A new office building by the property management firm Bhiraj Buri Co is expected to be completed within the fourth quarter of this year. Currently 72% complete, the new Bhiraj Tower at EmQuartier on Sukhumvit Soi 35 is in a prime central Bangkok location, an area that has typically been reserved for retail and Bangkok condo space. Upon its completion, the tower will stand 45 stories tall, just opposite the Emporium shopping centre and within a minute’s walking distance of public transportation.
The bottom eight floors will be used to create a new EmQuartier Department Store, owned by The Mall Group. Space between the 15th and 44th floors will be rented out for office space and the top floor will be rented out for meeting rooms. At this time, the firm has already secured 15% of its tenants, most of which are overseas companies.
With its advantageous location and modern design, sales for Bhiraj Tower’s open space are being targeted toward international firms setting up regional offices in Bangkok. The Bhiraj Tower will be up and running with plenty of time to spare before the ASEAN Economic Community forms in 2015, which will make Bangkok a hub for foreign regional companies.
Thailand’s Board of Investment (BOI) has confirmed that foreign investors are continuing to show loyalty to their investments in Thailand. December 2013 saw investment applications of over Bt200 billion from both Thai and foreign investors. Japanese investors made up the highest percentage, with 10% of total investment promotion applications.