Key Insights
The Thailand commercial real estate market, valued at approximately 17 million (USD) in 2025, is projected to experience robust growth, with a Compound Annual Growth Rate (CAGR) of 5.97% from 2025 to 2033. This expansion is driven by several key factors. Firstly, Thailand's thriving tourism sector, particularly in key cities like Bangkok, Chiang Mai, Hua Hin, and Koh Samui, fuels demand for hospitality and retail spaces. Continued foreign direct investment and economic diversification also contribute to growth in the office and industrial & logistics sectors. Infrastructure development projects, including improved transportation networks, further enhance the appeal of commercial properties across the country. The market segmentation reveals a significant concentration in Bangkok, reflecting its status as the nation's economic and commercial hub. However, growth is anticipated in secondary cities as well, driven by regional development initiatives. Competition amongst developers like Supalai Company Limited, Central Pattana PLC, and Pace Development Corporation PLC, alongside international players like CBRE Thailand and Savills, is intense, indicating a dynamic and competitive landscape.
Despite the positive outlook, certain challenges exist. These include potential fluctuations in the tourism sector due to global economic uncertainties and the ongoing impact of geopolitical events. Furthermore, construction costs and land scarcity in prime locations could put upward pressure on property prices, potentially limiting growth in certain segments. The rising interest rates and potential changes in government policies related to foreign investment may also influence market trends. Overall, the Thailand commercial real estate sector presents both significant opportunities and risks, requiring careful assessment and strategic planning by investors and developers alike. The continued growth in key sectors and the diversification of the economy suggests a positive long-term outlook, provided that potential headwinds are effectively managed.
Thailand Commercial Real Estate Industry: 2019-2033 Market Report
This comprehensive report provides an in-depth analysis of the Thailand commercial real estate market from 2019 to 2033, focusing on market dynamics, growth trends, key players, and future opportunities. The study covers key segments (Office, Retail, Industrial & Logistics, Hospitality, Others) across major cities (Bangkok, Chiang Mai, Hua Hin, Koh Samui, and Rest of Thailand), offering valuable insights for investors, developers, and industry professionals. The report utilizes data from 2019-2024 (Historical Period), with the base year set at 2025 and forecasts extending to 2033 (Forecast Period).

Thailand Commercial Real Estate Industry Market Dynamics & Structure
The Thailand commercial real estate market is a dynamic landscape shaped by a complex interplay of factors. Market concentration is moderate, with a few large players like Supalai Company Limited, Central Pattana PLC, and others holding significant shares, while numerous smaller developers and real estate agencies contribute substantially. Technological innovation, driven by proptech startups and adoption of digital marketing strategies, is reshaping the industry. However, barriers exist, including limited access to funding for smaller firms and a need for greater digital literacy among some stakeholders. The regulatory framework, while generally supportive of foreign investment, involves complexities that can impact development timelines. Substitutes, such as co-working spaces and flexible office solutions, are influencing the office segment. Finally, M&A activity is moderate, with an estimated xx Million USD in deals completed in 2024, predominantly involving smaller players consolidating their market position.
- Market Concentration: Moderate, with several large players and numerous smaller firms.
- Technological Innovation: Growing, driven by proptech but hindered by digital literacy gaps.
- Regulatory Framework: Supportive of FDI, but complex procedures can slow down development.
- Competitive Product Substitutes: Co-working spaces and flexible office solutions impact office segment.
- M&A Activity: Moderate; xx Million USD in deals estimated for 2024.
- End-User Demographics: Shifting towards younger professionals and multinational corporations.
Thailand Commercial Real Estate Industry Growth Trends & Insights
The Thailand commercial real estate market experienced significant growth in the historical period (2019-2024), driven primarily by a strong economy and robust tourism. However, the COVID-19 pandemic caused a temporary slowdown, particularly in the hospitality sector. The market is projected to recover strongly, exhibiting a Compound Annual Growth Rate (CAGR) of xx% from 2025 to 2033, reaching an estimated market size of xx Million USD by 2033. Technological disruptions, such as the increased adoption of Building Information Modeling (BIM) and smart building technologies, are improving efficiency and sustainability. Consumer behaviour has shown a shift towards flexible workspaces and environmentally conscious developments. The adoption rate of green building certifications is also growing steadily. This growth is further supported by increasing foreign investment and infrastructure development.

