Bangkok to see nearly 500,000sqm of new office supply in 2024

It’s an increase from the projected 345,000sqm of new supply for 2023.

According to Knight Frank, Bangkok's total supply of office space in Q3 grew by 25,000 sq m or +0.4% Q-o-Q to 5.99 million sq m. Three new buildings were launched in Q3, including Quant S25 at the mouth of Sukhumvit 25 Road, P23 inside Sukhumvit 23 Road, and Sukhumvit Hills, located between Onnut and Bangchak BTS stations. 

Of the total office space, the total lettable area of green office buildings remained unchanged this quarter at 1,344,000 sq m, making up 22% of the total market.

Here’s more from Knight Frank:

In Q3, two new developments were unveiled in Upper Sukhumvit, within the central business district (CBD). These projects include One Origin Sukhumvit 79 and Project O, which is situated adjacent to Tesco Lotus Sukhumvit 50 and on the opposite side of the former. 

Looking into the future, the anticipated office space supply for the years 2023, 2024, and 2025 is projected to be 345,000 sq m, 480,000 sq m, and 302,000 sq m, respectively. The combined lettable area of these upcoming developments is forecasted to reach 1.62 million sq m, comprising 27% of the current office space supply. Within this upcoming supply, 62% is concentrated within the CBD.