The buildings come with a total investment of Bt285.2 billion.

Among the future properties in the location – from Lumpini Park to Klong Toei, is the Bt120-billion One Bangkok by TCC Asset and the Dusit Central Park, which covers a total space of 440,000 square metres at an investment of Bt36.7 billion by Dusit Thani Plc and Central Pattana Plc.

Other properties to rise in the area include the FYI Center Building on Rama IV Road, designed with a focus on energy conservation and the environment.

With an investment of Bt8.5 billion, Golden Land Property Development Plc will develop Sam Yan Mitr Town as TCC Asset plans another green project in the proximity, the Bt20-billion PARQ near the Queen Sirikit National Convention Centre.

Having received a TREE certification from Thai Green Building Institute, Ananda Development will develop Ideo Mobi, a condominium project.

TCC Asset’s One Bangkok is the first project in Thailand to have received a Platinum certification for Neighbourhood Development from LEED (Leadership in Energy & Environmental Design).

Its architecture and landscape design respond to the tropical climate and ecology, utilising sustainable approaches and technologies to significantly reduce energy expenditure and water consumption.

The master plan by Thai architecture firm Architects 49 in collaboration with Skidmor, Owings & Merrill LLP (SOM) and Plan Association, centralises the energy and water-management systems to optimise efficiency and anticipate future growth. The use of green space and permeable materials will retain rain water onsite to reduce runoff and facilitate absorption to help replenish groundwater resources.

The project is a presentation of a fully-integrated “city-within-a city” district under the concept of sustainable and smart living. It is located in the heart of Bangkok on the site of the former Suan Lum Night Bazaar with over 1.83 million square metres of land.

It will be known as an epicentre of modern living in Asean, meeting the Platinum standard of LEED Neighbourhood Development and the standard of US’ International WELL Building Institute – featuring hotels, residential buildings, office towers and retail spaces within a district, according to Architects 49.

Meanwhile, Dusit Thani Plc and Central Pattana Plc have teamed up for Dusit Central Park, a Bt36.7-billion mixed-use project under the green concept, it was announced last week.

Wallaya Chirathivat, deputy CEO of Central Pattana Plc, said the project focuses on the need for a large, green area in view of visitors’ preference to stay close to nature and follows the trends of energy efficiency.

Dusit Central Park will connect four Bangkok neighbourhoods in four directions – Ratchaprasong (north), Charoen Krung (south), Sukhumvit (east), and Yaowarat (west) – creating a new junction where old meets new, and financial meets commercial. This seamless connection responds to both business and lifestyle needs, she said.

The project is expected to be completed in 2024.

Meanwhile, the state-owned Port Authority of Thailand (PAT), is developing 2,353 rai on Klong Toi port under a five-year master plan (2019-23). It plans to combine the port and commercial areas for development with an investment of Bt100 billion.

The plot will be divided into zones for various purposes with the port and Customs department area occupying 943 rai; area for port service, 118 rai; state-owned area,160 rai; rental area for state units, 160 rai; commercial area for rent by the private sector, 313 rai; rental area for social activities, 203 rai; residential area, 198 rai; and a 200-rai transport hub.

All structures on the plot will be built under the green concept, said a source from the port authority.

Following completion of the mixed-use projects in 2025, Rama IV and the central business district in its proximity will become a landmark of green architecture in Bangkok, said a property expert.

In Thailand, the Thai Green Building Institute website shows 108 buildings applied for its certification with 36 having been certified under the silver, gold and platinum categories. The criteria for certification covers a projects’ design, construction process as well as energy sources.

In line with the trend, certification for well-being was initiated by the US’ International WELL Building Institute with an emphasis on the wellness of people residing in a building, in terms of air and water qualities, lighting, fitness, ease of mind and convenience through innovations. It reported that 1,602 projects from 50 countries had applied, with 159 buildings having been certified.

Eric Lee, head of JLL’s Greater China Property and Asset Management business, said that in recent years, eco-friendly skyscrapers had been gaining traction, noticeably in China, as governments tackle rapid urbanisation and its impact on the environment. “While tall structures typically served as landmarks, they are also increasingly used to showcase businesses’ corporate environmental responsibility,” Lee says.

“Many project owners and developers seek green accreditation such as LEED [Leaders in Energy and Environmental Design] in order to attract businesses that are on the path to sustainability,” he says.

Yet sustainable designs aren’t just doing their part for the planet. Occupiers are increasingly demanding a green working environment, according to Daniel Safarik, an editor at the Council on Tall Buildings and Urban Habitat (CTBUH) and JLL.

Aliwassa Pattanathabut, managing director of CB Richard Ellis (Thailand), says office tenants now increasingly prefer LEED (Leadership in Energy and Environmental Design)-certified buildings which have completed LEED-certified interior fit-outs.

Multinational companies such as Citibank, Unilever and L’Oreal have all undertaken LEED fit-outs of their Bangkok offices, and all new Starbucks retail branches will have LEED-certified interiors.

Many Thai companies have also completed LEED-certified fit-outs and Kasikornbank achieved LEED CI v2.0 Gold certification in 2011 for its Phaholyothin headquarters project.

A number of office buildings with LEED Core and Shell certification already exist in Bangkok. Park Ventures and Energy Complex have achieved LEED Platinum status, and Sathorn Square and the recently completed AIA Capital Centre have both secured LEED Gold certification, she said.

Although, the cost of constructing a green building under LEED is higher by 10-20 per cent, depending on whether Silver, Gold or Platinum certification is being sought, it can charge higher rents, she said.

For example, FYI Center is able to set rents at 10 per cent above the average rate for the area around Rama IV Road.

But it presents a challenge in terms of cost for both domestic and multinational firms wishing to rent space in a certified green building, she added.

Aliwassa said not only can new buildings be certified, older buildings could be updated and renovated to achieve green-building status.

This would offer more choices for companies seeking rental space at a time when the country is striving to become the hub for corporate headquarters in the Asean Economic Community, she said.

“Most multinational firms expanding their investment in the region have a policy to rent green office space. Office owners should follow the trends for more business opportunities and higher income in the long term,” she added.