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Co-working space – not just for start-ups

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PHOTO: HUBBA-TO co-working space in Bangkok

by Thanchanok Phobut | Senior Coordinator, CBRE Thailand

CBRE, an international property consultancy company, reveals that co-working space seems to be on the tip of everyone’s tongue these days. There was a time when no-one knew what the term “serviced office” meant or why someone would want such an option. But today, you can’t open a business publication without seeing an article about co-working. Most people think of co-working spaces as being a thriving hub of young latte-sipping, technology entrepreneurs, coming up with the next big idea that will make them multi-millionaires.

While there is an element of truth to this image, the end-goal for many co-working space operators is to change the way that companies, not just start-ups, source their office space. They want companies to pay for office space as a service rather than follow the traditional route of signing a lease, fitting out their own space, having an office manager maintain the premises and hiring their own employees for reception and administrative duties.

Co-working office operators usually offer companies their own private space. It is most common to be offered an office based on the size you will need to fit in a set number of desks. For example, if your company has four employees, your package offer will include a furnished closed office with four desks, 4 chairs and optional telecommunications equipment for four people (internet service, phone number and a telephone handset).

There is usually a common kitchen area and spaces to meet and mingle. Think of it like a five-star hotel, you’re not sharing a room, but you are getting a high level of service and amenities on the premises.

You usually have a short-term commitment, not signing a lease for years. The best deal is usually for a year or more, but you can lease your office for as short as one month. Starting and ending your relationship with an operator is most often quick and easy. Since the office is already outfitted and reception services provided, getting to work is much quicker than when you need to design your new space yourself or hire your own support staff.

“Competition in the space is red hot. As more and more offices pop up, the fight to achieve 100% occupancy is fierce. When shopping for your space, be sure to consider more than just price, as the services and reputation of your provider are just as important.

“If you do your homework, you’ll avoid the pitfalls of co-working space, such as unreturned deposits, unexpectedly thin walls between units or fees for things like coffee and copying that you didn’t expect. The great news is, changing providers is much easier than with traditional space,” states Mr. Nithipat Tongpun, Head of Advisory & Transaction Services – Office, CBRE Thailand.

According to a recent CBRE report on the New York City office market:

  • While traditional long-term leases are the preferred model for business and the foundation of the commercial office market, the rapid growth of third-party flexible space operators provides occupiers with a wide variety of options for leasing office space. Since 2013, when the expansion of third-party flexible space began to gain significant traction, the sector has averaged an annual growth rate of 22 percent.
  • There are strong indicators of user demand for the services of the third-party space providers. In fact, 75 percent of corporate occupiers anticipate including co-working or flexible space in their occupancy portfolio over the next three years.
  • Smaller users also continue to be an important part of the target market; as the flexible space footprint has grown in Manhattan, the amount of traditional leasing among tenants under 5,000 sq. ft. has dropped off by 42 percent between 2013 and year-end 2017, suggesting that these users are migrating to flexible space solutions.

In Bangkok, four large co-working space operators are opening in multiple locations. JustCo, Spaces, The Great Room and WeWork leased a combined total of 25,000 square metres of space in some of Bangkok’s best office buildings last year and they are still growing.

“I recently met Yvan Maillard, general manager of The Great Room‘s Singapore operation and he said that, in Singapore, 30% of his clients are late stage start-ups, 30 % are private investment family offices and 30% are mainstream corporates. In the case of corporates, they often lease co-working space as a stopgap before finding a larger permanent office for their expanding team,” said Mr. James Pitchon, Head of Research and Consulting, CBRE Thailand.

It is not only the way companies source their office space that is changing. Even those companies who continue to lease office space directly are changing the way that they use the space – having your own office or even your own desk is out of fashion – agile working is all the rage.

Mr. Nihipat added, “Companies are providing employees with a daily choice of environments from quiet space to a layout that enables teams to collaborate. Employees are expected to move around the office, depending on their tasks. The objective is to create a workspace that fulfills the employees’ needs in a high-quality environment, while minimizing the number of individual desks needed, effectively putting more people to work in less space.”

Globally and in Bangkok, the office market will continue to evolve and while traditional leases are yet to be seen as a thing of the past, CBRE expects more companies to provide agile working environments. CBRE also expects to see significant growth in the amount of co-working spaces provided by third party suppliers.

“This will mean an increase in the demand for high quality buildings with flexible, column free floor plates, technically advanced air conditioning and temperature control, as well as sufficient lift capacity to deal with higher rates of occupation density.

Many of the new generation of buildings currently under construction or being planned in Bangkok will have these features and we won’t be surprised to see more and more co-working spaces open their doors as companies weigh the real advantages of this option versus traditional space.

