One Bangkok Appoints JLL as the District-wide Property Manager

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. One Bangkok 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."

"Real estate has played a key role in shaping the future of urban ecosystems. The development of One Bangkok exemplifies the case well," said Michael Glancy, Country Head of JLL. "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," he continued.

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"

"The property management appointment for One Bangkok has also reinforced our position as the country's leader in prime-grade property management. 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 Thailand," said Mr. Glancy.

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.

Mr. Glancy said, "The new appointment is very important to us not only because it is the largest property management contract ever awarded to JLL in Southeast Asia, but it also represents a great opportunity for JLL to showcase our full property management capabilities."

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.

• ข่าว TCC Assets