Bangkok--20 Nov--CB Richard Ellis
Total Access Communication Public Company Limited, one of Thailand’s leading telecommunications providers better known as DTAC, have signed Thailand’s largest ever office lease at Chamchuri Square owned by Chulalongkorn University. The company signed a lease for 61,000 square metres of office space.
The building developed by Thailand’s prestigious Chulalongkorn University is situated on Rama IV Road with direct access to the Samyan MRT station. The development has a 90,000 square metre office building link to 22,300 square metre retail podium. There is also an apartment tower with 126 residential units.
“This is the largest office transaction in Bangkok’s history,” said Mr. Nithipat Tongpun, Director and Head of Office Services at CB Richard Ellis Thailand, the sole leasing agent for Chamchuri Square. “This letting is four times larger than any other office lease signed in Bangkok, this means that despite the global economic slowdown, vacancy rates for Bangkok’s grade A central business district office market will remain low.”
Mr. Prapaprot Puprasert, Senior Vice President of Total Access Communication PLC. said, “We selected Chamchuri Square because the building matched many of our key requirements, it has great access with a direct link to the MRT’s Samyan station. You can walk from the station into the basement of Chamchuri Square. The 3,200 square metre floor plate, one of the largest in Bangkok was also a key factor along with the reputation of Chulalongkorn University as a landlord. By signing this lease we are clearly demonstrating our commitment to Thailand.”
Assoc. Prof. Gp.Capt. Permyot Kosolbhand, M.D., Vice President of Chulalongkorn University said, “We are very pleased to welcome Total Access Communication as a tenant in Chamchuri Square. We think the advanced design of the development reflects the spirit of our university.”
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and an S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2007 revenue). With over 29,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). CB Richard Ellis is the only commercial real estate services company named one of the 50 “best in class” companies by BusinessWeek, and was also named one of the 100 fastest growing companies by Fortune.
CB Richard Ellis established an office in Bangkok in 1988, followed by Phuket office in 2004, and Samui and Pattaya offices in 2007. CB Richard Ellis (Thailand) Co., Ltd. has grown to be a leading real estate services provider, offering strategic advice and execution for sales and leasing for all types of property, property and facilities management, valuation and advisory, and research and consulting. For more information, visit the company's website at www.cbre.co.th.
For further information:
Ms. Ngamjai Jearrajarat
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