JLL announces its leading position in LEED office building management in Thailand
By gross area, the firm is acting as property managers and property management consultants for more than half of LEED certified/registered office space in Bangkok
International property services firm JLL has revealed that it is now managing 1.74 million square metres of gross floor area in LEED certified office buildings, and projects that are currently under construction where developers have registered with the U.S. Green Building Council (USGBC) aiming to obtain LEED certification upon completion. This accounts for 58% of the total office gross floor area in LEED certified buildings and LEED registered projects across Bangkok, making JLL Thailand’s leader in property management for office buildings and projects certified by or registered with the USGBC.
LEED (Leadership in Energy and Environmental Design) is one of the world’s most popular green building certification programs. Developed by the USGBC, it includes a set of rating systems for the property design, construction, operation, and maintenance that aims to help building owners and operators be environmentally responsible and use resources efficiently.
Dexter Norville, a co-head of Property and Asset Management at JLL, says “At present, there is 1.26 million sqm of LEED certified office space in completed property developments across Bangkok. Of this, 877,000 sqm, or nearly 70% is managed by JLL. When excluding owner-occupied space, the existing stock of LEED certified office gross floor area in Bangkok totals 630,000 sqm, of which 577,000 sqm or over 90% is managed by JLL.”
“A portfolio of LEED certified office buildings or mixed-used developments with office components managed by JLL include Energy Complex, Park Ventures Ecoplex, AIA Capital Center, AIA Sathorn Tower, FYI Center, Sathorn Square and Pearl Bangkok. We are also managing another four commercial developments that have been registered to pursue LEED certification including G Tower, Spring Tower, Samyan Mitrtown, and The PARQ, with the last three developments being scheduled for completion this year.”
“Of these four developments, two are mixed-use projects - The PARQ by TCC Assets with Frasers Property Holdings as the project’s development manager, and Samyan Mitrtown by Golden Land Property Development. During construction, JLL had also been appointed as the property management consultants for these two projects, assuring that they were set be operated and managed to meet international standards and requirements of LEED, as well as WELL Building Standards that The PARQ is also pursuing,” says Mr. Norville.
Whilst LEED certification generally focuses on the physical building and its impact on the environment, the WELL Building Standards are a series of certifications by the International WELL Building Institute (IWBI) that broadly assess the building’s contribution to the wellness of people who use it. WELL certification is becoming increasingly popular among landlords and developers.
JLL is also acting as property management consultants for a number of major development projects that are currently under construction and pursuing LEED certification. These include One City Centre, a prime Grade A office development project and a joint venture between Raimon Land and Mitsubishi Estate with construction being scheduled for completion in 2022, and One Bangkok, Thailand’s largest mixed-use development project, a joint venture between TCC Asset and Frasers Property Holdings. Like The PARQ, One Bangkok is also pursuing WELL certification.
Mr. Norville adds “LEED buildings are not only built to high quality standards but are also required to be maintained to a standard where they still achieve the same operating goals they were built for. Some of the buildings being managed have also achieved LEED EBOM (Existing Building Operation and Maintenance) certifications. This underlines the buildings are managed to high standards and shows the landlords and property managers’ commitment to sustainability and creating a good environment for occupiers”.
Chakrapan Pawangkarat, the other co-head of Property and Asset Management at JLL, comments “Landlords are becoming increasingly aware that sustainable development offers a competitive advantage. In fact, both landlords and occupiers in green buildings share benefits from being recognized for their commitment to social responsibility and cost savings through more efficient energy consumption. This explains why a growing number of property developments incorporate green features in design, construction, building systems and practices with an aim to obtain certification from reliable green building programs such as LEED by the USGBC, and TREES (Thai Rating of Energy and Environmental Sustainability) established by the Thai Green Building Institute, the collaboration between the Association of Siamese Architects and the Engineering Institute of Thailand.”
“To achieve their sustainability ambition, many property developers and owners seek help from consultants and experts to assist with developing, operating and managing their green real estate. This has contributed significantly to our growing portfolio of LEED certified buildings that we manage in Thailand, building on our expertise in this area,” he says.
At present, JLL is an international property services firm in Thailand with the largest portfolio property and corporate facilities under management and as consultants, totaling seven million square metres of combined space. The firm was named Thailand’s Best Property Management Brand for third consecutive year in 2019 by Global Brands Magazine.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
The firm’s operation in Thailand began in 1990 and today is the country’s largest international property service provider with 1,600 employees and more than five million square metres of property and corporate facilities managed. In Euromoney Real Estate Survey 2018, JLL was voted as Thailand’s number one overall real estate advisor for the 8th consecutive year and also won top votes for agency/letting, research and valuation in the same survey. The firm was also named Thailand’s five-star winner in the commercial property consultancy and commercial real estate agency categories at the International Property Awards Asia Pacific 2019/2020. For more information, visit www.jll.co.th