120 Billion Baht ‘One Bangkok’ Mega Project Announced
The hashtag #onebangkok was trending on Twitter and other social media sites yesterday following the announcement by developers of the ‘One Bangkok’ project near Lumpini Park.
Six years after the eviction of the Suan Lum Night Bazaar, a development company announced plans yesterday to construct a cluster of office, residential and retail towers on the site which will be known as ‘One Bangkok’.
To be completed by 2025, ‘One Bangkok’ will be a mixed use space built on the former location of the popular market across from Lumpini Park at the intersection of Wireless, Rama IV and Sathorn roads.
The 104 rai - 166,400sqm - site will see the construction of five office towers, five luxury hotels, three ‘ultra-luxury’ condos and four retail spaces. Green space will cover 50 rai - 80,000sqm - of the land, with an open-air plaza and spaces for art exhibitions also included in the complex.
Construction of ‘One Bangkok’ will begin later this year, but don’t hold your breath – plans are to open in 2021 and fully complete the ambitious project by 2025. The entire project is budgeted at over 120 billion baht.
‘One Bangkok’ is being developed by TCC Assets Ltd., a developer owned by ThaiBev, which holds 80.1 percent of its shares. Frasers Property Holdings, a Sydney-based real estate company, holds the other 19.9 percent. The land is being leased from the owner, the Crown Property Bureau.
Further information about the development can be found here.