Thailand warehouse supply up 8.9% to 6.3m sqm in H1 2024 | Real Estate Asia
, Thailand

Thailand warehouse supply up 8.9% to 6.3m sqm in H1 2024

The Bangkok Metropolitan Region accounted for the biggest market share.

 

According to a Knight Frank report, the total supply of ready-built warehouses in Thailand increased by 8.9% H-o-H, reaching 6.27 million sq m in H1 2024.

 

New supply contributed 9% of the total supply added during this period, driven by several projects across various locations, mainly in Chonburi, Samutprakarn, and Pathumthani, along with the expansion of existing developments.

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Here’s more from Knight Frank:

 

The Bangkok Metropolitan Region maintained the largest market share, increasing its supply by 9.9% from the previous half to reach 2.8 million sq m, accounting for 45% of the total supply. Most of the new supply was concentrated in Samutprakarn, which holds 41% of the total area’s share, solidifying its position as a key logistics hub. 

 

The Eastern Seaboard remained the second-largest sub-market reaching 2.4 million sq m, representing 38% of the ready-built warehouse stock. Chonburi continued to lead in the EEC with a 26% share, followed by Chachoengsao at 9% and Rayong at 3%. 

 

The Central region accounted for 16% of the total market share, with a net lettable area of just over 1 million sq m. The Central zone saw a moderate increase in supply at 5.7%H-o-H. Ayutthaya represented 11% of the Central’s share followed by Pathumthani at 4%. These figures reflect ongoing expansions, with no significant developments recorded in other areas.

 

 

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