Mr. Sittichai Charoenkajornkul, President of Hydoo Best Group Ltd, revealed that the company was the result of an international joint venture between Hydoo Group, a major investment group listed in the Hong Kong Stock Exchange and No. 2 developer of new cities in China, and Best Group Ltd, experts from Thailand in logistics and property development. The JV is sponsored by W Venture Hong Kong, which specializes in fintech.
Trust City World Exhibition & Trade Centre is being developed under the JV as the most comprehensive, world-class hub for product exhibitions of AEC+6 and the largest fintech hub in the world. Trust City will become another landmark that Thais all over the country can look to with pride.
The complex will be situated at kilometer marker 29 on Theparat (Bangna - Trad) Road, spanning 500 rai (80 hectares). Trust City, valued at over 100 billion baht, will serve as the gateway between Thai trade and the rest of the world. It is expected to open its doors in 2020 and generate hundreds of billions of baht per year.
"Trust City was conceived on the idea of centralizing Thai trade, which is fragmented into various market venues such as Bobae, Pratunam, Sampeng, Phahurat, and Giant Swing. The trade centre would have to be convenient, comprehensive, and modern. It would allow Thai startups a chance to compete with counterparts from around the world by gathering both domestic and foreign products. For example, the fashion section would include not only clothes, but materials and textiles from leading brands with international standards, attracting buyers from around the world drawn to the singular shopping experience," Mr Sittichai said.
The operations of Trust City will be held to international standards to enhance international business partnerships and handle a range of trade activities. It aims to become a centre of AEC+6 with a wide range of product categories, from raw materials to semi-finished parts. Trust City will promote tourism and the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry. The MICE industry is a highly developed part of tourism in Thailand, bringing together businesses from all corners of the globe.
Trust City will be divided into 6 business zones over 2.5 million square meters, able to house 20,000 shops and 50,000 people. The zones are as follows:
1.World Exhibition Zone: Large, world-class products at 100,000 square meters
2.Permanent Exhibition Zone: Products from 20,000 producers and sales representatives. It has seven floors with a combined 800,000 square meters.
3.Hotel & Residence Zone: Accommodations and hotels with over 12,000 units for businesspeople and tourists. It will include a variety of services and recreational activities.
4.Global Factory Outlet Zone: Small products, services, and industrial equipment.
5.Fintech Hub & Business Hotel Zone: A distinctive landmark of the Suphan Hong Building, at a height of 168 meters. It will have a lookout point over the Gulf of Thailand. The zone will include a large, suspended meeting room, a 5-star hotel, "Fintech World," a gold market, restaurants, and a luxury product showcase.
6.Auto Town Zone: Concept car models, aftermarket accessories, and other related products
In addition, there will be venue space to host activities year-round, as follows:
? Super Walking Street: 40-meter-wide, 2,000-meter-long promenade for unique new products from across the world
? Water activities promoting Bangkok as the Venice of the East, including floating markets that exemplify Thai culture
Other conveniences include a parking lot for 30,000 cars, 2 light rails for easy internal transportation, and plans for external connections to Suvarnabhumi Airport, electric railways, and nearby commercial hubs such as Pattaya.
In addition to investors that are knowledgeable and experienced in developing new economic zones, logistics, and fintech, the strength of Trust City lies in its budget. Currently, it has 2.196 billion baht in registered capital and over 80 billion baht prepared for continued investment to adhere to its construction timeline. Trust City will give a new generation of businesspeople the opportunity to present their products to 10,000 producers from across the world. 2020 will be the year that all roads lead to Trust City, like a gateway for Thai trade to the rest of the world.