The former land of Suan Lum Night Bazaar, at the intersection of Rama 4 and Wireless Road, will soon be called “One Bangkok”, the next largest real estate development of the private sector in Thailand and will be launched in 2021.
This abandoned land since the market closed in 2011 was a very relevant topic for investors in Bangkok. It is the billionaire Charoen Sirivadhanabhakdi, behind the Chang Beer group, which declared that they would invest 120 billion THB or more than 3 billion Euros to make the district the biggest development “multi-function” of Thailand. In comparison, the highest tower in Thailand – MahaNakhon – required 20 billion THB
Thus, Mr Chaoren will make One Bangkok a joint venture between two of its companies: TTC Assets Thailand Co., Ltd. And Frasers Centrepoint Limited. TCC will hold 80.1% of the shares and Frasers Property Holdings Co, real estate group, 19.9%
This major project will serve to make Bangkok “a key transit city in Asia,” said Charoen Sirivadhanabhakdhi, CEO of FCL, “One Bangkok aims to attract high-level local and multinational ASEAN companies to from their headquarters in Bangkok’s most prestigious business district.”
This 166,000 m2 plot will house different neighbourhoods, five luxury hotels, five office towers, three ultra-luxurious condominiums, several art and culture facilities, and 80,000 m2 of green space. It is expected 60,000 people to booth live and work there. All infrastructure should be completed by 2025.
A buoyant future for Bangkok, which is constantly modernizing and seeing its real estate market ever more dynamic, but also for Thailand, as a country that investors, expatriates and travellers alike need.