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  • AIA Thailand Appoints CBRE as Principal Agent for Office Developments in Bangkok

AIA Thailand Appoints CBRE as Principal Agent for Office Developments in Bangkok

December 3, 2012
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​December 2012, Bangkok – AIA Thailand announces the appointment of CBRE Thailand as the principal agent for leasing grade A office spaces in the AIA Capital Center and AIA Sathorn Tower, its first large-scale real estate projects in Thailand with a total of 92,500 square metre lettable area.

“We are very excited about the projects because they are our first ever real estate developments that feature office and retail components and located in Bangkok’s prime business areas, potentially setting a footstep for AIA to grow further and beyond our core business in life insurance”, disclosed Mr. Ron van Oijen, AIA Thailand’s CEO in a contract signing ceremony, adding that “given the significance of the projects to AIA Group and AIA Thailand, it gives us a great deal of confidence to enlist services from a highly experienced agent like CBRE that will help drive success to both of our commercial real estate developments”.

Located on Ratchadapisek Road and only 100 metres away from the Thailand Cultural Center MRT station, the AIA Capital Center will be a 35-storey office complex with a floor plate of 1,700- 1,800 square metres, offering 54,000 square metres of premium grade A office space for rent. In addition, there will be almost 5,000 square metres of retail space available to rent. “This iconic office development will be the first grade A office development in Bangkok’s northern corridor and it will use cutting-edge green designs to ensure a sustainable future and optimum efficiency in terms of energy and space usage. The building has attained LEED Gold Precertification from USGBC in the United States,” stated Mr. Nithipat Tongpun, Executive Director and Head of Office Services at CBRE Thailand.

AIA Sathorn Tower will be a 28-storey grade A office development situated on South Sathorn Road, at the corner of St. Louis Soi 3, and will offer 38,500 square metres of office space for rent with a slightly larger floor plate of approximately 1,500 square metres. Designed with the same cutting-edge green concept, this building also aims to obtain a LEED Gold certificate. According to Mr. Nithipat, “both developments will feature column-free designs and the highest ceilings in the Bangkok office market, at 3 metres. This unique ceiling height is perfect for tenants requiring raised floors. I think this is a perfect time to launch both the AIA Capital Center and AIA Sathorn Tower as the Bangkok office market is now tightening, with very limited supply, especially of grade A space. Moreover, I believe that the AIA Capital Center will open up a new market for grade A office space outside Bangkok’s central business district (CBD).”

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or “the Group”) comprise the largest independent
publicly listed pan-Asian life insurance group. It has wholly-owned main operating subsidiaries or branches
in 14 markets in Asia Pacific – Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines,
Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau and Brunei and a 26 per cent joint venture
shareholding in India. The business that is now AIA was first established in Shanghai over 90 years ago. It is a market leader in the Asia Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$119,494 million as of 31 May 2012.
AIA meets the savings and protection needs of individuals by offering a range of products and services
including retirement saving plans, life insurance and accident and health insurance. The Group also
provides employee benefits, credit life and pension services to corporate clients. Through an extensive
network of agents and employees across Asia Pacific, AIA serves the holders of more than 24 million
individual policies and over 10 million participating members of group insurance schemes.AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the
stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the- counter market
(ticker symbol: “AAGIY”).
 

About CBRE

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the
world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has
approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and
occupiers through more than 300 offices (excluding affiliates) worldwide.
CBRE established an office in Bangkok in 1988, followed by its Phuket office in 2004. CBRE Thailand has
grown to be a leading real estate services provider, offering strategic advice and execution for sales and
leasing for all types of property, property and facilities and tenancy management, valuation and advisory,
and research and consulting. For more information, visit the company's website at www.cbre.co.th.
 

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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Geraldine Cheong
Geraldine Cheong
Associate Director
Singapore
Marketing & Communications
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