The market conditions have not slowed down transactions in central Bangkok. CBRE Thailand , a leading global real estate consulting firm, announced its success as the sole agent in the sale of the mixed-use real estate project, Swissotel Bangkok Ratchada, which features 407 hotel rooms and the Le Concorde Office Tower, encompassing approximately 51,000 square meters. This project is located in the Ratchada area, which is attracting significant interest from investors, especially with the anticipated opening of the MRT Orange Line in 2025.

Mr. Barnaby Svensson, Head of Asset Management at CBRE Thailand, stated, "Over the past 12 months, we have clearly seen a significant increase in transaction volumes in the investment sector, including both vacant land and income-generating buildings, such as this mixed-use project comprising offices and a hotel. The average price per square meter for office buildings in central Bangkok is currently around 80,000 baht, although prices vary based on factors such as building grade, rental rates, occupancy rates, building features, and connectivity. This asset sale marks another successful transaction following our sale of premium land and office buildings in Sathorn last quarter. We are observing a narrowing price gap between buyers and sellers, and prepared investors are seizing this opportunity to acquire assets and expand their market share. This is the perfect time to invest in high-quality real estate."

Asset World Corporation (AWC), the buyer of this mixed-use real estate project, has announced a total investment plan of 8.7 billion baht for the acquisition and redevelopment of this project. This investment is part of a broader investment trend, as transaction volumes for hotel sales have surpassed the 10-year average, reaching one of the highest levels in a decade, including both freehold and leasehold sales, with most transactions occurring in Bangkok.

Mr. Attakavi Chusaeng, Head of Hotel Business at CBRE Thailand, commented, "This transaction reflects strong demand for high-quality assets and demonstrates investor confidence in repositioning assets to create added value. The overall project concept adjustment will make this hotel a leading choice in the Ratchada area, which has high potential and a limited number of branded hotels, supported by the robust performance of the hotel market in Bangkok since early 2023. As of March, the current hotel occupancy rate is 75.5%, slightly lower than the figures from 2022, while the average daily room rate is currently 4,397 baht, an increase of 2.5% from last year. The hotel assets we are currently selling have similar potential to enhance the returns that investors seek, supported by a broader market outlook.

CBRE predicts that the volume of real estate transactions for investment will remain high throughout the year, despite the earthquake event in March and some global market factors affecting the overall market. It is expected that prime locations with unique characteristics and development potential around business centers and transport hubs will yield the highest returns and best withstand market volatility.