With office space in Bangkok’s prime areas in high demand, Gaysorn Property hopes to take advantage of this by developing a new office building in the Ratchaprasong area. The project will be near its luxury Gaysorn shopping complex and the company will likely invest THB3 billion on the development.
Managing director Fafuen Temboonkiat told the newspaper that the Gaysorn Tower will stand 30-stories high and is expected to be completed during the middle of 2017. There will be a total space of 63,000 square meters.
The company will begin taking reservations for space shortly and Fafuen believes that 90 percent of the tower will be booked within the first year of the project launching. This would not come as much of a surprise as new office launches in Bangkok’s CBD areas have witnessed a record breaking amount of pre-bookings during the past 12 months. Some of the most popular launches include the FYI Center and the G Tower.
Nithipat Tongpun, head of office services and executive director of CBRE, explained to media that office space supply in Bangkok has risen by 22 percent per year on average during the past 15 years. Meanwhile demand has increased by 63 percent and at the moment very little new office supply is predicted to come onto the market.
The concept of Gaysorn Tower is “Work-Live-Play-Grow” and in addition to the office space there will be the Gaysorn Urban Resort and Gaysorn Urban Retreat. These will bring unique common areas and health and wellness elements to the development.
“The full range of practical business amenities, such as meeting spaces, seminar and function rooms, restaurants, and recreational facilities will be offered,” Fafuen said. “The facilities will help boost productivity for office workers, visitors and the Ratchaprasong community at large. We will further create a dynamic working environment using the latest modern office trends.”
