Contact:
Charinya Youngprapakorn
Head of Marketing & Communications, Thailand
+66 2 119 1522
Bangkok – June 4, 2025 – Market conditions are not slowing down transactions from concluding across inner Bangkok. CBRE Thailand, the leading international property consultant, is delighted to announce the successful completion of its exclusive sell-side brokerage for the mixed-use Swissotel Bangkok Ratchada, a 407-key hotel, and Le Concorde Office Tower, comprising a gross floor area of approximately 51,000 square meters. The Ratchada area is attracting interest among investors, particularly with the MRT Orange Line expected to open in 2025.
Mr. Barnaby Swainson, Head of Capital Markets, CBRE Thailand, said, “In the last 12 months, we have seen a notable increase in transaction volumes in the investment sector, both for land plots and income-producing buildings, such as this mixed-use office and hotel asset. The average price per square meter for office buildings in inner Bangkok currently stands at around THB 80,000, although prices vary based on factors such as building grade, rental rates, occupancy, specifications and connectivity. This sale marks another successful transaction, following our prime land and office building sale in Sathorn last quarter. In some cases, we see the price gap between buyers and sellers narrowing, and well-positioned investors are seizing this opportunity to purchase assets and expand their market share. Now is the perfect time to invest in high-quality products.”
Acquiring the mixed-use asset, Asset World Corporation (AWC) has announced plans to invest a total THB 8.7 billion for the purchase and renovation of the overall property. This initiative is part of a wider trend, as hotel transaction volumes have surpassed the 10-year average, representing one of the highest levels in the past decade, including both freehold and leasehold sales, with the majority occurring in Bangkok.
Mr. Atakawee Choosang, Head of Hotels & Hospitality at CBRE Thailand, stated, “This transaction reflects strong demand for institutional-quality assets and demonstrates strong investor sentiment to reposition assets for further value extraction. The reconceptualization of the overall project will solidify this hotel as a leading option in Ratchada, an area of high potential and relatively limited branded supply, underpinned by robust Bangkok hotel market performance since the start of 2023. Through March, current occupancy rates for hotels are 75.5%, slightly below 2024 figures. The average daily rate currently sits at THB 4,397, reflecting a 2.5% increase from the previous year. Across our hospitality assets for sale right now, there is a similar ability to capture the financial upside that investors demand, supported by a broader market perspective.”
CBRE forecasts that transaction activity levels will remain high throughout the year, despite the local shock of an earthquake in March and some global headwinds facing the market. Prime, unique, and evolving locations around central Bangkok and transit nodes are expected to perform best and prove most resilient.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE established an office in Bangkok in 1988, followed by its Phuket office in 2004. CBRE serves a diverse range of clients with an integrated suite of services, including property sales and leasing; investment management; appraisal and valuation; strategic consulting and research; property management; facilities, transaction and project management. Please visit our website at www.cbre.co.th.
