April 10, 2017
TCC Group to build US$3.5 billion integrated district in Bangkok
TCC Assets (Thailand) Co Ltd and Frasers Centrepoint Limited will jointly develop 16.7 hectares in the heart of Bangkok into one of the world's "must-visit" destination city districts. The project will create Thailand's first fully integrated district that is 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. When all components are completed in 2025, it will have a gross floor area of 1.83 million square metres, comprised of 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, and 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.
One Bangkok is being developed by a joint venture between TCC Assets (Thailand) Co Ltd, holding 80.1%, and Frasers Property Holdings (Thailand) Co Ltd holding 19.9%. The land is leased from the Crown Property Bureau.
Ms Su Lin Soon, a highly reputed and experienced 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."