Situated on approximately 17ha of prime land, the project was developed and is owned by TCC Assets (over 80%) and Frasers Property (just under 20%). The investment value of One Bangkok is THB120 billion ($7.37 billion).
The total gross floor area (GFA) upon full development is estimated at 1.83 million sqm to 1.93 million sqm.
To get an idea of One Bangkok’s location, it is bounded on the north by Wireless Road and the slightly west side of the development, and on the south by Rama IV Road, which runs alongside One Bangkok. Rama IV is the up-and-coming commercial corridor and lifestyle hub of Bangkok, as well as the Thai capital’s super core CBD. This is in part due to One Bangkok, along with other new developments such as Dusit Central Park, Samyan Mitrtown and Central Park Mall. Parts of One Bangkok overlook Lumpini Park. Its position in the Thai capital is similar to Central Park in Manhattan, it is one of the city’s green lungs.
Wireless Road, so named because the Saladaeng Radio Telegraph Station was located there, is the most expensive residential area in Bangkok. The history of the Saladaeng Ratio Telegraph Station is available at Wireless House, which is part of One Bangkok. The station’s 60m radio mast and artefacts from King Rama VI’s era were unearthed during the construction of One Bangkok and are now on display at Wireless House.
View of Lumpini Park from the Ritz-Carlton Hotel
Limited residential component
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Eventually, the development will have three upscale residential towers with a total of 800 units. The Prelude, a building that showcased One Bangkok to investors and tenants, is likely to be demolished and replaced with a residential tower.
Currently, only ONE89 Wireless (189 Wireless Road), located above the Ritz-Carlton Hotel, is the completed residential component, with 90 units sold without a launch. ONE89 Wireless has an unblocked view of Lumphini Park.
Despite the residential portion having a 60-year lease left, the average cost was around THB500,000 psm, half that of freehold residential properties in the Wireless Road area.
Wireless House
The higher-floor units in One Bangkok’s second residential tower, EI8HTEEN SEVEN (addressed as 187 Wireless Road), will have views of Benchakitti Park, while the other units will have city views. Benchakitti Park, like Lumphini Park, is one of the city’s green lungs and is full of joggers and runners in the early morning. The second residential tower is targeted to be launched at completion.
One Bangkok Tower, which aims to be Bangkok’s tallest tower, has yet to be developed and is likely to comprise office, hotel and residential components.
Mainly office
“One Bangkok is the largest mixed-use integrated development in downtown Bangkok. The office buildings are the dominant commercial component in the development. They, along with a handful of other recently completed office buildings in central Bangkok, have set a new standard for office space in the city,” describes CBRE Research Thailand.
Office is the largest asset class by net leasable area (NLA) within the integrated development. The five office towers will collectively deliver 500,000 sq m of NLA across five ultra-premium Grade A+ office towers upon full development. This averages approximately 100,000 sq m of NLA per office tower and represents a major source of supply. Only three office towers have been built; Tower 2, the fourth, is under development.
According to Colliers, in the next three years, the Lumpini-Rama IV corridor is expected to remain one of Bangkok’s most sought-after office submarkets, supported by strong tenant demand for newer, high-quality developments. Its relative advantage comes from limited new supply within the corridor, tenant relocations from older CBD locations, and premium specifications, connectivity, and integrated amenities that differentiate it from other areas.
“A significant share of the take-up has shifted toward the Lumpini-Rama IV corridor as occupiers migrate from traditional CBD locations. These tenants are increasingly willing to pay higher rents than in comparable CBD areas, choosing smaller but higher-quality office spaces in line with the continued flight-to-quality trend,” Colliers says.
View of Parade from Rama IV
“The Bangkok office market has seen over 1,000,000 sqm of high-quality office space completed in the last three years. The buildings have attracted strong interest from MNCs and large Thai companies. Many have taken the opportunity to relocate from buildings they have occupied for the last 15–20 years,” notes CBRE Research Thailand, in response to emailed questions from City & Country.
The advantage of an integrated development is that office workers can lunch and shop at the retail podium. MNCs can host their out-of-town visitors at the hotels and use them as Mice venues. Tenants and their employees can seamlessly live, work, shop and stay in one convenient location. One Bangkok’s office towers are seamlessly integrated with the rest of the development, including the Urban Park, with the office lobbies facing the park.
