Old Suan Lum Night Bazaar: Huge centre planned

One Bangkok on 104 rai of land in downtown Bangkok slated to become largest private sector property development in Thailand with 2021 & 2025 the first & second stage opening dates.

PROPERTY DEVELOPMENT

Old Suan Lum Night Bazaar: Huge centre planned

3/04/2017
Online Reporters

A gigantic property development project named "One Bangkok" will soon rise up on the 104-rai of land that formerly housed Suan Lum Night Bazaar on the corner of Witthayu and Rama IV roads.

Liquor tycoon Charoen Sirivadhanabhakdi is developing a new mixed-use project on the site.

The development will be joint venture by two companies owned by Mr Charoen, TCC Assets (Thailand) Co and Frasers Centrepoint Limited (FCL).

LARGEST PRIVATE SECTOR PROPERTY DEVELOPMENT IN THAILAND

According to the company announcement, One Bangkok will be the largest private sector property development in Thailand.

The project has an estimated investment value of a least 120 billion baht.

It is promoted as a "new global landmark" with the first components to open in 2021.

WHAT WILL BE IN THE DEVELOPMENT?

One Bangkok will comprise office buildings and hotels, both 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 as well as art and culture facilities will be included.

50 rai of greenery and open space will also be included out of the total land area of 104 rai.

LAND LEASE SECURED FROM CROWN PROPERTY BUREAU IN 2014

TCC Group secured the lease to the land from the Crown Property Bureau in 2014.

The site was home to the old Suan Lum Night Bazaar from 2001 to 2011. The market was shut down after its lease expired.

WILL ENHANCE BANGKOK'S STATURE & HOST HEADQUARTERS FOR MULTINATIONAL COMPANIES

Mr Charoen, chairman of TCC Group and FCL, said the fundamental aim in the planning and design of One Bangkok was to enhance Bangkok’s stature as a key gateway city in Asia.

TCC Assets (Thailand) Co will hold 80.1% and Frasers Property Holdings (Thailand) Co 19.9%. Frasers Property is the international property brand of FCL, a multinational real estate company with more than 605 billion baht in assets.

Panote Sirivadhanabhakdi, group CEO of FCL, said One Bangkok aims to attract top-level local and multinational companies to set up their AEC corporate headquarters in the district as Bangkok’s most prestigious corporate address.

PROJECT TO BE COMPLETE BY 2025

Su Lin Soon, chief executive officer (CEO) of One Bangkok, said all components should be completed by 2025.

One Bangkok’s 1.83 million square metres of gross floor area will comprise five Grade A office towers, five luxury and lifestyle hotels, three ultra-luxury residential towers and a comprehensive array of retail offerings.

More than 60,000 people were expected to work and live at One Bangkok, she said.

http://www.bangkokpost.com/news/general/1226223/huge-centre-planned-for-site-of-old-suan-lum-night-bazaar

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