Dominant Regions, Countries, or Segments in Thailand Commercial Real Estate Industry
Bangkok remains the dominant market, accounting for over xx% of the total commercial real estate value. Its strong economy, infrastructure, and established business environment attract significant investment. However, other cities like Chiang Mai and Hua Hin are experiencing considerable growth, driven by tourism and rising domestic demand. By segment, the Office sector leads in terms of market share (xx%), followed by Retail (xx%) and Industrial & Logistics (xx%). The high demand for office space from both domestic and international businesses drives the office segment's dominance, while the growth of e-commerce and logistics fuels the Industrial & Logistics sector. Growth is significantly driven by favorable government policies supporting infrastructure development and strategic investments in key sectors.
- Bangkok: Dominant market due to strong economy and established infrastructure.
- Chiang Mai & Hua Hin: Growing markets driven by tourism and domestic demand.
- Office Segment: Highest market share due to demand from businesses.
- Retail Segment: Strong performance driven by e-commerce growth.
- Industrial & Logistics: Significant expansion due to logistics infrastructure investments.
Thailand Commercial Real Estate Industry Product Landscape
Product innovation is evident in the increasing adoption of sustainable building practices, smart building technologies, and flexible workspace designs. These features enhance energy efficiency, improve tenant experience, and increase asset value. Performance metrics are increasingly focused on sustainability certifications (e.g., LEED, Green Mark), occupancy rates, and rental yields. Unique selling propositions center on location, amenities, technology integration, and environmental responsibility.
Key Drivers, Barriers & Challenges in Thailand Commercial Real Estate Industry
Key Drivers: Strong economic growth, increasing foreign investment, tourism, infrastructure development, and government initiatives supporting real estate development.
Key Challenges: Land scarcity in prime locations, competition from new entrants, rising construction costs, regulatory complexities (e.g., obtaining permits), and potential economic fluctuations. The impact of these challenges can be seen in fluctuating vacancy rates and potentially slower than expected growth in certain sub-segments. For example, delays in obtaining permits can increase project timelines by an average of xx months, negatively affecting ROI.
Emerging Opportunities in Thailand Commercial Real Estate Industry
Emerging opportunities lie in sustainable and eco-friendly developments, the growth of tech-enabled real estate services, and expansion into secondary cities. Untapped markets include specialized industrial facilities for emerging sectors (e.g., data centers, biotech) and senior living accommodations. Evolving consumer preferences towards co-working spaces and flexible lease agreements are creating new possibilities for developers and investors.
Growth Accelerators in the Thailand Commercial Real Estate Industry Industry
Technological advancements in construction and management, strategic partnerships between local and international developers, and government initiatives promoting sustainable development will act as growth catalysts. Furthermore, the expansion into regional markets and development of specialized commercial properties will propel market growth.
Key Players Shaping the Thailand Commercial Real Estate Industry Market
- Developers: 3
- Colliers International Thailand: 2
- Hipflat: 2
- Supalai Company Limited: 4
- RE/MAX Thailand: 1
- Central Pattana PLC: 2
- Savills: 4
- Dot Property: 6 (List Not Exhaustive)
- Knight Frank Thailand*: 1
- CBRE Thailand
- Other Companies (Start-ups Associations): 5
- JLL Thailand: 3
- Pace Development Corporation PLC
- Real Estate Agencies: 1
- Property Perfect: 5
- Blink Design Group*: 4
- Raimon Land PCL: 3
- DDProperty
Notable Milestones in Thailand Commercial Real Estate Industry Sector
- December 2023: FitFlop expands its retail presence in Thailand, showcasing a revamped retail design.
- February 2024: Central Retail Corporation allocates THB 22-24 billion (USD 613-669 million) for expansion.
In-Depth Thailand Commercial Real Estate Industry Market Outlook
The Thailand commercial real estate market holds significant long-term potential, driven by continued economic growth, infrastructure development, and increasing foreign investment. Strategic opportunities exist in developing sustainable and technologically advanced commercial spaces to meet the evolving needs of businesses and consumers. Further expansion into secondary cities and specialization in niche sectors promise strong returns for investors who can navigate the market's complexities effectively.
Thailand Commercial Real Estate Industry Segmentation
-
1. Type
- 1.1. Office
- 1.2. Retail
- 1.3. Industrial and Logistics
- 1.4. Hospitality
- 1.5. Others
-
2. Key Cities
- 2.1. Bangkok
- 2.2. Chiang Mai
- 2.3. Hua Hin
- 2.4. Koh Samui
- 2.5. Rest of Thailand
Thailand Commercial Real Estate Industry Segmentation By Geography
- 1. Thailand

