FCL, Thai tycoon team up for $5b Bangkok property project

April 10, 2017 Thailand

Thai billionaire Charoen Sirivadhanabhakdi and Frasers Centrepoint (FCL) will develop the largest private sector development in Thailand, which is 16.7ha One Bangkok. This Bangkok property project will be located next to Lumpini Park in downtown Bangkok. The project will cost more than 120 billion baht (S$ 4.88 billion) and is expected to be completed by 2025.

Bangkok property project One Bangkok is expected to be completed by 2025 | Bangkok Property | Yazhou PropertyEvening city landscape at Lumpini Park, Bangkok Thailand

The 16.7ha One Bangkok project is a promising Thailand real estate investment. It will have five office towers, five luxury lifestyle hotels, and numerous leisure outlets. This Bangkok property will also boast of open spaces and 8ha of greenery.

“In an article published on Straitstimes.com, Mr. Sirivadhanabhakdi chairman of TCC Group and FCL said that “the fundamental aim in the planning and design of One Bangkok is to enhance Bangkok’s stature as a key gateway city in Asia.”

According to One Bangkok chief executive Soon Su Lin, they are expecting more than 60,000 people to work and live at One Bangkok.

TCC Assets (Thailand) and FCL’s unit will form joint venture company One Bangkok Holdings for this mixed-use development.  TCC Assets will hold 80.1% while Frasers Property Holdings (Thailand) will hold 19.9%. It will have an initial paid-up capital of 3 million baht. According to FCL, this joint venture is in line with their strategy to establish a presence in Thailand.

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