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"This is the largest office transaction in Bangkok's

history," Nithipat Tongpun, head of office services at CB Richard Ellis Thailand, the sole leasing agent for the new multi-use project, said yesterday.

The office building developed by the prestigious state university is located on Rama IV Road with direct access to the Samyan subway station.

The whole project has a 90,000square metre office building linked to a 22,300sqm retail podium and an apartment tower with 126 units.

"This letting is four times larger than any other office lease signed in Bangkok. This means that despite the global economic slowdown, vacancy rates for Bangkok's grade A central business district office market will remain low," he said. - The Nation

Betrend shines

The Mall Group's Betrend has achieved sales growth of 15 per cent in its first year of operation, outstripping the forecast of 10 per cent.

Saisawat Lertcharoensermsuk, general manager of Betrend, said Betrend is responding to the needs of consumers with its green marketing strategy.

The Mall will organise "Betrend Gift Fest '09: Happy Green Gift" to enhance consumer purchasing power by the end of the year.

The company expects the campaign to contribute 10 per cent of sales for the entire year. - The Nation

Auto cancellations

BASF is taking measures to avoid the creation of over-capacities as a result of a massive decline in demand.

The company is temporarily shutting down about 80 plants worldwide.

It is reducing production at about 100 plants, including for polystyrene and caprolactam. Scheduled maintenance work is being brought forward.

"We already drew attention to the difficult economic situation at the end of October. Since then, customer demand in key markets has declined significantly," Jurgen Hambrecht, chairman of the executive board of BASF SE, said yesterday.

"In particular, customers in the automotive industry have cancelled orders at short notice," he said. - The Nation