Frasers Property Thailand’s FPCT unveils first 3 office buildings in Thailand to meet WiredScore digital standard

WiredScore, a global organization that sets the new benchmark for the digital age, recognizes buildings with advanced technology infrastructure and top-notch digital connectivity.

International standards for modern office buildings are not limited to energy-saving and occupants’ health, said Withawat Koottatep, Executive Vice President of Commercial Development at Frasers Property Commercial (Thailand).

“As a prime developer of grade-A office buildings in Bangkok, FPCT always strives to exceed the accepted standards,” he said.

“Apart from being certified under standards such as LEED (Leadership in Energy and Environmental Design) and WELL Building, which focuses on tenants’ health and well-being– our buildings also focus on digital connectivity to facilitate business lifestyles in the post-Covid era,” he added.

Withawat noted the pandemic has shifted people’s working behaviour towards digital platforms, and modern office buildings had to cater to this need. That is why Frasers has adopted the WiredScore standard, which focuses on four main aspects of a building’s digital connectivity: Connection capability, readiness of services, digital infrastructure, and innovation for future expansion.

Created in the US in 2013, the WiredScore has become a new benchmark for office buildings in the digital era after quickly expanding to Europe, Australia, and Asia.

The standard was introduced to Thailand earlier this year, marking a turning point in the country’s office real-estate business.

To stay ahead of modern trends, Frasers promptly adopted the WiredScore standard for five of its grade-A office building in Bangkok’s central business district. Park Ventures Ecoplex, FYI Center, and Samyan Mitrtown are the first group of occupied buildings in Thailand to receive the prestigious WiredScore certification. Park Ventures Ecoplex has achieved the highest level of certification, obtaining the Platinum standard, while FYI Center and Samyan Mitrtown have been awarded the Gold standard. The evaluation process for Sathorn Square and Silom Edge is currently underway, with the results expected to be announced by the end of 2023.

Together, these buildings have over 260,000 sqm of office space and an average occupancy rate of 92%, strengthening their positions in prime locations of Bangkok.

Withawat said the five buildings contribute 10% of the company’s annual revenue, prompting Frasers to implement the new standard to distinguish itself from other office-space providers in Thailand.

FPCT also predicts fiercer competition in Thailand’s office-space market due to added supply of 1.7 million square metres in the next few years.

“This will force existing buildings to further improve their facilities and environment to retain customers,” said Withawat. “They will also need to adopt international standards to fulfill the needs of multinational companies that will be establishing branch offices in Thailand, especially in CBD areas.”

“Most investors and business owners already see Thailand as a cost-effective and attractive destination, thanks to its favorable business environment, robust infrastructure, and recognized standards in building construction and tenant management. This allows business owners to access world-class office spaces at reasonable budgets,” he said.

He added that over 50% of tenants in FPCT’ five CBD office buildings are multinational corporations in sectors such as IT, manufacturing, finance, insurance, airlines, and logistics.

“WiredScore is a global standard that affects decisions of international companies looking for high-quality office space for their operations in the digital era,” said Withawat. “Besides having a convenient location, premium brand, and competitive rental rate, buildings must also provide reliable international internet connection, as well as infrastructure for future expansion, to stand out from the rest.”

FPCT's adoption of the WiredScore standard not only demonstrates its commitment to creating inspiring experiences and places for good but also strengthens its competitiveness in the office rental market. By meeting global benchmarks and offering top-notch connectivity, FPCT sets itself apart and attracts businesses seeking world-class office spaces. This strategic approach allows FPCT to meet the evolving demands of the market while providing a competitive edge in the office rental sector.