AIA Thailand Appoints CBRE as Principal Agent for Office Developments in Bangkok

Real Estate Press Releases Friday December 7, 2012 14:31
Bangkok--7 Dec--CBRE

AIA Thailand announces the appointment of CBRE Thailand as the principal agent for leasing grade A office spaces in the AIA Capital Center and AIA Sathorn Tower, its first large-scale real estate projects in Thailand with a total of 92,500 square metre lettable area.

“We are very excited about the projects because they are our first ever real estate developments that feature office and retail components and located in Bangkok’s prime business areas, potentially setting a footstep for AIA to grow further and beyond our core business in life insurance”, disclosed Mr. Ron van Oijen, AIA Thailand’s CEO in a contract signing ceremony, adding that “given the significance of the projects to AIA Group and AIA Thailand, it gives us a great deal of confidence to enlist services from a highly experienced agent like CBRE that will help drive success to both of our commercial real estate developments”.

Located on Ratchadapisek Road and only 100 metres away from the Thailand Cultural Center MRT station, the AIA Capital Center will be a 35-storey office complex with a floor plate of 1,700-1,800 square metres, offering 54,000 square metres of premium grade A office space for rent. In addition, there will be almost 5,000 square metres of retail space available to rent. “This iconic office development will be the first grade A office development in Bangkok’s northern corridor and it will use cutting-edge green designs to ensure a sustainable future and optimum efficiency in terms of energy and space usage. The building has attained LEED Gold Precertification from USGBC in the United States,” stated Mr. Nithipat Tongpun, Executive Director and Head of Office Services at CBRE Thailand.

AIA Sathorn Tower will be a 28-storey grade A office development situated on South Sathorn Road, at the corner of St. Louis Soi 3, and will offer 38,500 square metres of office space for rent with a slightly larger floor plate of approximately 1,500 square metres. Designed with the same cutting-edge green concept, this building also aims to obtain a LEED Gold certificate.

According to Mr. Nithipat, “both developments will feature column-free designs and the highest ceilings in the Bangkok office market, at 3 metres. This unique ceiling height is perfect for tenants requiring raised floors. I think this is a perfect time to launch both the AIA Capital Center and AIA Sathorn Tower as the Bangkok office market is now tightening, with very limited supply, especially of grade A space. Moreover, I believe that the AIA Capital Center will open up a new market for grade A office space outside Bangkok’s central business district (CBD).”

Pictured: Mr. Ron van Oijen (3rd from left), Chief Executive Officer of AIA Thailand, presents the appointment contract to Mr. David Simister (3rd from right), Chairman of CBRE Thailand, the principal agent for the AIA Capital Center and AIA Sathorn Tower, alongside Mr. Anucha Laokwansatit (2nd from left), AIA Thailand’s General Manager and Chief Investment Executive and executives from CBRE at AIA Towers on Surawongse Road.

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