Bangkok (3 April 2017) – TCC Assets (Thailand) Co., Ltd. and Frasers Property Limited * (“Frasers Property”) will jointly develop 104 rai (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.
The project, called ‘One Bangkok’, is the largest private sector property development initiative undertaken in Thailand with an estimated investment value of over THB 120 billion (approx. US$ 3.5 billion). The project promises to become a new global landmark when its first components open in 2022
Mr. Charoen Sirivadhanabhakdi, Chairman of TCC Group and Frasers Property, 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 mixed-use district, which will comprise next generation office buildings, luxury and lifestyle hotels, a comprehensive array of retail and leisure offerings within differentiated precincts, ultra-luxury residential towers, a rich variety of civic areas, art and culture facilities, as well as 50 rai (8 hectares) of greenery and open spaces out of the total land area of 104 rai (16.7 hectares). The land, leased from the Crown Property Bureau, enjoys a prime location at the corner of Wireless Road and Rama IV Road with direct linkages to mass transit systems, right next to Lumphini Park.
Mr. Charoen said, “We are very 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 epicenter of ASEAN and a key gateway and lifestyle city in Asia, as well as bring great 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 – TCC Assets (Thailand) and Frasers Property. They are companies that perfectly complement each other and can, together, fulfill our shared vision of a quality development that will be greatly admired around the world,” Mr. Charoen noted.
One Bangkok will be developed by a joint venture between TCC Assets (Thailand) Co., Ltd., holding 80.1%, and Frasers Property Holdings (Thailand) Co., Ltd. (“Frasers Property”) holding 19.9%. Frasers Property is the international property brand of FCL, a full-fledged multi-national real estate company with more than US$ 17.6 billion (approx. THB 605 billion) in assets as at 31 December 2017. It has earned a reputation for developing successful large projects that are inclusive and contribute to the cities in which they are built.
Mr. Charoen said, “By forming such a strategic alliance, we are able to combine the financial strength and local know-how of TCC Assets, with the enormous international property development expertise of Frasers Property, which has an impeccable global track record of award-winning development projects.”
Mr. Panote Sirivadhanabhakdi, Group CEO of Frasers Property said, “The partnership will ensure that we have the creativity, capability and capital to bring to life one of our most exciting development initiatives.”
He added, “No single development of this scale and diversity has ever been undertaken in Thailand. One Bangkok will be a vibrant lifestyle destination that will entrench Bangkok's position among the most desirable cities in the world to live, do business, and to visit. One Bangkok 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.”
According to Mr. Panote, One Bangkok is exceptional because it is Bangkok’s first fully integrated ‘people-centric’ development that is designed around how people can seamlessly live-work-play, seeking to reinstate a sense of human scale in a way that enhances the comfort and convenience in people’s daily life.
“Because of the way the district is designed and laid out, and with the curated mix of offerings, people will discover how much more they can accomplish in a day, how much more they can enjoy the outdoors, and the variety of activities that they can fit into their time, all within a beautiful, clean, green, and safe environment.
Mr. Panote said, “We are designing in a way that prioritizes ‘the right thing to do’ in terms of urban planning. One Bangkok’s development philosophy is centred on diversity of uses and architecture, overlaid with sustainability principles. It will be sensitive to the local social and cultural context, incorporating Thailand’s heritage and aspects that are unique to Bangkok, to make the district an integral part of the city. It’s a place for everyone.”
He added, “One Bangkok’s development team is being led by Ms. Su Lin Soon, who is a highly reputed and experienced real estate professional. To support her, we have already assembled a world-class team of more than 100 specialist professionals from top Thai and international companies.”
Ms. Su Lin Soon, Chief Executive Officer of One Bangkok said, “In creating a world-class district in the heart of Bangkok, we envision One Bangkok to be synonymous with Thailand. New quality standards, international best practices and diversity in the mix of uses and architecture, are fundamental features of the master plan.The master plan combines both international and local experiences from the most influential architectural and
urban planning firms. We will create an active and vibrant community reflecting the lifestyle of 21st century Bangkok.”
She said, “When all components of the project are completed by 2025, One Bangkok’s 1.83 million square metres of gross floor area will comprise five Grade A office towers built to LEED* and WELL** standards, five luxury and lifestyle hotels, three ultra-luxury residential towers and a comprehensive array of retail offerings within differentiated retail precincts. Each component and building will have a distinct identity and positioning, giving the district a natural diversity in architecture, while retaining a common sense of community and seamless connectivity. More than 60,000 people are expected to work and live at One Bangkok.”
Ms. Su Lin added, “Accessibility, connectivity, and sustainability are top priorities in our urban planning. We have designed for direct connections to the city's mass transit systems, as well as easy access to the expressway network. Within the development, a comprehensive network of pedestrian-friendly circulation will ensure convenience and well-being of the people who work, live and play within this district.” She said, “One Bangkok will also be the first district in Thailand to be built entirely around sustainability principles and aims achieve LEED for Neighbourhood Development Platinum standards. We have reserved generous amounts of outdoor space – 50 rai (8 hectares) is set aside for green areas and open space out of the total land area of 104 rai (16.7 hectares). This includes a landscaped green promenade that is more than 40 metres wide, on both Wireless Road and Rama IV Road, that can be enjoyed as an extension of the city’s much-loved Lumphini Park. There is also a landscaped civic plaza of 10,000 square metres at the heart of the district, forming the core of an art and culture loop within the district that will be a place for all to enjoy, and a natural venue for international events and Thai festivals.
“A smart common infrastructure is being planned. It will include features such as district cooling, fully-centralized security, and energy management systems, designed to international standards for sustainable long-term business operations, future growth, efficiency and resiliency for the entire district. This common infrastructure is also future-proof, with pioneering ‘Smart City’ and business solutions that will enhance the experience of users in all components,” she added.