Bangkok, 25 November 2021 – One Bangkok Holdings Company Limited, a joint venture between TCC Assets and Frasers Property, announced today that 6 leading contractors have been appointed for the construction of the main building works of One Bangkok, Thailand’s largest integrated development in central business district and most comprehensive real estate project, with an investment value of over THB120 billion (exclusive of land cost). One Bangkok is envisioned to be a highly sustainable and smart lifestyle district development, with a “people-first” approach to create the best and most memorable experiences for all customers and visitors.
When fully completed, One Bangkok will comprise 11 towers and 4 retail podiums with a total gross floor area of 1.83 million square metres, designed by leading architects and designers.
The appointed contractors will be responsible for building the first phase of One Bangkok, which is set to comprise 8 towers and 3 retail podiums on a total gross floor area of 896,000 square metres, due to open in 2023. When combined with the 500,000 square metre substructure, the total gross floor area will be more than 1.3 million square metres. Their scopes of work are:
Mr. Panote Sirivadhanabhakdi, Group Chief Executive Officer of Frasers Property Limited, joint developer of One Bangkok, hailed another important milestone in the project.
“We are highly confident that by bringing together the best contractors to work on our Phase 1 superstructures, we will achieve excellent synergy to deliver impeccable quality of construction. We strongly believe in the unprecedented potential of One Bangkok as a global landmark for Thailand, attracting investors, business and leisure travellers from around the world, and a key driving force to help revitalize the country’s economy,” Panote said
“As a fully integrated mixed-use lifestyle district designed to world-class standards, we have selected these contractors for their expertise, reputation, and track record in world-class developments, as well as their international certification credentials in construction management, quality, and safety. Notwithstanding the challenges created by the pandemic, we have managed to maintain an efficient workflow and uninterrupted progress on the One Bangkok project. In fact, the project is expected to take a shorter time to complete than other world-class megaprojects of a similar scale. We strive to do our part, as Frasers Property, in promoting the country’s sustainable economic development and strengthening Bangkok’s regional leadership in the real estate industry,” he added.
“The scale and complexity in developing a mixed-use lifestyle district like One Bangkok requires industry-leading expertise, best-in-class comprehensive planning and management and quality control standards. All contractors and our development teams already have experience in constructing buildings to LEED standards (the world’s most widely used and prestigious green building rating system) and WELL certification (the leading global standard for advancing health and well-being in buildings). One Bangkok aims to be the first project in Thailand to receive the highest certified LEED platinum for Neighbourhood Development, and the WELL Building Standard for health and well-being of all occupants in our office buildings,” said Ms. Su Lin Soon, Chief Executive Officer - Development, One Bangkok.
“In addition, we are encouraging our contractors to incorporate sustainable construction practices on site. For example, we are incorporating innovations for a higher-quality build so as to reduce environmental impacts, as well as implementing a holistic construction waste management system” she said.
One Bangkok is Thailand's largest private property development project in the central business district jointly developed by TCC Assets (Thailand) Company Limited and Frasers Property Holdings (Thailand) Company Limited. When fully completed, the project will include 5 premium Grade A office towers, 4 distinct retail precincts, 5 luxury and lifestyle hotels and 3 luxury residential towers. A dedicated shared space for art and cultural activities and exhibitions will be part of the project. The total land area is 104 rai, or 166,400 square metres, located at the intersection of Witthayu Road and Rama 4 Road. The first phase of One Bangkok is scheduled for opening in the second half of 2023, with full completion expected in 2026.
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Notes to Editors:
About Frasers Property Limited
Frasers Property Limited (“Frasers Property” and together with its subsidiaries, the “Frasers Property Group” or the “Group”), is a multi-national developer-owner-operator of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”) and headquartered in Singapore, the Group has total assets of approximately S$40.3 billion as at 30 September 2021.
Frasers Property's multi-national businesses operate across five asset classes, namely, residential, retail, commercial and business parks, industrial and logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities and 20 countries across Asia, Australia, Europe, the Middle East and Africa.
Frasers Property is also the sponsor of two real estate investment trusts (“REITs”) and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties, respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.
The Group is committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on its people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It is committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and are invested in promoting a progressive, collaborative and respectful culture.
About TCC Assets (Thailand) Company Limited
TCC Assets (Thailand) Company Limited (TCC Assets), established in 2013, is a fully integrated property development company, with a registered capital of ten thousand million baht. It is part of the TCC Group, one of the most well-known companies in Thailand. TCC Assets' investment model focuses on creating added value to assets through product and service development. TCC Assets, subsidiary company, and affiliated company focus on the development of residential real estate projects, office building and retail space, along with hotel business and services related to IT.
For more information on TCC Assets, please visit www.tccassets.com