• CP LAND aims to achieve a rental occupancy rate of over 90% for its 13 CP Tower buildings by early 2025.
  • CP LAND is aggressively entering the office rental market across Thailand, positioning itself as a 'First Mover' in regional office spaces.
  • CP Tower is currently in a recovery phase, with an occupancy rate exceeding 50%.
  • In Bangkok, the occupancy rate for the 4 CP Tower buildings is between 80% and 90%.
  • The 9 regional CP Tower buildings have an occupancy rate of 40% to 50%.
  • CP Tower reports the highest occupancy rates in three provinces: 1. CP Tower Khon Kaen with an average occupancy of 84%, 2. CP Tower Hat Yai at 80%, and 3. CP Tower Phitsanulok at 77%.

Mr. Kirati Satasuk, CEO of CP LAND Public Company Limited, stated that the office business under CP LAND, a leading real estate developer in Thailand, is set to advance into the office rental market with a goal of achieving a 90% occupancy rate for CP Tower across 13 buildings nationwide by early 2025. The company emphasizes its strength as a 'First Mover' in regional office spaces, offering flexible office designs suitable for all businesses while integrating technology to enhance quality standards, service, convenience, and safety, creating an ideal work environment or ecosystem that supports the potential of modern employees.

Mr. Chaiwat Aemwong, Senior Vice President of Retail and Office Business at CP LAND, mentioned that the overall office rental business of CP LAND is currently recovering in line with the industry, with an occupancy rate of over 50% across all 13 CP Tower buildings. The 4 buildings in Bangkok have an occupancy rate of 80% to 90%, which is significantly high compared to the office rental industry. In contrast, the regional office buildings have an occupancy rate of 40% to 50%. CP LAND plans to target leading organizations in both the public and private sectors seeking standard office spaces comparable to those in Bangkok, while also facilitating businesses according to their specific needs, offering fully furnished office spaces ready for immediate occupation to boost occupancy rates to 90% by early 2025.

CP LAND's CP Tower office rental properties consist of 13 buildings, including 4 in Bangkok, strategically located in prime business districts serving leading organizations in both the public and private sectors. These include: 1. CP Tower 1 (Silom), located in a high economic activity area with convenient access to BTS Sala Daeng and MRT Silom stations, as well as retail space; 2. CP Tower 2 (Fortune Town), a mixed-use building that includes the Grand Fortune Bangkok Hotel, Lotus supermarket, offices, and Fortune Town shopping center, situated in the new CBD area of Rama 9; 3. CP Tower 3 (Phaya Thai), home to renowned tutoring institutions, offices, and retail space, connected to BTS and Airport Rail Link Phaya Thai station; and 4. CP Tower North Park (Vibhavadi Rangsit Road).

“CP Tower North Park, located on Vibhavadi Rangsit Road in northern Bangkok, is the latest office building from CP LAND, distinguished as a smart building under the concept of 'Office in The Park,' allowing employees to work surrounded by large green spaces, combining a pleasant atmosphere with modern energy-saving technology. It has received BEC (Building Energy Code) certification from the Ministry of Energy, with flexible office layouts that cater to diverse business needs, addressing the lifestyle of environmentally conscious modern employees who seek work-life balance. We believe this office concept will drive the occupancy rate of CP Tower North Park to 90% as planned,” said Mr. Chaiwat.

In the regions, CP Tower buildings have been upgraded to meet standards comparable to those in Bangkok, comprising 9 buildings across 7 provinces: 5 in the Northeast, including 1. CP Tower Khon Kaen (3 buildings), 2. CP Tower Udon Thani, and 3. CP Tower Nakhon Ratchasima; 3 in the South, including 4. CP Tower Nakhon Si Thammarat, 5. CP Tower Hat Yai, and 6. CP Tower Surat Thani; and 1 in the North, 7. CP Tower Phitsanulok.

“The regional CP Tower office rentals can be considered 'First Movers,' especially in major cities, with an average occupancy rate exceeding 50%. The three provinces with the highest occupancy rates are: 1. CP Tower Khon Kaen (3 buildings) with an average occupancy of 84%, 2. CP Tower Hat Yai at 80%, and 3. CP Tower Phitsanulok at 77%. Currently, the main clients of CP Tower in the regions include government agencies and private service companies in sectors such as lending, insurance, and call centers, with plans to expand into technology and healthcare businesses,” Mr. Chaiwat concluded.

For those interested in standard office spaces in Bangkok and the regions, please contact 083 989 1505, 091 774 9233, visit our website at www.cptower.co.th, or our Facebook Page: CP Tower.

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