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.
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.