Dusit Thani, Central Pattana to invest $1.2 billion in Bangkok mixed-use project

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Dusit Thani, Central Pattana to invest $1.2 billion in Bangkok mixed-use project

 

FILE PHOTO: Women walk past a sign of Dusit Thani Hotel in Bangkok, Thailand April 10, 2018. REUTERS/Soe Zeya Tun

 

BANGKOK (Reuters) - Thai hotelier Dusit Thani and mall operator Central Pattana are investing 36.7 billion baht ($1.16 billion) in a mixed-use project in Bangkok's central business district of Silom, the companies said in a statement.

 

The project will cover 440,000 square metres and include hotel, office space and retail space. The project is expected to be completed in 2024.

($1 = 31.6900 baht)

 

(Reporting by Chayut Setboonsarng; Editing by Muralikumar Anantharaman)

 

-- © Copyright Reuters 2019-04-01

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Dusit, Central Pattana join hands

By SOMLUCK SRIMALEE 
THE NATION

 

A perspective of the Dusit Central Park project.

 

HOTEL AND property development firm Dusit Thani Plc and retail and property developer Central Pattana Plc are collaborating to develop a mixed-use project, Dusit Central Park, at a cost of Bt36.7 billion.
 

The project will cover 440,000 square metres on the intersection of Silom and Rama IV Road in what was once the location of Dusit Thani Hotel. The project is expected to be complete in 2024.

 

The project brings together luxury residences, a state-of-the-art office tower, a high-end shopping complex with a large rooftop park and a distinctive reimagining of Dusit Thani Bangkok hotel, Dusit’s iconic flagship property, which served as a symbol of Thai hospitality for 50 years.

 

“We aim to deliver a one-of-a-kind mixed-use project that blends heritage and innovation, connects all important infrastructure and transportation, embraces a green concept reflecting our prime position opposite Lumpini Park, and delivers enduring value to all our stakeholders,” Dusit Thani Plc group chief executive Suphajee Suthumpun said at press conference yesterday.

 

She added that the project, designed under the concept “Here for Bangkok”, reflects four key pillars: heritage and innovation, where cultural legacy is put into practice; unrivalled connectivity, highlighting Dusit Central Park as a one-of-a-kind mixed-use project in Bangkok connecting all important infrastructure; lush quality of life, where people will get close to nature at Lumpini Park through the lungs of Bangkok, as well as city vibrancy all day and night; and meaningful experiences, where new experiences of modern living reconnect with local communities and green space.

 

Central Pattana Plc’s deputy chief executive officer, Wallaya Chirathivat, added that Dusit Central Park is expected to open in three phases. 

 

The first one would be Dusit Thani Bangkok Hotel. Designed to preserve the rich architectural and artistic heritage of the original hotel, the new 39-storey, 250-room Dusit Thani Bangkok will feature a modern-yet-familiar design that incorporates significant elements from the original hotel.

 

The second phase will be commercial space. Central Park Offices, with 90,000 square metres, will aim to become a professional hub, providing the ultimate in technology for city workers where connectivity is the priority, suitable for innovative startups and large companies. There will also be a Central Park Shopping Complex that will offer a luxury retail experience. 

 

The shopping mall will feature iconic international and local brands over 80,000 square metres to meet the needs of various lifestyles. 

Also topped with a rooftop park, the shopping complex will provide an expansive outdoor leafy retreat for people to unwind. 

These two elements will be completed in 2023.

 

The final part of the project will be the residences. The 69-storey tower with 389 units will be divided into two distinctive sections – Dusit Residences and Dusit Parkside – each managed by Dusit International in line with its unique brand of Thai-inspired gracious hospitality. 

 

Dusit Residences will comprise 159 luxurious, spacious units on the uppermost floors of the building, offering panoramic views of Lumpini Park.

 

 It is designed to provide a luxury standard of living for Bangkok-based executives or travelling executives who regularly visit Thailand, as well as middle- to large-sized families seeking maximum comfort and convenience. 

 

Dusit Parkside, meanwhile, will comprise 230 contemporary-styled units, also offering views of Lumpini Park, and are aimed at small-sized families as well as city workers seeking a stylish home in the heart of the capital. 

 

Units for both Dusit Parkside and Dusit Residences will be available for long-term rent or leasehold. Booking will open soon, Wallaya said.

 

Source: http://www.nationmultimedia.com/detail/Real_Estate/30366960

 

 -- © Copyright The Nation 2019-04-02