Office buildings around the Urban Park
One Bangkok has introduced initiatives to attract quality tenants. This includes a “Green Lease” model, which enables landlords and tenants to jointly set clear sustainability goals and guidelines to support sustainable practices and positive social and environmental impacts.
Space45, located on the 45th floor of One Bangkok Tower 4, is an exclusive common area for One Bangkok workplace members to relax, connect and socialise. Examples of activities include badminton, table tennis, pickleball, pool and other board games.
A collaboration between One Bangkok and CHANINTR, Thailand’s leading high-end furniture importer and retailer, introduces workplace solutions to the Thai market.
CBRE says “competition for tenants will force landlords to adapt in a tenant-friendly market influenced by both a flight to quality and demand for value-for-money accommodation.” However, because of rising vacancy rates, many existing buildings will need to lower asking rents and invest in upgrades to retain tenants and fill vacant spaces, it adds.
“Office landlords should evaluate their asset management strategies for the medium to long-term prospects of their buildings, given the increased quality and competition brought by this new building supply,” CBRE says.
In 3Q2025, office supply reached 10.2 million sqm, including 74,000 sqm of NLA in the non-CBD area. The overall occupancy rate declined from 79.3% to 79.0% in 3Q2025 as new completions outpaced net take-up. Net take-up totalled 16,815 sqm, driven by tenants occupying Grade A+, Grade A and Grade B buildings. The total net take-up across these three segments was 42,720 sqm, but the Grade B CBD submarket recorded the largest negative net take-up at 25,905 sqm, according to CBRE data.
To date, One Bangkok continues to attract MNC tenants. On Dec 1, 2025, One Bangkok announced that Agoda will occupy 26,000 sqm across seven floors of Tower 5 when it moves in in April, bringing Tower 5’s committed occupancy to 50%. Tower 4’s committed occupancy is 85%, anchored by Baker & McKenzie, Microsoft, KGI Securities, LG and UBS. Tower 3’s committed occupancy is 60%, anchored by NTT Data, H&M, BMW and EY.
When asked how One Bangkok has changed the office and commercial landscape in Bangkok, CBRE says: “One Bangkok is the largest mixed-use integrated development in downtown Bangkok. The office buildings are the dominant commercial component in the development. They, along with a handful of other recently completed office buildings in central Bangkok, have set a new standard for office space in the city.”
Retail and hospitality
The basement of the retail podium has a Mitsukoshi supermarket and the associated Depachika. Depachika is a Japanese food hall with high-end, sometimes gourmet food. Singapore has a version of it in the basement of Takashimaya.
In May 2024, Isetan Mitsukoshi and One Bangkok announced they were jointly participating in the “office and retail business of One Bangkok”. The opening was in October 2024. The Mitsukoshi Depachika” concept occupies around 4,600 sqm in basement 1 of Parade, comprising food outlets and the upscale Mitsukoshi Supermarket. To date, Mitsukoshi Depachika is the only depachika in Thailand. Mitsukoshi also has a stake in Tower 4.
The “Food Loop” with the concept of an “All Day, Everyday Dining Journey”, houses 250 dining options over a 1.5km stretch, ranging from fine dining restaurants to street food for which Bangkok is renowned, creating a one-stop destination suited to every palate.
The three interconnected retail experiences comprise Parade, The STOREYS (both already in operation) and POST 1928 (to open in the next phase), covering a NLA of 160,000–190,000 sqm. The office building lobbies, the retail podium and a concert hall all have entrances into the urban park.
When completed, One Bangkok will have five hotels, including Bangkok’s first Ritz-Carlton with 250 rooms, Andaz with 244 rooms, a Frasers Suites, a boutique hotel and an ultra-luxury hotel in One Bangkok Tower.
Beyond its size, One Bangkok was developed as an intelligent property with sustainable features. One Bangkok boasts a globally certified digital infrastructure. The office buildings and residential towers were awarded the WiredScore Platinum for digital connectivity and SmartScore Platinum for advanced smart technologies, a first in Southeast Asia.
Russell Kim, chief design and innovation officer of One Bangkok, says: “Our design philosophy is rooted in people centricity, sustainability and smart city living. We’ve woven nature, mobility and intuitive urban systems together so the district feels welcoming, comfortable and alive for everyone including residents, workers and visitors alike. This approach extends beyond physical structures, shaping a connected community where meaningful interactions and lasting traditions emerge within a resilient urban ecosystem designed to enhance quality of life today and in the future.”
Photos: FPL, The Edge Singapore
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