Both old and new office buildings in the Sathon area are visible from Naradhiwas Rajanagarindra Road. (Photo: Apichart Jinakul)

The earthquake on March 28 has heightened office tenant expectations, with many now placing greater importance on building safety standards and emergency preparedness, according to property consultancy Knight Frank Thailand.

Panya Jenkitvathanalert, partner and head of office strategy and solutions at Knight Frank Thailand, said although newer buildings command higher rents, the operational disruptions faced by older buildings such as lift outages, urgent repairs and structural assessments had a direct impact on business continuity.

"This pushed tenants to look beyond rent alone, weighing how landlords handle crises and day-to-day maintenance," he said.

"In this context, landlord performance has emerged as a key differentiator."

Mr Panya said some landlords have been proactive, communicative and supportive, while others have offered minimal engagement or delayed responses, reinforcing the importance of strong tenant-landlord relationships in real estate decisions.

Suwannee Mahanarongchai, managing director of property management firm Plus Property, said emergency management in buildings must prioritise both occupant safety and business continuity to ensure seamless operations during and after a crisis.

"Business continuity is at the heart of post-crisis recovery," she said. "Preparedness planning should include a systematic business continuity plan to handle unexpected situations and help tenants resume operations quickly and effectively."

For example, if a building is too damaged to use, there should be backup areas or temporary workspaces in place to keep business disruptions to a minimum, said Ms Suwannee.

Evacuation drills are also essential and should be conducted both during the day and at night when staffing levels vary, to ensure all personnel can respond effectively in any emergency scenario, she said.

"The key is to learn and adapt plans to suit each building type," said Ms Suwannee.

"What works well should be improved, while any weaknesses must be addressed without delay."

Mr Panya said there has been a clear shift in priorities, with tenant experience, crisis management capability, and building readiness becoming as important as location and rent.

"Landlords who can demonstrate strong day-to-day management and long-term commitment to safety and functionality will stand out in this competitive market," he said.

According to Knight Frank Thailand, 2025 should be pivotal for Bangkok's office market, with an unprecedented 524,000 square metres of new supply scheduled to enter over the remaining three quarters, assuming no further delays.

Grade A properties remain best positioned to capture demand due to their modern features and sustainability credentials.

However, rising competition will challenge all asset classes, with owners of old buildings facing increasing pressure to upgrade or reposition to meet tenants' growing expectations, noted Knight Frank.

In the first quarter of 2025, Bangkok's total office supply rose to 6.31 million sq m, with green-certified space reaching 2.1 million sq m, or 33% of total supply.

Net absorption tallied 31,000 sq m, lifting total occupied space by 1% to 4.89 million sq m, with green buildings driving demand.

The overall occupancy rate improved by 0.5 percentage points to 77.5%, supported by gains across all grades, especially Grade A, which rebounded by 2.1 points.

Market-wide rents edged up 0.3% quarter-on-quarter, with Grade A rents hitting a new high of 1,248 baht per sq m per month.

"The US tariffs raise uncertainty for export-driven and multinational tenants. These firms may adopt more cautious leasing strategies, slowing expansion plans and focusing on cost containment and flexibility," said Mr Panya.

He said landlords will need to adapt quickly -- not only through competitive pricing and features, but also by demonstrating reliability, resilience and responsive service in this more risk-sensitive leasing environment.