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AIA Braves the Real Estate Market with 4-billion “AIA Sathorn Tower”

By on Jul 16, 2015 in Office, Property News

To become Bangkok CBD’s iconic premium business office on Sathorn Road

AIA-STT_pr02_16julAIA Thailand ventures on with the success in real estate development with the second project, AIA Sathorn Tower, premium office space for rent on Sathorn Road in the heart of Bangkok CBD. The premise is expected to reflect the image of an “ideal real business office” that offers premium structure, modern design architecture and ample facilities that are sure to attract foreign investors after AEC commencement.

Mr. Pokpong Yindeepol, Director of Real Estate, AIA Thailand, reveals that after the success of AIA’s real estate debut project, AIA Capital Center on Ratchadapisek Road, winner of Best Commercial Development at Thailand Property Awards 2014 and Southeast Asia Property Awards 2014, the firm continues on with AIA Sathorn Tower, premium office space for rent on Sathorn Road with 4 billion Bath investment.

“We have more confidence and obviously greater expertise in real estate development which we can apply to AIA Sathorn Tower, our second project developed under the idea of “Designed for Success, Built for Tomorrow”. This is an office space built to cater to all business units that are on the rise to become successful based on excellent facilities and comfort, as well as environmental friendliness and care towards the surrounding communities.”

AIA Sathorn Tower is a premium office space on Sathorn Road that rises to 29 floors. Located on the corner of Soi Saint Louis 3 on South Sathorn Road, the premise totals 38,000 square meters in rental space with 1,600 square meters on each floor. The tower is located on Bangkok’s prime CBD location with easy and convenient access to express way, BRT, BTS and MRT, complete with smart floor plan for maximum use as well as luxurious, modern design.

AIA-STT_pr01_16julAIA Sathorn Tower is equipped with genius features, guaranteed at Gold level according to LEED standard (The Leadership in Energy and Environmental Design), to project that image of an ideal real business office. Designed with “5S” in mind, i.e. Space, Saving Energy, Safety, Smart, Speed, in every detail throughout the project, the tower offers 3-meters high ceiling with no obstructive pillars to maximize the use of space. Energy saving LED lights are used both in interior and exterior spaces while three layers of Low-Emission Glass are installed throughout the whole façade to minimize energy use.

Security enhancement includes digitally controlled entry and lift, emergency power generator, 24-hour heat extractor and flood prevention system. 9-meters high ceiling at the lobby and simple yet elegant décor are designed to make good impression since the first step into the tower.

aia-sathorn-tower_16jul“We see the lack of premium office space for rent in Thailand, and that’s why we decided to enter this market segment. Thought the construction cost is 10% higher than general office building, we believe it is worth it to raise the standard of office space in Thailand, as seen from AIA Sathorn Tower that is designed with “5S” features. We use innovative engineering and advanced technology to construct the building, and designed the building in timeless style with energy-saving features. We believe that these features would fulfill the need of rising businesses and cater to the approaching AEC market.”

The market search of rental office spaces in Bangkok CBD and surrounding areas by a leading real estate agency* reveals there are 8.35 million square meters of office space in CBD during the first sector of 2015, and another half outside CBD. There are 24 buildings in CBD, totaling 1.2 million square meters. The research also shows that the demand for office space during the second half of 2015 will likely to grow gradually and most tenants more of expanding businesses than new businesses, yielding in the lowest occupancy rate in 20 years at less than 10%. It is found that the business growth results from internal expansion with AEC as a boost.

*Reference: CB Richard Ellis (Thailand), Real Estate Consultant Agency

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