BaSiS

rental rate By ZOne

Su: B thld d clls il thld rsh

Su: clls il thld rsh

idusl wh s h m dv h pws h m s

lds h d d, fl, ll d su svs,

ms hs, supp . exps sd v m h gc

2009 wh sdy p wh dsp sbs m pll

dsubs. i ob xp vlu ll Spmb by jus lss h

8% d h md sbl h ls w mhs 2010.

Usupsly h cBD mmds h hhs l s du h

l d umb d a bulds. rs h es

dppd s h ou cy es whl ss w dd h

Ws d nh s. ths uld b xpld by

h h sf umb s ld ls bh h

BtS d Mrt whl ms s h ou cBD ld sm

ds m mss s ls d my lvly ld.


rental rate, Q4 2010



gd a bulds mmd hh ls h d B bulds. th

s ls sm ds bw B & c d s.


rental rate By grade Q4 2010


i Q4 2010, l s bulds h cBD mdm lss h sm wh mpd Q4 2009. ovll l s

hv md sbl, bu hs qu whl h nh hs

ll h ou cBD hs s slhly d hs w v hnh .


hiStOrical rental rate in three main lOcatiOnS, Q1 2009 Q4 2010




hiStOrical rental rate By grade

rental rate Of Office Building in BangkOk By diStance frOm BtS / mrt (metreS)



rl s d a bulds hv md sbl s 2007

whl d B bulds dd dp ppxmly 5 6%.

clls il thld hs d h sm ldlds hv

d m vubl ms d vs s m

upy du dul m ms, splly smll bussss

d hs hs lly dvsly d d c ls. th s

d c bulds s ls lly bm bl s m d

ls my b sly uvubl s, d ws uld

b sd sf vs h sm sh s h l

s d m mpvss.

os ld ls mss s ss mmd pmum

lhuh my w bulds h wuld h b usully m

xpsv . th shps d us d c bulds

wh ud 40% d b sd. Mss s ly xpls

p bulds ppl. ass xpsswys my b qully

v m mp s.




th av upy o Buld l h ap rl L

sd Q3 2010 whh s lly sul h p h

ls mss s l h . th ap L ws l pd

23 auus 2010 m h sss S rlwy thld w

cy L h ap L ss m h 42,000 psss p

dy d uu wh s s h uu. Bussss wh s

vl bd my fd l ls h l v

h ps.

rl s w sbl Q4 2010 bu sll lw h h l s

h sd qu by ppxmly 2% du h ps h cBD

d sm s Phhbu rd.



the average Occupancy rate Of Office Building On phetchaBuri and rama 9 rOad alOng the line

Of airpOrt rail link By Quarter.

the average rental rate Of Office BuildingS On phetchaBuri and rama 9 rOad alOng the line

Of airpOrt rail link By Quarter.

Office ZOning



a h d 2010, os@Svl, mxd us buld h ou

cBD , pvdd m h 5,600 sq m h m. ths pss

h ly supply h m 2010. Hwv, Q1 2011, Sh

Squ wll dd m h 70,000 sq m h cBD. ths wll

dmd, supply d l s h cBD d du s l pl, wd h dsu pvdd l sz uss h

w lshld s u hm l.

Hwv h B m l v h x w ys s lly

wss ly vy lmd mu w supply d wh up

v mds lvl hs s lly b psv upy s v

m.

th d thld s h my v, s s m s

s gDP d xps, d lmd hs b bs

h sv s suh s rl op Hdqus. as thld

mvs wd m d sv s wh aSean h

my s h h uy my mss u pl wdll

ppuy du p du sysm, lmd lu

slls, l mp d w bl vs Di h

svs s.

M h 87 % sp B w mpld b h

y 2000 d 14% v 20 ys ld, h my buld

ws sd bs ubshm. bulds ld h 20

ys h s m xsv v bms m pud

vlv sf hs h d/u wll d vf lv d d sysms. ths hs

hv mp s svs s du y. as

sul hs d mpvd m, suh mvs ld

upd d hh ls. Hwv h pl h xs

buld d l shuld b u d wll hd

mul-w bulds hv suh h d.

fOrecaSt



12/12

cOllierS internatiOnal thailand

management team

oice & inDUStriaL SerViceS

num rdsvph | S M

retaiL SerViceS

ashw Wh | S M

reSiDentiaL SaLeS & LeaSing

nuy Juhsvsdul | M

ProJect SaLeS & Marketing

Ws rjjuul | M

aDViSorY SerViceS

np thum | M

reaL eState ManageMent SerViceS

Bdd chyu | ass D

aDViSorY SerViceS | HoSPitaLitY

J M g | D

inVeStMent SerViceS

nu Suwul | S M

reSearcH

ay P | S M

Suh khp | M

VaLUation & aDViSorY SerViceS

nhls Bw | ass D

Phhsu Phmhu | M

PattaYa oice

M Bwl | Sls M

Sup Sjs | Busss Dvlpm M

COLLIerS InternatIOnaL thaILand:

Bo Ofc17/ Plh c,2 Suhumv rd, kly,B 10110 thld

tel +662 656 7000

fax +662 656 7111

email [email protected]

P Ofc519/4-5, Py Sd rd (opps cl svlPy Bh), npu, Blmu, chbu 20150

tel +6638 427 771fax +6638 427 772


reSearcher:

thlday PS M | rsh


reSearcher:

thldSuh khpM | rsh


480 s 61 us 6 s

th hd ls mmll s svs mpy h wld

th sd ms sdmml l s bdlblly

US$2 bll ul vu

ov 2 bll squ udmm

ov 15,000 pssls

ths p d h sh mls my b ud u wbs www.lls..h. Quss ld

m h shuld b dd h rsh Dpm h umb dd bv. ths dum hs

b ppd by clls il dvs d l m ly. clls il ms

us, pss ws y d, xpssd mpld, d h m lud, bu

lmd , ws , uy d lbly. ay sd py shuld ud h w

qus s h uy h m. clls il xluds uquvlly ll d mpld

ms, ds d ws s u hs dum d xluds ll lbly lss d dms s

h m. clls il s wldwd l dpdly wd d pd mps.

al suss.

Ud Ss: 135

cd: 39L am: 17

as Pf: 194

eMea: 95


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Bangkok Office Market Report Q4 2010 Year End