Thailand Commercial Real Estate Industry REPORT HIGHLIGHTS
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 5.97% from 2019-2033 |
Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Overall economic growth driving the market; The growth of business and industries driving the market
- 3.3. Market Restrains
- 3.3.1. Fluctuating economic conditions hindering the growth of the market; Difficulty in landownership and leasing rights affecting the market
- 3.4. Market Trends
- 3.4.1. Growing Demand for Retail Spaces in Thailand
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Thailand Commercial Real Estate Industry Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Type
- 5.1.1. Office
- 5.1.2. Retail
- 5.1.3. Industrial and Logistics
- 5.1.4. Hospitality
- 5.1.5. Others
- 5.2. Market Analysis, Insights and Forecast - by Key Cities
- 5.2.1. Bangkok
- 5.2.2. Chiang Mai
- 5.2.3. Hua Hin
- 5.2.4. Koh Samui
- 5.2.5. Rest of Thailand
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. Thailand
- 5.1. Market Analysis, Insights and Forecast - by Type
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- 6.2. Company Profiles
- 6.2.1 Developers
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 3 Colliers International Thailand
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 2 Hipflat
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 2 Supalai Company Limited
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 4 RE/MAX Thailand
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 1 Central Pattana PLC
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 2 Savills
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 4 Dot Property**List Not Exhaustive
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.9 6 Knight Frank Thailand*
- 6.2.9.1. Overview
- 6.2.9.2. Products
- 6.2.9.3. SWOT Analysis
- 6.2.9.4. Recent Developments
- 6.2.9.5. Financials (Based on Availability)
- 6.2.10 1 CBRE Thailand
- 6.2.10.1. Overview
- 6.2.10.2. Products
- 6.2.10.3. SWOT Analysis
- 6.2.10.4. Recent Developments
- 6.2.10.5. Financials (Based on Availability)
- 6.2.11 Other Companies (Start-ups Associations)
- 6.2.11.1. Overview
- 6.2.11.2. Products
- 6.2.11.3. SWOT Analysis
- 6.2.11.4. Recent Developments
- 6.2.11.5. Financials (Based on Availability)
- 6.2.12 5 JLL Thailand
- 6.2.12.1. Overview
- 6.2.12.2. Products
- 6.2.12.3. SWOT Analysis
- 6.2.12.4. Recent Developments
- 6.2.12.5. Financials (Based on Availability)
- 6.2.13 3 Pace Development Corporation PLC
- 6.2.13.1. Overview
- 6.2.13.2. Products
- 6.2.13.3. SWOT Analysis
- 6.2.13.4. Recent Developments
- 6.2.13.5. Financials (Based on Availability)
- 6.2.14 Real Estate Agencies
- 6.2.14.1. Overview
- 6.2.14.2. Products
- 6.2.14.3. SWOT Analysis
- 6.2.14.4. Recent Developments
- 6.2.14.5. Financials (Based on Availability)
- 6.2.15 1 Property Perfect
- 6.2.15.1. Overview
- 6.2.15.2. Products
- 6.2.15.3. SWOT Analysis
- 6.2.15.4. Recent Developments
- 6.2.15.5. Financials (Based on Availability)
- 6.2.16 5 Blink Design Group*
- 6.2.16.1. Overview
- 6.2.16.2. Products
- 6.2.16.3. SWOT Analysis
- 6.2.16.4. Recent Developments
- 6.2.16.5. Financials (Based on Availability)
- 6.2.17 4 Raimon Land PCL
- 6.2.17.1. Overview
- 6.2.17.2. Products
- 6.2.17.3. SWOT Analysis
- 6.2.17.4. Recent Developments
- 6.2.17.5. Financials (Based on Availability)
- 6.2.18 3 DDProperty
- 6.2.18.1. Overview
- 6.2.18.2. Products
- 6.2.18.3. SWOT Analysis
- 6.2.18.4. Recent Developments
- 6.2.18.5. Financials (Based on Availability)
- 6.2.1 Developers
List of Figures
- Figure 1: Thailand Commercial Real Estate Industry Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: Thailand Commercial Real Estate Industry Share (%) by Company 2024
List of Tables
- Table 1: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 2: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Type 2019 & 2032
- Table 3: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Key Cities 2019 & 2032
- Table 4: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 5: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 6: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Type 2019 & 2032
- Table 7: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Key Cities 2019 & 2032
- Table 8: Thailand Commercial Real Estate Industry Revenue Million Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Thailand Commercial Real Estate Industry?
The projected CAGR is approximately 5.97%.
2. Which companies are prominent players in the Thailand Commercial Real Estate Industry?
Key companies in the market include Developers, 3 Colliers International Thailand, 2 Hipflat, 2 Supalai Company Limited, 4 RE/MAX Thailand, 1 Central Pattana PLC, 2 Savills, 4 Dot Property**List Not Exhaustive, 6 Knight Frank Thailand*, 1 CBRE Thailand, Other Companies (Start-ups Associations), 5 JLL Thailand, 3 Pace Development Corporation PLC, Real Estate Agencies, 1 Property Perfect, 5 Blink Design Group*, 4 Raimon Land PCL, 3 DDProperty.
3. What are the main segments of the Thailand Commercial Real Estate Industry?
The market segments include Type, Key Cities.
4. Can you provide details about the market size?
The market size is estimated to be USD 17 Million as of 2022.
5. What are some drivers contributing to market growth?
Overall economic growth driving the market; The growth of business and industries driving the market.
6. What are the notable trends driving market growth?
Growing Demand for Retail Spaces in Thailand.
7. Are there any restraints impacting market growth?
Fluctuating economic conditions hindering the growth of the market; Difficulty in landownership and leasing rights affecting the market.
8. Can you provide examples of recent developments in the market?
February 2024: Central Retail Corporation, Thailand's leading retailer, set aside THB 22 to 24 billion (USD 613 to USD 669 million) for expansion in 2024.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Thailand Commercial Real Estate Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Thailand Commercial Real Estate Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Thailand Commercial Real Estate Industry?
To stay informed about further developments, trends, and reports in the Thailand Commercial Real Estate Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database



Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations

Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence