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Bangkok Industry – Mixed-Use Projects set to Transform Capital

Bt200bn worth of projects expected to turn Bangkok into ‘city-lifestyle destination’ this decade by combining shopping, residential and office functions. New mega-property projects worth more than Bt200 billion combined in Bangkok are expected by observers to turn the capital into a city-lifestyle destination within Asean.  At least four developers have announced that major projects will be kicking off this year, and that they will be completed within five to seven years. The companies have been preparing the projects over the past two or three years.

Central Pattana is investing more than Bt10 billion to develop CentralWestGate in Bang Yai district. The project will comprise a shopping centre, condominium and office building.  The Mall Group has set aside Bt50 billion to develop six new shopping centres in Bangkok and the provinces. Three of them will be located in the capital, with one of the complexes – the Bt20-billion Bangkok Mall Bang Na – to be constructed at the Bang Na-Sukhumvit intersection.

Siam Piwat – the operator of Siam Centre and Siam Discovery Centre – in partnership with Magnolia Quality Development Corp and Charoen Pokphand Group, the joint owners of leading property projects, will develop a Bt50-billion mix-use project called IconSiam, on Charoen Nakorn Road.

Meanwhile, the State Railway of Thailand plans to open bidding for development of the Makkasan complex on 500 rai (50 hectares) of land worth Bt300 billion, located close to the Airport Link’s Makkasan station.  The planned project comprises an exhibition hall, retail area, entertainment complex, office building, serviced apartments and a luxury hotel.

Moreover, Ploenchit intersection in the heart of the capital also has property firms developing retail, condominium and office projects together worth more than Bt100 billion.  They include Central Pattana, which is developing Central Embassy on Ploenchit Road; Univentures, which is developing the Park Venture office and hotel building in the same location; and Noble Development and Sansiri, which are both developing condominium projects in the area.

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