Urbanisation and economic growth means that Asia Pacific leads the way in terms of significant real estate developments. In fast-growing cities such as Bangkok, Jakarta and Mumbai, gleaming real estate projects are launching and completing in 2025.

As part of our series of Outlook 2025 articles, Prospects profiles some of the most interesting and significant new developments around the region.

Waterstones Business Park, Brookfield Properties, Mumbai

India is building some of the world’s most impressive business space in its major cities and Brookfield’s Waterstones Business Park (pictured top) is one of the most significant.

It is an integrated mixed-use, 9 acre campus, with 2 million square feet of green space. As well as workspaces, the development boasts managed residences and an exclusive club managed by luxury hotels group The Leela. With 1.4 million square feet of office leasable area, it offers some of the largest and most efficient floorplates in the country.

Located close to Mumbai International Airport, Waterstones is the first institutionally owned development in this location, meaning its successful leasing will be an important step for this sub-market. Quoted rents of INR250 per square foot per month are substantially above the market range of INR125-180.

One Bangkok

There are many mega-projects to choose from in Bangkok, which is building some of the most impressive real estate in the region. Projects such as Cloud 11, which will feature a “Creator Village” to drive growth in the creative industries, and CU Block 33, a sustainable urban village, are at the cutting edge of development.

However, the grandest project is perhaps One Bangkok, which opened at the end of October, although a number of elements, including two of its three hotels, are yet to come onstream. The $3.2 billion development is set to become Thailand’s largest integrated district and the first to pioneer green leases in its office towers. Office Tower 5 opens for leasing this year, with Towers 3 (80% leased) and 4 (30% leased) still not fully let.

Mandiri Financial Centre, Jakarta

Indonesia is another market with ambitious development plans, not least the government’s ongoing project to relocate the administrative capital away from crowded Jakarta.

Mandiri Financial Centre is itself in a new urban location, although still part of Jakarta. The Pantai Indah Kapuk (PIK) area is a new urban location and PIK 2 is set to become a new financial centre for the city. The Mandiri Financial Centre, which had its groundbreaking in November, will be crucial to the success of the PIK 2 district as a new financial hub outside the Jakarta CBD.

Further reading:
Savills Asian Cities Report H2 2024

Contact us:
Simon Smith