Bangkok to see over 1.3m sqm new office supply until 2026

A total of 616,700 sqm of new supply expected in 2024 alone.

According to data from Knight Frank, Bangkok's total supply of office space expanded in Q1 by 52,700 sq m, or by 0.9% QoQ, to 6.10 million sq m. Two new buildings were launched in Q1, including the Punn Tower on Rama 4 Road and JLK Tower, connected to BTS Nana. 

Since all new supply is classified as green buildings, the lettable area of green office space also increased by 3.8% QoQ to 1,446,000 sq m, now accounting for 24% of the total market. 

Future Supply

In Q1, a new office project was unveiled on Bangna-Trad Road. Knight Frank adds that the combined lettable area of all upcoming developments remains unchanged at 1.50 million sq m, which will account for 25% of the current office space supply. 

Within this upcoming supply, 60% is concentrated in the CBD, highlighting a significant focus on central areas. Over the next three years, the anticipated additional office space supply is projected to be 616,700 sq m in 2024, 365,000 sq m in 2025, and 373,000 sq m in 2026, respectively.