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The post-Covid-19 era: Radical changes in Bangkok’s property market

The Thaiger

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The post-Covid-19 era: Radical changes in Bangkok’s property market | The Thaiger
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Property consultants CBRE have come up with their own evaluation of the current Bangkok office market, already getting pounded by regional trends and a high baht, now suffering another challenge – the Covid-19 coronavirus outbreak. They report that this situation will “create another split in our historical timeline – pre and post Covid-19” in Thailand.

“At present, people are talking about how a 100 year event like the Covid-19 global outbreak will affect Bangkok property,” says CBRE property consultants.

“For many years now, companies have been exploring remote work or work-from-home strategies to either minimise costs or cope with the changes of Millennial behaviour during the pre-Covid-19 period. At this time, almost every company, even those who are underprepared, is being forced to undertake this new way of working without a choice,” according to Ms. Roongrat Veeraparkkaroon, Head of Advisory & Transaction Services, CBRE Thailand.

Companies are experimenting a work-from-home policy and perceive an opportunity that it could work when applied to certain business functions and set the right balance between empowering and monitoring teams. This could mean that the future workplace will have a combination of agile workplaces which could be a permanent office as well as work-from-home, and co-working space.

The outbreak is acting as a catalyst that will give a company a clear view whether its remote working policy, which it has been considering, works. Once businesses realise what platform or infrastructure they are missing to support remote work, tech services companies will be one of the first beneficiaries after the storm has passed.

“Many organisations will be looking for satellite offices and cloud-based platforms as a Business Continuity Plan to ensure their businesses will not go dark if their headquarters could not be accessed. Co-working space will be one of the best choices in this case as the company can rent space on demand only when needed. However, in the post-Covid-19 world, co-working space operators will need solid measures to satisfy users that their space are safe and well-prepared.”

CBRE found that while some hotels in Bangkok have decided to shut down during the lockdown period as occupancy rates were in a single-digit level, some organisations have been renting meeting or conference rooms within hotels for weeks to be their backup meeting space when needed.

“Agile workplace has been a hot topic in the pre-Covid-19 world, where collaboration and engagement are encouraged. Initially, agile workplace might sound like a high-risk option for companies at this time; however, as the name suggests, agile workplace or Activity Based Work areas can be easily reconfigured to support social distancing strategies and split teams within offices. Paperless office makes this transition even more seamless.”

In a bigger picture, CBRE Research witnesses many office developments in Bangkok will be delayed as construction activities are halted or postponed as developers take a more defensive stance to assess the situation on a daily basis.

It is also possible that development plans will be revised to make projects more appealing in the Post-Covid-19 era with better property management system, air filtration (as PM2.5 still lingers in the Bangkok skyline) or a well-thought-out BCP to support the tenants.

“Agile and adaptive will be key words in the post-Covid-19 office market, not only to increase efficiency of a workplace but to prepare a business for any unforeseen changes that could occur in the future.”

The post-Covid-19 era: Radical changes in Bangkok's property market | News by The Thaiger

PHOTO: Ms. Roongrat Veeraparkkaroon, Head of Advisory & Transaction Services, CBRE Thailand – CBRE

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Transport

Thousands of people have been travelling between provinces

Anukul

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Thousands of people have been travelling between provinces | The Thaiger
FILE PHOTO: corporate-office.business

… but not quite as many as before, so far. The Director General of the Department of Land Transport says that more people have been using the inter-provincial buses services after the government recently easing Thailands’ lock down situation.

He says…

“Although some long distance services are still not in operation to comply with the night time curfew, many inter-provincial routes of around 300 kilometres are open and have seen many commuters.”

“The department will gradually add buses to facilitate increased use and maintain social distancing.”

The department has announced that there were just under a million passengers per day using public buses running between Bangkok and nearby provinces from March 1-25, (the period before the State of Emergency).

  • 141,240 passengers per day taking buses between the capital and other provinces,
  • 9,128 using buses between provinces,
  • 2,379 using buses within a province.

Reports have revealed that after the emergency was effective across the nation from March 26 to May 1, there was a decrease in the number of passengers with 472,210 passengers per day travelling from Bangkok to surrounding provinces, 4,090 from the capital to other provinces, 5,612 on inter-provincial routes and 2,156 passengers between provinces.

After the lockdown was eased on May 2 up to today, the number of passengers has increased to 508,490 per day travelling from Bangkok to surrounding provinces, 6,000 from Bangkok to other provinces, 9,020 on inter-provincial routes and 4,020 passengers between provinces.

SOURCE: Nation Thailand

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Coronavirus (Covid-19)

2 new cases of Covid-19 reported in Thailand with one additional death (May 25)

Anukul

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2 new cases of Covid-19 reported in Thailand with one additional death (May 25) | The Thaiger
FILE PHOTO: Bangkok.com

Today the Centre for Covid-19 Situation Administration announced 2 new confirmed cases of Covid-19 in Thailand with 1 additional death. The 2 new cases consist of 1 imported case, a Thai woman repatriated from Russia last Wednesday who is currently under state quarantine in Chon Buri province.

The other is a 49 year old Chinese citizen, the wife of an Italian who has been confirmed infected. She travelled from China to Phuket on March 9 and remained on the island due to the lockdown. She lives in Cherngtalay with her husband and 3 children aged 15, 10 and 7. She shows no symptoms at this stage. Cherngtalay is the tambon bordering Bang Tao, a hotzone for new cases during April and early May.

Thailand’s total number of confirmed cases is now 3,042 with 57 deaths since the outbreak began in January. 2,928 of those have fully recovered and been released from hospital, with an additional 7 new discharges overnight.

Only 57 people remain under medical care for the disease nationwide, and the recovery rate is 96%.

The additional death was a 68 year old Thai woman in Chumphon, southern Thailand. She was reported to have “many personal health issues and the cause of death was due to failure in her lungs and an infection in her bloodstream.”

“She had been in the hospital fighting Covid-19 for about a month and she finally passed away yesterday, minutes after midnight.”

Chon Buri province has had no new confirmed cases in 31 days, with Pattaya 10 days further ahead with no new confirmed cases for 41 days.

SOURCE: Bangkok Post | The Pattaya News

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Bangkok

Gas explosion in Pathum Thani destroys garage, 10 cars

Jack Burton

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Gas explosion in Pathum Thani destroys garage, 10 cars | The Thaiger
PHOTO: Thai Rath

Fire ravaged a garage in Pathum Thani, just north of Bangkok, last night, causing a massive explosion of gas cylinders stored inside. Damage was extensive but, fortunately, no injuries were reported. Police at Khu Khot police station were notified at about 8pm, and say the bush fire broke out in tambon Lat Sawai of Lam Luk Ka district.

More than 10 fire trucks, firemen and rescue workers rushed to the scene. They saw grass burning on a vacant land plot and an adjacent automotive parts shop in flames. There were 10 cars and various auto parts, as well as gas cylinders, in the garage, and as the fire tore through it, the cylinders exploded.

Firemen took almost 1 hour to bring the fire under control. The garage, all the cars and other contents were destroyed. Pieces of the gas cylinders also damaged several roofs in the area. 53 year old Khwanmuang Bamrungkit, whose roof was damaged, says he was having a meal when the flaming debris fell on his roof.

56 year old Bunthan Seelabut says he and his family were also eating when the fire broke out. He immediately sprayed water on the walls of his house while his wife called for firemen.

SOURCE: Bangkok Post

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