Co-working space - not just for start-ups | News by The Thaiger

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Coronavirus (Covid-19)

Bangkok’s UK visa application centre to reopen

Jack Burton

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Bangkok’s UK visa application centre to reopen | The Thaiger
PHOTO: Thai Embassy

Below is the text of a press release from the British Embassy, lightly edited for brevity:

“On June 1, UK Visas and Immigration will begin a phased resumption of services and our main Visa Application Centre in Bangkok (The Trendy Office Building, 28th Floor
Sukhumvit Soi 13, Klongtoey-Nua, Wattana, Bangkok 10110) will be open. Customers who were unable to attend earlier appointments will be able to log into their account to book new appointments from May 26. Customers who have completed their application on GOV.UK, but didn’t previously book an appointment at the Visa Application Centre, can do so from May 25.

Your safety is our priority, so customers visiting our Visa Application Centres will be asked to observe social distancing, undergo temperature checks or be required to wear facemasks/gloves, subject to local authority guidelines. Visitors exhibiting Covid-19 symptoms, including fever higher than 38℃, cough or difficulty breathing will be helped to reschedule their application submission for another day and will be advised to seek medical attention at the nearest healthcare facility of their choice.

Due to restrictions in place globally, we are not able to offer the following services: Super Priority Visa, Priority Visa Service (visit) or Priority Visa for settlement or migration Service.

We strongly advise all visitors to purchase Courier Return of their documents, so they do not need to visit the Visa Application Centre again after a decision is reached. If a decision has been made on your application and you need to collect your passport, we will contact you to arrange this.

We will continue to monitor the situation and post updates on this page.

From June 8, there will be new rules in place for entering the UK because of the Covid-19 coronavirus. Please check the latest information at gov.uk/uk-border-control.”

SOURCE: vfsglobal

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Crime

Thai man arrested for distributing child porn on social media

Caitlin Ashworth

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Thai man arrested for distributing child porn on social media | The Thaiger
PHOTO: INN News

A man was arrested for processing and distributing child pornography after a report from a US agency, police announced yesterday. The US National Centre for Missing and Exploited Children traced the uploaded pornography back to Thailand and notified Thailand immigration police.

The man, Thai media reports as ‘Kittiphong’, uploaded and sold the child pornography on Twitter and the messaging app Line. He had a membership fee of 350 baht, or around $11 USD. Authorities gained information through the online reporting system CyberTip, the Chiang Rai Times reports.

Police from immigration, anti-trafficking division and the Thailand Internet Crimes Against Children Task Force raided Kittiphong’s room in Bangkok and found 8 cell phones with photos of children. The background of the photos matched the man’s room. He was arrested and charged with child pornography for financial exploitation. He is also facing charges of sexually abusing children 13 years old and younger.

SOURCE: Chiang Rai Times

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Transport

High speed railway linking Thailand and China takes another step

Jack Burton

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High speed railway linking Thailand and China takes another step | The Thaiger
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A high speed rail link between Thailand and China is closer to becoming a reality, according to Thai Transport Minister Saksayam Chidchob. The signing of “Contract 2.3″ for the Bangkok-Nakhon Ratchasima section is expected in October this year. China has become a major player in the railway industry and, as a result, many countries, including Thailand, are working with China to develop their own high speed rail networks.

Following the meeting of the 28th Thai-Chinese Joint Committee, Chidchob said the 2 sides agreed on the 50.6 billion baht draft contract including the content on signaling and operation systems. The 253 kilometre rail route from Bangkok to Nakhon Ratchasima in the northeast is part of a stage 2 project which will ultimately link Bangkok to NongKhai, bordering Laos.

The first phase covers a 125 billion baht link from Bangkok to Nakhon Ratchasima. The second, expected to cost 200 billion baht,will run 355 kilometres from Nakhon Ratchasima to Nong Khai. For the second project, Thailand is working with China’s State Railway Group.

The projects form part of China’s Belt and Road Initiative, launched by President Xi Jin-ping 6 years ago, according to the president of the All-China Journalists Association.

“This Belt & Road Initiative project will help China integrate with the rest of the world and link the Chinese dream with the global dream.”

The Belt and Road Initiative was developed to bolster economic and social ties with 65 countries in Asia, Africa and Europe, covering an estimated population of 4.4 billion people.

“I think it is important. The project will help connect people in the two countries via Laos. It can help promote socio-economic development and prosperity in these two countries and also across the whole Asian region. China has made a lot of investments in Laos. Among them is the China-Laos Railway, running from Kunming to Vientiane.”

Under Contract 2.3, 80% of the payment will be made in US dollars and the remaining 20% in baht.

The signing is scheduled for October or sooner before the 5 year project commences. PM Prayut Chan-o-cha will preside over the signing ceremony at Government House.

SOURCES: Bangkok Post | TNA

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