Businesses relocate outside occupied red shirt area in Bangkok
By Jon Fernquest
The
red shirts control a large part of downtown Bangkok (See map).Red shirt fortifications block entry into red shirt controlled areas and anyone entering these areas usually has to pass several checkpoints controlled by both the red shirts and the government (See photo of checkpoint).
In this environment it is impossible to do business normally and many businesses within the red shirt controlled area are seeking office space outside the area.
Today's article which begins after the vocabulary looks at this new trend.
relocate - move to
a new location
occupied - when people are present and fill up a place
fortifications, defenses - military constructions and buildings designed for defence in warfare and military conflicts (See Wikipedia) ป้อมปราการ
checkpoints - a place where cars or people passing through a place can be stopped and checked by police, military or some paramilitary` authority (See Wikipedia) ด่านตรวจ
office space - the square meters of offices rented out by companies
occupied - when people are present and fill up a place
fortifications, defenses - military constructions and buildings designed for defence in warfare and military conflicts (See Wikipedia) ป้อมปราการ
checkpoints - a place where cars or people passing through a place can be stopped and checked by police, military or some paramilitary` authority (See Wikipedia) ด่านตรวจ
office space - the square meters of offices rented out by companies
Economics
Temporary offices in demand
29/04/2010Temporary substitute offices outside the Ratchaprasong protest area are urgently needed to help companies continue their operation, says Jones Lang LaSalle (JLL), a real estate professional services firm.
We have received an increasing number of inquiries from companies in the Ratchaprasong area for temporary offices located outside the area," said Yupa Sathienpabayut, head of office leasing at JLL.
The people contacting us require fully or partly fitted office units that are immediately available at an affordable rent.
Though most office buildings have some space vacant after some tenants moved out or downsized operations, most of this space has been reoccupied, and thus cannot immediately accommodate more tenants.
demand
- the need and desire to buy goods and services by households and
businesses อุปสงค์
in demand - lots of people want to get it
temporary - for a short time only, short-term, not permanent ชั่วคราว
substitute - a person or thing that is used instead of another person or thing คนหรือสิ่งที่เข้าแทน
protest - when many people gather together in a place to make a strong complaint or express disagreement ประท้วง
urgently - needing to be dealt with immediately อย่างเร่งด่วน
Jones Lang LaSalle (JLL) - a major global real estate company with operations in Thailand (See website)
firm - company บริษัท
professional services - specialized services that require trained experts such as architects, dcotors, lawyers, accountants,... (See Wikipedia)
services - บริการต่างๆ things produced in service industries, not a physical good that can be bought, a waitress and a cook in a restaurant provide a service, technically: a sequence of activities that does not result in ownership of the outcome (See Wikipedia on services and the goods and services continuum)
inquiries - people asking about something
leasing - renting, allowing the use of something for regular payments of money
immediately - happening with no delay; right away ทันที
fully or partly fitted office units - offices with all necessary furniture (fully fitted) or just some furniture (partly fitted)
affordable - not expensive ไม่แพง
vacant - empty, when a building or a house has no one working, living in it, or renting it ที่ว่างลง
tenants - renters of land, apartment, office or other real estate ผู้เช่า
downsized operations - reduce the size of the business (reduce goods services produced, reduce workers and equipment used to produce it)
accommodate - to provide a place for someone ให้ที่พักพิง
in demand - lots of people want to get it
temporary - for a short time only, short-term, not permanent ชั่วคราว
substitute - a person or thing that is used instead of another person or thing คนหรือสิ่งที่เข้าแทน
protest - when many people gather together in a place to make a strong complaint or express disagreement ประท้วง
urgently - needing to be dealt with immediately อย่างเร่งด่วน
Jones Lang LaSalle (JLL) - a major global real estate company with operations in Thailand (See website)
firm - company บริษัท
professional services - specialized services that require trained experts such as architects, dcotors, lawyers, accountants,... (See Wikipedia)
services - บริการต่างๆ things produced in service industries, not a physical good that can be bought, a waitress and a cook in a restaurant provide a service, technically: a sequence of activities that does not result in ownership of the outcome (See Wikipedia on services and the goods and services continuum)
inquiries - people asking about something
leasing - renting, allowing the use of something for regular payments of money
immediately - happening with no delay; right away ทันที
fully or partly fitted office units - offices with all necessary furniture (fully fitted) or just some furniture (partly fitted)
affordable - not expensive ไม่แพง
vacant - empty, when a building or a house has no one working, living in it, or renting it ที่ว่างลง
tenants - renters of land, apartment, office or other real estate ผู้เช่า
downsized operations - reduce the size of the business (reduce goods services produced, reduce workers and equipment used to produce it)
accommodate - to provide a place for someone ให้ที่พักพิง
However, there are a few buildings that can cater to these temporary workplace requirements," said Ms Yupa. "These buildings have space that has not yet been reoccupied by previous tenants and they still have basic office facilities including internet access. Lease terms for these temporary offices are flexible.
