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Thai Billionaire to Build a US$3.5 Billion Property in Bangkok

The richest man in Thailand, Charoen Sirivadhanabhakdi, has revealed his plans of investing US$3.5 billion into a mixed-use development in the central part of Bangkok. The complex will include shopping malls, hotels, restaurants, office space, and more.

The project named One Bangkok is being developed by TCC Group owned by Charoen and Singapore-based Frasers Centrepoint Ltd. According to Panote Sirivadhanabhakdi, who is group chief executive officer at Frasers, this is going to be the biggest mixed-use development in whole Thailand. One Bangkok will be located in the area of 16.7 hectares. They hope the complex will become a new popular landmark of Thailand and once open, it will provide space to headquarters of large global companies.

It is known that land for the project is leased from Crown Property Bureau. The first stage of One Bangkok is set to open already in 2021. The majority of the development’s stakes, 80.1%, belong to TCC Assets Co, and the remaining stakes are owned by Frasers Property Holdings. One Bangkok will be completely finished in 2025. The 1.83 square meter complex will include five towers intended for offices (Grade-A), five luxury hotels, three separate towers for ultra-luxury residences, numerous outlets, boutiques, and dining facilities.

30.04.2017

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