BANGKOK, 4 MARCH 2024
Frasers Property (Thailand) Public Company Limited (“FPT”), Thailand’s first integrated real estate platform, has launched an Asset Enhancement Initiative (AEI) at two Grade A office buildings: Sathorn Square and Park Ventures, managed under Golden Ventures Leasehold Real Estate Investment Trust (GVREIT). This strategic initiative aims to elevate the quality of its office building assets, aligning with international standards to comprehensively address the needs of all tenants and users and enhance the competitiveness of the office building portfolio in response to the significant surge in office building supply. The AEI project, focused on improving overall efficiency and aesthetics, will incorporate advanced technological features and innovative services to deliver a high-quality experience for tenants and visitors. The Asset Enhancement Initiative at Sathorn Square is set to commence in March 2024 and is expected to be completed in September 2024, while the Park Ventures is scheduled to start in April 2024 and reach completion by October 2024.
Mr. Withawat Koottatep, First Executive Vice President of Commercial Development at Frasers Property Commercial (Thailand), a leading Grade A commercial in Bangkok’s CBD and mixed-use real estate company, shared: “Frasers Property Thailand is committed to delivering quality experiences to customers, building occupiers, and tenants in every aspect. Drawing from our extensive experience across the Frasers Property Group’s international portfolio, AEI implementation for the two buildings will include technology to uplift quality of life and enhance building efficiency, aligning with green initiatives to meet the evolving demands of leading companies and corporations. We are confident that the AEI project will strengthen FPT’s competitive advantage in the office building market, which is anticipated to experience an influx of new office space with 1.8 million sqm . entering the market during 2024 – 2026.”
Frasers Property Thailand will introduce the latest smart building technology at its two buildings as part of the AEI. Once complete, tenants can look forward to self check-in kiosks, smart car parking systems, face recognition technology for access control and indoor air quality (IAQ) monitoring to boost the overall workplace experience, while enhancing the building’s operational efficiency. The initiative is also set to boost both buildings’ sustainability profile; sustainable materials will be used as part of the enhancement works, while energy-saving light bulbs and solar PV panels, will be introduced to enhance energy efficiency. The company also plans to revitalise an overall building ambiance with a modern and spacious interior design that caters to the needs of contemporary lifestyles and improve space efficiency.
The redesign of Sathorn Square takes inspiration from its name, combining square elements with neo-vibrant colors to enrich the vibrancy and overall environment for office workers.
The retail space at Park Ventures will be revamped based on a modern design concept, creating an inviting atmosphere.
The AEI of Sathorn Square and Park Ventures is part of Frasers Property Thailand’s commitment as a customer-centric real estate service provider offering comprehensive services encompassing innovative designs, state-of-the-art facilities, and environmentally sustainable practices. The company recently introduced a comprehensive 360-degree rental service known as a Space-as-a-Service to strengthen its progress as a ‘Real Estate as a Service’ brand in Thailand.