JLL believes that in any case, many companies will require more efficient corporate real estate strategies, driven by a rising need for workplace security and staff safety in the future.
The company finds that the ongoing political unrest has already hurt the Bangkok office market, which earlier was expected to have bottomed out by the end of 2010. But the market now may require more time than previously expected, said JLL managing director Suphin Mechuchep
cater to - do
things to meet a need
facilities - special purpose equipment and buildings (for example, athletics facilities), buildings and equipment for an activity สถานที่และสิ่งอำนวยความสะดวก
access - the ability to get something สิทธิหรือโอกาสในการใช้
internet access - ability and oportunity to use the internet
flexible - can change (and adapt to each case)
terms - conditions; requirements, details and conditions in an agreement, contract, or arrangement ข้อกำหนด
lease terms - the conditions and rules that an individual renter must accept
flexible lease terms - the conditions and rules can be changed for individual renters
efficient - produces a lot from few resources, doing a task with no waste of time, money or energy
strategies - long-term plans for success in competition กลยุทธ
security - the activity of making safe or protecting from harm
staff - workers, employees พนักงาน
ongoing - currently happening, continuing อย่างต่อเนื่อง, ไม่หยุดยั้ง, ต่อเนื่อง
expected - believe will happen คาดว่า (จะเกิดขึ้น)
bottomed out - the worst already happened, won't get any worse
facilities - special purpose equipment and buildings (for example, athletics facilities), buildings and equipment for an activity สถานที่และสิ่งอำนวยความสะดวก
access - the ability to get something สิทธิหรือโอกาสในการใช้
internet access - ability and oportunity to use the internet
flexible - can change (and adapt to each case)
terms - conditions; requirements, details and conditions in an agreement, contract, or arrangement ข้อกำหนด
lease terms - the conditions and rules that an individual renter must accept
flexible lease terms - the conditions and rules can be changed for individual renters
efficient - produces a lot from few resources, doing a task with no waste of time, money or energy
strategies - long-term plans for success in competition กลยุทธ
security - the activity of making safe or protecting from harm
staff - workers, employees พนักงาน
ongoing - currently happening, continuing อย่างต่อเนื่อง, ไม่หยุดยั้ง, ต่อเนื่อง
expected - believe will happen คาดว่า (จะเกิดขึ้น)
bottomed out - the worst already happened, won't get any worse
The company's latest research indicates that take-up of grade A office in central business district edged up in the first quarter while no new supply was completed. As a result, the average vacancy rate fell from 18.9% in January to 18.5% in April. The average gross rent was relatively unchanged at 638 baht per square metre per month after falling 4% last year.
The ongoing political turmoil will eventually have a negative impact on the office market. Bangkok office demand is very reliant on the domestic economy so it could suffer from slow demand due to the ongoing political unrest during the second quarter," Ms Suphin said.
take up - people
purchasing (or here renting) something
edge up - increase by a small amount
quarter - one or more people who provide help, information or a particular reaction to something but who are not usually named
vacancy - a job that no one is doing and is therefore available for someone new to do ตำแหน่งว่าง
rate - the level or speed at which something happens or changes, or the amount or number of times it happens or changes in a particular period อัตรา
gross - total amount before costs or taxes subtracted off
turmoil - disorder and chaos การจราจล, ความปั่นป่วน
eventually - at the end of a period of time or at the end of a process ในที่สุด
negative - bad ที่เป็นด้านลบ
impact - an effect or influence ผลกระทบ
X reliant on Y - X depends on Y
domestic - within the country ในประเทศ, ภายในประเทศ
suffer - to experience physical or mental pain
edge up - increase by a small amount
quarter - one or more people who provide help, information or a particular reaction to something but who are not usually named
vacancy - a job that no one is doing and is therefore available for someone new to do ตำแหน่งว่าง
rate - the level or speed at which something happens or changes, or the amount or number of times it happens or changes in a particular period อัตรา
gross - total amount before costs or taxes subtracted off
turmoil - disorder and chaos การจราจล, ความปั่นป่วน
eventually - at the end of a period of time or at the end of a process ในที่สุด
negative - bad ที่เป็นด้านลบ
impact - an effect or influence ผลกระทบ
X reliant on Y - X depends on Y
domestic - within the country ในประเทศ, ภายในประเทศ
suffer - to experience physical or mental pain
(Source: Bangkok Post, Economics, Temporary offices in demand, 29/04/2010, link)
