TCC Group and Frasers Centrepoint to Build US$3.5 Billion Integrated District in Bangkok City Centre

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TCC Assets (Thailand) Co., Ltd. and Frasers Centrepoint Limited (“FCL”) will jointly develop ‘One Bangkok’, Thailand’s first and largest fully integrated district built on people-centric principles and a focus on environmental sustainability and smart-city living. Out of the total land area of 16.7 hectares, the project has a generous allocation of 8 hectares of green and open space to the city centre. It promises to become a new global landmark when its first components open in 2021.

The project, called One Bangkok, is the largest private sector property development initiative ever undertaken in Thailand with an estimated investment value of approximately US$3.5 billion. The project promises to become a new global landmark when its first components open in 2021. Mr 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.”

One Bangkok is a fully integrated “city-within-a-city” district. When all components are completed in 2025, it will have a gross floor area of 1.83 million square metres, comprising five Grade A office towers built to LEED and WELL standards, five luxury and lifestyle hotels, three ultra-luxury residential towers, a comprehensive array of retail offerings within differentiated retail precincts, as well as a rich variety of civic areas, and art and culture facilities.

Eight hectares of its total land area of 16.7 hectares is dedicated to greenery and open spaces. The land is leased from the Crown Property Bureau and enjoys a prime location right next to Bangkok’s largest central park – Lumphini Park – with direct linkages to the city’s mass transit systems, as well as easy access to the expressway network.

Mr Charoen said, “We are honoured to be entrusted by the Crown Property Bureau to turn this important plot of land in the heart of the city into a showpiece district. It is a responsibility that I am privileged to carry and I affirm my commitment to ensure the creation of something exceptional and transformational.”

He added, “With One Bangkok, I hope to enhance global confidence in Thailand as the epicentre of ASEAN and a key gateway and lifestyle city in Asia, as well as bring prosperity to all associated with the project, whether as tenants, owners, or business partners.”

“To accomplish this game-changing endeavour, I have placed my confidence in two TCC Group companies that perfectly complement each other, combining the financial strength and local knowhow of TCC Assets with the enormous international property development expertise of Frasers Property,” Mr Charoen noted. He added that One Bangkok ‘s design will be sensitive to its social and cultural context, incorporating Thailand’s heritage, and make the district an integral part of the city. TCC Assets holds 80.1 percent, and Frasers Property Holdings holds 19.9 percent.

Ms Su Lin Soon, a real estate professional and Chief Executive Officer of One Bangkok, said, “Accessibility, connectivity, and sustainability are top priorities in our urban planning. New quality standards, international best practices and diversity in the mix of uses and architecture are fundamental features of the master plan, designed by Skidmore, Owings & Merrill. Supported by local expertise from Plan Associates, and A49, the master plan combines both international and local experiences from the most influential architectural and urban planning firms.”

She added, “One Bangkok will also be the first district in Thailand to be built entirely around sustainability principles and to LEED for Neighbourhood Development Platinum standards.