Market Research - Colliers

colliers international | THAILANDThe Knowledge ReportBANGKOK office MARKET | 4th Quarter | 2008BANGKOK OFFICE MARKET OVERVIEWTotal Current SupplyDuring 2008, approximately 275,717 square metres was addedto the Bangkok office stock, representing growth of 3.7% andbringing total supply of office space to approximately 7.71million square metres. The average rate of growth of new supplywas 2.35% per year from 2004 to 2008.The majority of office supply was in the Inner CBD area,representing about 38% of the total, followed by the NorthernCorridor, and Eastern Corridor, representing about 21%, and11%, respectively.Figure 1 : Supply of office space by location, Q4 2008Source : Colliers International Thailand ResearchFuture SupplyNew supply of office space in the pipeline and scheduled forcompletion from 2009 totals approximately 849,762 squaremetres, mostly concentrated in Government-owned projectsin the Northern Corridor: the 470,000 square metre newGovernment centre on Chaengwattana Road. As most of thisnew supply will be pre-committed by Government entities, newsupply being developed for open market rentals remains relativelylimited, at around 190,009 square metres.www.colliers.co.th