EXCITEMENT filled the air today (April 3) with the debut of what seems to be Bangkok’s largest integrated city-center project by TTC Group’s TCC Assets (Thailand) and Frasers Centerpoint Limited (FCL) companies.
Called One Bangkok, this massive private sector initiative involves an investment of 120 billion baht (approximately 3.5 billion US dollars) with the first components to open in 2021.
The 104-rai (16.7 hectares) city-center plot is located at the corner of Wireless and Rama 4 roads right next to Lumpini Park and has been leased from the Crown Property Bureau.
With the aim of creating a fully integrated “city-within-a-city” district, the large-scale scheme will comprise next generation office buildings, luxury and lifestyle hotels, a comprehensive array of retail and leisure offerings within differentiated precincts, ultra-luxury residential towers, a rich variety of civic areas, art and culture facilities, as well as 50 rai (8 hectares) of greenery and open spaces.
The joint venture undertaking has TCC Assets (Thailand) Co., Ltd. holding 80.1% of the shares and Frasers Property Holdings (Thailand) Co., Ltd. (“Frasers Property”) holding 19.9%.
Frasers Property is the international property brand of FCL, a full-fledged multi-national real estate company with more than US$ 17.6 billion (approximately 605 billion baht) in assets. It has earned a reputation for developing successful large projects that are inclusive and contribute to the cities in which they are built.
Charoen Sirivadhanabhakdi, chairman of TCC Group and FCL, said, “The fundamental aim in the planning and design of One Bangkok is to enhance Bangkok’s stature as a key gateway city in Asia.
“To accomplish this game-changing endeavor, I have placed my confidence in two TCC Group companies – TCC Assets (Thailand) and Frasers Property. They are companies that perfectly complement each other and can, together, fulfill our shared vision of a quality development that will be greatly admired around the world.”
Meanwhle Panote Sirivadhanabhakdi, Group CEO of FCL said, One Bangkok is exceptional because it is Bangkok’s first fully integrated “people-centric’ development that is designed around how people can seamlessly live-work-play, seeking to reinstate a sense of human scale in a way that enhances the comfort and convenience in people’s daily life.
He added, “One Bangkok’s development team is being led by Ms Su Lin Soon, who is a highly reputed and experienced real estate professional. To support her, we have already assembled a world-class team of more than 100 specialist professionals from top Thai and international companies.”
Ms Su Lin Soon, Chief Executive Officer of One Bangkok said, “When all components of the project are completed by 2025, One Bangkok’s 1.83 million square meters of gross floor area will comprise five Grade A office towers built to LEED and WELL standards, five luxury and lifestyle hotels, three ultra-luxury residential towers and a comprehensive array of retail offerings within differentiated retail precincts. Each component and building will have a distinct identity and positioning, giving the district a natural diversity in architecture, while retaining a common sense of community and seamless connectivity. More than 60,000 people are expected to work and live at One Bangkok.”
Top: An artist’s rendering of the massive One Bangkok project.
Inset: TCC Group executives cheer at the debut of their exciting project today.