BANGKOK – One Bangkok project will be a major addition in creating a new Central Business District around Rama IV Road area, which have important existing buildings from Queen Sirikit National Convention Centre to Samyan area’s Samyan Mitrtown, said Panote Sirivadhanabhakdi, CEO of Fraser Property Ltd, on Wednesday.
Highlights include a 250-meter-long and 33-meter-wide pedestrian boulevard next to Lumpini Park, planted with golden trees that bloom every April and will attract people all year round.
Panote, speaking at Prachachat Business Forum 2024, added that One Bangkok project will not only be a smart city when opens late this year but will become an important part of Bangkok and Thailand, and placemaking project that inspires users with art installations, and more, dotting the group of mixed use buildings with two million square meters of space.
It will also be a green area that helps reduce the heat in the area. “It will be the heart of Bangkok as we built it with our hearts and it will be in the hearts of everyone,” Panote added.
The progress of the first phase of development, which is scheduled to officially open in October, includes 2 office buildings out of a total of 5 buildings. Additionally, 2 out of 5 hotels will be opened: Andaz Hotel and The Ritz-Carlton. There will also be 2 retail zones out of a total of 3.
The net leasable area totals over 160,000 square meters, with one of the areas being a tax-free shopping area of 5,000 square meters for the King Power Group. Furthermore, there will be 3 luxury residential buildings, along with parking spaces for 8,000 cars and over 40 buses.
The entire project complies with sustainable building standards and is the first in Thailand to receive LEED for Neighborhood Development Platinum certification as well as WiredScore Platinum and SmartScore Platinum, the first in the Asia-Pacific region. The project integrates advanced smart technology with WELL standards.
Panote expressed confidence about the investment because he believes Thailand’s real estate value still has plenty of room for growth. He compares it to Singapore, where real estate values are more than ten times higher, but the income potential is only about four times greater.
The Thai economy therefore has considerable potential for growth. The development of large office spaces in Thailand, together with government initiatives, has contributed to the success of the project. It has attracted new international companies to set up and expand their operations under the project.
Furthermore, the project has connected with public transportation, specifically the MRT Blue Line at 2 points. This is part of the ring transportation network that connects all of Bangkok and will link to the city’s growth towards the Thonburi side and the northern part, which has a denser population compared to other rail lines.
It is expected that an average of 90 million visitors per year, or around 250,000 per day, will visit the project once it opens. This includes around 50,000 people who work in the 5 office buildings every day, not including the tourists, hotel guests and shoppers who will undoubtedly attract businesses to set up in the project.
