Singha Estate pinpoints the business center of northern Bangkok on a potential location on Vibhavadi Road, developing the “S Oasis” Grade A office project, ready to open for service this year.
It is becoming increasingly evident that the economic center of Bangkok is changing. as a result of the development of large projects and the communication network that expands in other areas Open the boundaries to have the potential to develop projects in various fields. both business and residential sectors especially around the new rail transportation hub Also known as Bang Sue Central Station. which can accommodate approximately 3 hundred thousand passengers per day, like a link between important economic areas in the future especially the Eastern Special Development Zone (EEC), which is expanding rapidly. Thus making the area connected to Vibhavadi Rangsit Road and around Lat Phrao Intersection It has become another important strategic location that has received a lot of attention.
Because it is an important trade and investment connection point of Bangkok. With the potential of the location to be upgraded as a gateway of multi-channel connectivity It is a diverse lifestyle district from communities that come from both government agencies. state enterprise jobs and the head office of a private company with facilities for living with complete facilities such as hospitals, educational institutions, restaurants, flea markets, department stores The important thing is to have a good quality of life. There is a beautiful natural environment from the green area of the park to 3 places, namely Wachirabenjathat Park. Queen Sirikit Park and Chatuchak Park Therefore, the need for office building space And condominiums in this area have been increasing steadily in line with CBRE Thailand data that has been surveyed. From the end of last year, Vibhavadi area, including the beginning of Phaholyothin Road and Lad Phrao Road. It has an office occupancy rate of 90%. The total office space in this area is approximately 908,000 square meters, of which 236,800 square meters are Grade A offices.
Mrs. Oranee Poolkwan Chief Executive Officer Retail and Commercial Business Development Department, Singha Estate Public Company Limited Said that Singha Estate saw the potential of Vibhavadi Rangsit area growing as the business center of North Bangkok. therefore invested in Sun Towers and develop the area around Soi Chae Phueng Expanding the Sun Plaza market area and food court Recently, the S Oasis project has been developed, worth 3,695 million baht, located in Soi Choei Phuang, Vibhavadi Rangsit Road, on an area of 6 rai, 3 ngan, 24 square wa. It is a Grade A office, the first building on Vibhavadi Rangsit Road, 35 floors high, consisting of 54,000 square meters of rental space. Retail 1,700 square meters, 870 car parking spaces with EV Charger and a parking building that can accommodate more than 1,500 cars, which is currently over 60% built and is expected to be completed by the end of 2021 for this SO OASIS project. The company has appointed CBRE as an agent for renting office space.
“S Oasis Project is considered the Company’s Best In Class quality project with the concept of Enriching Life, striving to create a good quality society. Follow the guidelines of Singha Estate to lead to the creation of Sustainable Value for the surrounding communities. Therefore, it is designed according to LEED standards, emphasizing on energy conservation. Promote efficiency and well-being with attention to design and select materials with low pollution standard construction Increase safety, efficiency, comfort at work and help reduce energy costs This is another way to save business costs,” said Oranee.
Mrs. Oranee also said about the highlight of the S Oasis project that it is a smart and eco-friendly building that responds to the work of New Working Culture by integrating the surrounding area of the building to create an environment bright Inspiring work in a relaxed atmosphere. conducive to maximum work The perfect combination of both indoor and outdoor working spaces. together with technology to reduce exposure in common areas for safety And good hygiene in the Next Normal era supports the work of the new generation with the flexibility to customize the use and facilities of the area according to their needs. And also increase the high speed internet connection. To enable mobility and create immediate collaboration anywhere and at any time.
Singha Estate currently manages the office space of Suntowers Building. On Vibhavadi Rangsit Road, more than 62,000 square meters, and when the S Oasis project is completed, the company will manage approximately 116,000 square meters of office space and build this area into the S District for a new quality society. In the future of northern Bangkok, Singha Estate also manages the Singha Complex office space on the corner of Asoke Petchaburi Road and S Metro Building in the heart of Phrom Phong.
As for the results of the Commercial Business Unit, the company was able to meet its targets amid the challenges during the COVID crisis in Q1 2021. Overall average occupancy rates have continued to rise since 2020. At 90%, the company is confident that this business still has high growth potential and can generate stable recurring income in the next 5 years from 2020. The company targets 250,000 square meters of rental space. m, which grew 80% while forecasted commercial real estate revenue growth of around 105%, and is a key strategy to build a strong financial position for the company in the future.
