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Experience Luxury Living in an Unpararelled Area: Central Lumpini
June 14, 2024
Central Lumpini, a city center with high potential, is encircled by leading shopping malls, mass transit systems, lush parks and Grade A offices, embodying the “Finest Elements” of city living
Situated in the true heart of Bangkok, Central Lumpini is steeped in rich history and surrounded by a host of comprehensive amenities. These include 5-star hotels, shopping malls, premium restaurants, various embassies, Grade A office buildings for rent, lush parks, medical facilities and top-quality educational institutions. Its strategic location offers easy access to the BTS and MRT public transportation systems and servies as a unique central hub connecting key areas like Sukhumvit, Silom, Sathon and Pathumwan. This combination of factors has made Central Lumpini a highly desirable location for both locals and foreigners.
A location catering to every lifestyle
Delivering quality living and a truly worthwhile investment
A thriving city merits public spaces that are accessible to all, hence the birth of the well-known 'Lumpini Park.' As the first public park in Bangkok, it will celebrate its centennial anniversary in 2025. The area has been enhanced to accommodate a range of activities, from extreme sports fields and urban vegetable gardens to the Suan Lumpini Museum. Furthermore, the grounding wire provides a safe and secure route for electrical currents and expands the green space in the area. This supports new activities in this prime location, which is close to Rama 4 Road, Wireless Road, Sarasin Road and Ratchadamri Road. Spanning over 360 rai and with over 10,000 daily users, Lumpini Park is comparable to Central Park in New York City or Hyde Park in London.This location, reminiscent of Wall Street with its abundance of office buildings and world-class companies, is home to the country's tallest office buildings, such as One City Centre and the future mega project that will serve as a new landmark. This includes the tallest building in Thailand, the Signature Tower, located in the One Bangkok project.
Additionally, the area will soon welcome Dusit Central Park, a large mixed-use project that plans to unveil a hotel this year.
These developments promise to enhance the area's appeal and solidify its prestige as one of Bangkok's main hubs. Moreover, they will also significantly increase the land value in the area.
The comprehensive amenities, as previously mentioned, contribute to the area’s popularity, attracting a clientele with substantial purchasing power. This motivates developers to build luxury projects such as Grade A+ office buildings, shopping centers and residential projects. The location is particularly appealing for both leasehold condominium and freehold condominium projects for sale, with prices exceeding THB 300K per sq. m. for leasehold condominiums for sale and reaching THB 500K per sq. m. for freehold condominiums for sale.
According to CBRE residential transaction data 2023, residences in this area offer the highest return on investment (ROI) and compound annual growth rate (CAGR), with an ROI of 33.46%* and an annual growth rate of 13.68%* per year. In contrast, nearby locations like Silom-Sathorn, Sukhumvit and Rama 3 offers an ROI of approximately 25%-27%* and a growth rate of less than 10%*. Consequently, the Lumpini location has monthly rental rates for luxury and super-luxury condos as high as THB 1,415 per square meter*.
The Lumpini area is one of the areas with highest land prices.
Especially on Chidlom and Ploenchit roads, which consistently rank among the highest land appraisal prices in Bangkok.
The New Landmark in the Heart of the City, Updated in 2024
'Rama 4 Road' is a major thoroughfare offering views of Lumpini Park and passing through significant points of interest in Bangkok such as the Yaowarat walking street (China Town), Hua Lamphong, Chula-Samyan and Wireless Road. This prime location, close to both MRT Silom and BTS Sala Daeng stations, features a 360-rai plot at the intersection of Rama 4 Road and Lumpini Road. This is the site of the 'Dusit Central Park' project, set to open the 'Dusit Thani Bangkok Hotel' section in September 2024.
Dusit Central Park
Dusit Central Park is a large mixed-use development project in the heart of Bangkok, consisting of Dusit Thani Bangkok, The Residences at Dusit Central Park, Central Park Retail and Central Park Offices.
Dusit Thani Bangkok, opened in 1970, is a historic hotel that has been welcoming guests, both Thai and international for over 50 years. Recently renovated, it has been transformed into a large mixed-use complex, including the rebuilt 39-story Dusit Thani Bangkok Hotel. The hotel, originally 22 stories high with 517 rooms, now houses 257 spacious and elegant rooms designed by André Fu Studio, Asia's leading interior design studio. The architectural design is helmed by Architects 49 (A49), a respected Thai architecture firm, and OMA Asia Hong Kong Limited, a branch of the world-leading architecture firm OMA (Office for Metropolitan Architecture).
While preserving its historical essence, the hotel has retained art pieces and decorations from the original building. These include teak wood, stencil ceilings and murals from national artists, valuable items that ensure a traditional Thai aura is maintained amidst the newly added innovations. The hotel boasts an interior that includes more than 5,000 sq. m. of banquet space, the largest grand ballroom in Bangkok, a restaurant and multiple roof top bars. It also features a wellness center dedicated to promoting health care and relaxation.
Complementing the complex is “The Residences at Dusit Central Park project,” a branded residence that introduces two unique residential concepts, “Dusit Residences” and “Dusit Parkside.” These are housed within a 69-story residential building, offering 406 rooms in total.
‘Dusit Parkside,’ located on floors 9 to 29, showcases a contemporary design with 1-2 bedroom units ranging from 55-146 sq. m., ‘Dusit Residences,’ on floors 30 to 69, caters to those who prefer a classic style and prioritize privacy. These more spacious units, which range from 2-4 bedrooms and penthouses, span an area from 118-900 sq. m., and offer stunning views of the verdant Lumpini Park.
