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The Knowledge Report | 4th Quarter | 2008 | Bangkok Office MarketOutlook:The twin effects of the global economic recession and political instability inThailand will make the overall office market slow down in 2009. The top endof office market will be one of the first sectors to rebound. Office landlordsare planning to forgo upwards-only rent renewal clauses this year to help theircustomers to maintain their businesses. While the cost of relocation will determany tenants from moving out of existing premises, many tenants can beexpected to push for lower rentals at renewal, while new projects are alreadyoffering substantial discounts to secure major tenants and ensure occupancy ratesthrough what could be a prolonged downturn. Overall, we would expect rents todecline by at least 5% in 2009.293 offices in 61 countrieson 6 continentsUSA 99Canada 19Latin America 18Asia Pacific 62EMEA 95US$ 2 billion in annual revenue868 million square feet undermanagement11,048 ProfessionalsApart from substantial new Government-owned space coming onto the market,private sector landlords are adding relatively little space. As a result, even ifnet absorption remains static in 2009, overall occupancy rates are unlikely to begreatly affected this year.Contact informationTHAILAND:Patima JeerapaetManaging DirectorRisinee SarikaputraDirector | ResearchColliers International17/F Ploenchit CenterKlongtoeyBangkok 10110Tel: 662 656 7000Fax: 662 656 7111This report and other research materials may be foundon our website at www.colliers.co.th Questions relatedto information herein should be directed to the ResearchDepartment at the number indicated above. This documenthas been prepared by Colliers International for advertisingand general information only. Colliers International makesno guarantees, representations or warranties of any kind,expressed or implied, regarding the information including,but not limited to, warranties of content, accuracy andreliability. Any interested party should undertake their owninquiries as to the accuracy of the information. ColliersInternational excludes unequivocally all inferred or impliedterms, conditions and warranties arising out of this documentand excludes all liability for loss and damages arising therefrom. Colliers International is a worldwide affiliation ofindependently owned and operated companies.www.colliers.co.thColliers International 3
www.colliers.co.thThis report and other research materials may be found on our website at www.colliers.co.th Questions related toinformation herein should be directed to the Research Department at the number indicated above. This documenthas been prepared by Colliers International for advertising and general information only. Colliers International makesno guarantees, representations or warranties of any kind, expressed or implied, regarding the information including,but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their owninquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or impliedterms, conditions and warranties arising out of this document and excludes all liability for loss and damages arisingthere from. Colliers International is a worldwide affiliation of independently owned and operated companies.
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Market Research - Colliers

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