Transactions - APRIL 3, 2017

TCC Group to build $3.5b integrated district in Bangkok

by Released 4/3/17

Singapore-based TCC Assets Co. and its subsidiary Frasers Centrepoint will jointly develop 41 acres in the heart of Bangkok with an estimated investment value of approximately $3.5 billion.

The project, known as One Bangkok, will create Thailand’s first fully integrated district built on people-centric principles and a focus on environmental sustainability and smart-city living, according to TCC. The project promises to become a new global landmark when its first components open in 2021. One Bangkok dedicates 20 acres of its total land area to increasing green and open areas in the city-center.

One Bangkok is being developed by a joint venture, with TCC Assets Co. holding 80.1 percent and Frasers Property Holdings Co. holding 19.9 percent. The land is leased from Thailand’s Crown Property Bureau.

“Our vision is to create a place that people can love and want to spend time in, which everyone in the city will feel is an integral part of our city. Once completed, it will be a global landmark that will enhance Bangkok's and Thailand's stature on the world stage,” said Charoen Sirivadhanabhakdi, chairman of TCC Group, in a statement.

When all components are completed in 2025, it will have a gross floor area of 19.7 million square feet, comprising five class 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 variety of civic areas, and art and culture facilities.

“No single development of this scale and diversity has ever been undertaken in Thailand. One Bangkok will be a vibrant lifestyle destination that will affirm Bangkok’s position among the most desirable cities in the world to live, do business, and to visit,” said Panote Sirivadhanabhakdi, group CEO of Frasers Centrepoint, in a statement. “It will attract top-level local and multinational companies to set up their AEC headquarters in the district as Bangkok’s most prestigious corporate address, and their employees and visitors will enjoy an unrivaled ecosystem of facilities and lifestyle experiences available here.”

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