The complex also includes a shopping center (Central Park) and an office building for rent (Central Park Offices), and each structure has been carefully designed to offer garden views without obstructing those of the other buildings. A highlight of the project is the Roof Park, a sprawling green space of over seven rai or more than 11,200 sq. m., located atop the building offering views of Lumpini Park on the opposite side.
The unveiling of the ‘Dusit Central Park’ project promises to invigorate this location, transforming it into a vibrant new destination in the heart of Bangkok. With something to offer everyone, this project is poised to enhance the city experience. The hotel segment of this project is expected to be completed in September 2024.
'One Bangkok,' a large mix-used development project worth over THB 100 billion in the heart of the city
Another impressive mixed-use development project, valued at over THB 120 billion, is ‘One Bangkok’. Situated on a 108-rai plot at the intersection of Rama 4 Road and Wireless Road, this project is set to partially open at the end of 2024. It comprises five Grade A office buildings, including the 65-story Signature Tower, which could become the tallest office building in Bangkok.
The development also features three shopping centers, each with its own unique concept. The first, ‘Parade,’ is a nine-story center encapsulating the “Shop-Play-Work-Eat” concept, creating a fun space for the whole family. The second, 'The Stories,' is a five-story fashion and lifestyle hub designed to foster socializing and nightlife with the motto “Tell Your Own Story at The Storeys”. Finally, 'Post Nineteen Twenty Eight' is a five-story luxury center, with a “Go Beyond Luxury” concept, housing world-class flagship fashion, watch and jewellery brands, as well as leading fine dining restaurants from around the globe.
Accommodation options within the complex include the world-class 5-star Ritz-Carlton, Bangkok, the uniquely charming boutique hotel, Andaz One Bangkok, the fully serviced Fraser Suites Bangkok and three luxurious residential condominium buildings. These offer a high-end lifestyle on Wireless Road, boasting views of Lumpini Park and the Bangkok cityscape.
'One City Centre (OCC)' Thailand’s tallest office building in 2024
Rama 4 Road isn’t the only area of interest. Sukhumvit Road, adjacent to Ploenchit BTS station and in the heart of Bangkok's business zone, has recently seen the launch of a Grade A+ luxury office building. This project, known as One City Centre (OCC), an initiative by Raimon Land Public Company Limited and Mitsubishi Estate (Thailand) Co., Ltd., is the tallest in Thailand, with 61 floors or over 275 meters and 61,000 sq. m. of rental space. Valued at over THB 8.8 billion, the building offers spectacular views of Lumpini Park.
Beyond just an office space for rent, One City Centre also serves as a meeting space and business hub, catering to tourists and business professionals from around the world. The building hosts a variety of shops, bars, cafes and restaurants, including a rooftop destination, located on floors 58 and 61, featuring panoramic views of the heart of Bangkok, and 5,000 sq. m. of green space, both inside and outside the building.
'Gaysorn Amarin', a new shopping center in Gaysorn Village
Another noteworthy location near Ratchaprasong intersection on Ploenchit Road is 'Gaysorn Amarin,' a new luxury shopping center that opened in March 2024. This is the final project in the Gaysorn Village mixed-use complex, which consists of three buildings: Gaysorn Tower, Gaysorn Center and Gaysorn Amarin, all conveniently connected by a sky walk.
This project involved the renovation of the Postmodern-style Amarin Plaza, transforming it into a modern, luxurious destination to cater to upscale lifestyles, and is home to world-renowned brands like Louis Vuitton, Patek Philippe, Rolex, Tudo, PMT The Hour Glass, as well as Michelin-star restaurants and a comprehensive health care center.
The interior is divided into three zones: 'Raynue,' a socializing area showcasing exquisite food and drinks from experienced chefs, 'Forum,' a space for art exhibitions, fashion shows and events, and 'The Urban,' a retail space for sharing inspiration. The first floor features seasonally rotated fashion brands, while the third floor is a haven for craftwork from leading artists, making it a must-visit for art enthusiasts.
'Central Chidlom' to reveal a total new look nine
Adjacent to the Chit Lom BTS station, Central Chidlom, a department store established in 1974, has recently undergone major renovations worth an invested THB 4 billion. The goal is to create a luxury shopping center that caters to high-income individuals, all under the concept of ‘One-Stop-Shopping.’ With the BTS conveniently accessible from the 1st and 2nd floors, the store offers a spacious, luxury ambiance that presents world-class brands like Balenciaga, Bottega Veneta, Burberry, Celine, Chanel, Dolce & Gabbana, Fendi, Gucci, Louis Vuitton and more. Additionally, the location features more than 60 restaurants and cafes, a personal shopping assistant, a lounge and automated parking services.
The façade design, while maintaining the unique, original elements of Central Chidlom, has been updated to a more modern, trendier look, featuring white opaque glass that glows and changes color at night, adding vibrancy to the mall. The first phase of the luxury and fashion zone opened in April, with the entire store expected to be fully operational by December 2024.
Given these developments, it’s unsurprising that this area has emerged as a hub of ultra-luxury in Thailand and a bustling business center in Asia that operates around the clock. With its constantly evolving transportation and architectural landscape, it has significantly elevated the lifestyle and quality of life for many people, both Thais and foreigners. Tourists and businesspeople alike are drawn to the uniqueness of Thai culture that infuses this area. Despite being one of the most expensive locations in Thailand, its potential continues to attract those interested in upscale living and investment.
If you’re interested in residential property for sale in Central Lumpini, please contact CBRE or call +66 61 406 2999.