One Bangkok appoints JLL as district-wide property manager
The appointment represents the largest property management contract ever awarded to JLL in Southeast Asia
One Bangkok Co., Ltd. announced the appointment of JLL as the district-wide property manager for One Bangkok, the largest holistically integrated district in the heart of Bangkok. JLL will provide a complete package of property management for office, retail, residential, and overall district common area.
Jointly developed by TCC Assets (Thailand) Co., Ltd., and Frasers Property Holdings (Thailand) Co., Ltd., One Bangkok comprises 5 premium grade A office towers, 4 distinct yet connected retail precincts, 5 luxury and lifestyle hotels, 3 luxury residential towers, 50 rai of green and open space with common facilities, and a multi-sensory Art Loop, all on the total land area of 108 rai. The project is being built with smart and sustainable centralized infrastructure to maximize performance, efficiency, safety, and user experience. The project aims to become the first LEED Platinum Neighborhood Development in Thailand and WELL Platinum standards.
Lim Hua Tiong, Chief Executive Officer, One Bangkok said, “The scale in operating a large mixed-use lifestyle district like One Bangkok requires industry-leading expertise, best-in-class comprehensive planning and management, and quality control standards. JLL stands out when it comes to property and asset management. Their undisputable reputation as Thailand’s leading property manager for prime-grade assets has given us the confidence that, with this partnership, One Bangkok will be operated and maintained with best-in-class integrated technology, modern solutions, and services.”
Michael Glancy, Country Head of JLL, said “Real estate has played a key role in shaping the future of urban ecosystems. The development of One Bangkok exemplifies the case well. Through a futureproof place-making concept supported by innovative technologies, One Bangkok has been designed to create a more sustainable and human-centric built environment where people, businesses, and communities will thrive. JLL is proud to be selected to be the property manager for this exciting project.”
The five-year contract commits JLL to providing integrated full project transition and handover then rolling into property management. JLL is initially bringing in an on-site property management workforce of 200 employees this year, ahead of One Bangkok’s first phase opening in the first quarter of 2024. This workforce will gradually grow to more than 300 when the district reaches full completion.
Mr. Glancy said “The property management appointment for One Bangkok is very important to us. By gross area, it is the largest property management contract ever awarded to JLL in Southeast Asia and represents a great opportunity for us to showcase our full property management capabilities. It has also reinforced our position as the leader in prime-grade property management in Thailand. Today, we manage a property portfolio of over 7.5 million square metres. We also manage more commercial properties with LEED credentials than other property management service providers in the kingdom.”
JLL has played an increasing role in One Bangkok. Prior to the property management appointment, the firm acted as a property management consultant for this high-profile real estate development project at the design stage to ensure it would be operated and maintained according to the original intent and guaranteed international standards. JLL has also recently been appointed as one of the strategic office leasing partners for the first phase of the project.
As the property manager, JLL has been collaborating with One Bangkok’s Smart City team to help run the ‘Command Centre’, which will have the latest intelligent building management platforms available to real estate owners and occupiers with advanced data collection, analytics, and operational knowledge for real-time, remote monitoring of buildings and facilities. The technology layer at One Bangkok will capture operational data of equipment and facilities through a plethora of sensors and systems, such as building automation system and security systems in critical locations, covering temperature, humidity, illumination, vibration, flood detection, etc. With centralized data storage, the property management team will be able to identify trends and anomalies, allowing continuous monitoring and fine-tuning of building services to increase efficiency, security, and transparency in operation and maintenance, as well as reduce costs and save energy.
Seen in the photo are Lim Hua Tiong (middle), CEO of One Bangkok, and Michael Glancy (3rd from right), Country Head of JLL Thailand, who signed the property management contracts for One Bangkok, along with representatives from One Bangkok -- Worawat Srisa-an (3rd from left), Deputy Chief Executive Officer, and Peerapa Bureerax (2nd from left), Vice President, Facility Management; and representatives from JLL -- Albert Ovidi (2nd from right), Chief Operating Officer, Asia Pacific, and Dexter Norville (1st from right) and Chakrapan Pawangkarat (1st from left), Co-Heads of Property and Asset Management, Thailand.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.