Largest commercial development ever undertaken by private sector in Thai history
Project to further enhance Bangkok’s appeal as top global destination
A sensational, Bht 35,000 million development that promises to unlock the beauty of the river and position Bangkok as one of the region’s most desirable destinations was announced today by a powerful partnership between Siam Piwat — the owner and operator of Siam Paragon, Siam Center, and Siam Discovery — and Magnolia Quality Development, together with the CP Group.
The project is set to be the largest and grandest commercial development ever undertaken by the private sector in Thailand. It was unveiled in a glamorous debut befitting a new icon for the city which promises to combine the ultimate in luxury lifestyle destination development with a breathtaking location on the Chao Phraya River.
Set on a spectacular 40-rai plot that is positioned at one of the most beautiful, central locations on the river, the development promises to become a dazzling destination within the city. It will include a rich combination of everything essential for 21st century living, outstanding retail facilities, and a magnificent residential condominium.
“This is a ‘once-in-a-century’ occasion”, said Mrs. Chadatip Chutrakul, CEO of Siam Piwat Co., Ltd.
“There is no other piece of land as beautiful, with a location that is so accessible — only five minutes from the Silom-Sathorn business districts — and that can be reached by boat from the river, or by BTS, and which is so large, has such an amazingly long 400-metre frontage, and is surrounded by so many five-star hotels. The river, literally, wraps itself around this plot. And to cap it all, there are two giant piers that effectively put the location physically into the river rather than just ‘by the river’,” she said.
According to Mrs. Chadatip, the development is being designed “first and foremost as a destination of inspiring natural beauty. And then, into that destination, is put the functional components — whether they be retail outlets or residences, or anything else for 21st century living.”
“Our sensational new undertaking represents a historic paradigm shift in the design of commercial developments in Thailand: it is now about ‘fulfilling your lifestyle needs at the place you have chosen to go for relaxation’,” Mrs. Chadatip said.
She said, “This land is blessed with a breathtakingly beautiful view and great business potential. It lies close to Bangkok’s central business district with the broadest reach to potential customers, whether they be Thais living along the north and south banks of the river who will have easy access by boat, or Thais andforeigners working and living in the business districts of Silom, Sathorn, Sampeng, Naradhiwas Rajanagarindra, as well as residents in the Thonburi and Rajapruek areas, and a large number of tourists staying at 5-star hotels all around the development. It is a really strategic location in western Bangkok.”
She said the emerging trend in differentiating a development is to leverage unique locations and to offer an extraordinary experience at that location.
“We are pioneering this new era in the design of such developments in Thailand, leaving behind the phase of ‘mixed-use’ developments and moving forward to what I call the era of ‘magnificent location’ developments.
“People will come to our project because of the exhilaration they will feel from being in a place that is not only naturally breathtaking, but also combines the essence of Thai culture and the spirit of the river with state-of-the-art architecture and systems, as well as a richness of retail and other offerings that will be unrivalled in Thailand,” she said.
Mrs. Chadatip added, “As part of that strategy, our project will help unlock the beauty of our city around the river, opening up one of the most wonderful parts of Bangkok. It will allow people to enjoy the river like never before. It will be designed to let a large number of people have easy access to the river’s wonders.”
“The river is something that is emotionally very powerful for every Thai. Throughout history, it has bound the country together, ensuring its fertility and facilitating its commerce. It has been a source of strength, of spiritual inspiration and an inseparable part of the rich fabric of Thai culture, and this project will allow people to reconnect and feel proud about those cultural roots,” she said.
“If this great river is the hand that has protected and nourished our nation for centuries, then this project will be the magnificent jewel on its finger, and it will dazzle anyone beholding it,” Mrs. Chadatip added.
Mrs. Tipaporn Chearavanont, CEO, Magnolia Quality Development Corporation Ltd., said, “This land, firmly placed at the centre of the city’s river life, has been lying full of untapped potential. It has witnessed the evolution of Bangkok and life along the Chao Phraya River for centuries. And it will now become a hugely sought after prestige address that is priceless, and one that proudly carries that heritage.”
She said that because of its size and its location, it will also help pump life into the city and re-energise Bangkok as well as enable lots more people to benefit from the waterfront.
“Which is why, now, as we prepare to enter the AEC in 2015, is the right time for us to bring this land to life, and to help it do what it should be doing for this city — revitalising Bangkok’s charm as a great city of the world,” she said.
Mrs. Tipaporn said, “We want to create a physical and an emotional landmark; not just another building or commercial venture, but something that can further enhance Bangkok’s stature in the region and the world; something that will become a new attraction in the city for both local and international visitors. That’s because we have seen that iconic landmarks on a city’s main river can move that city forward — whether in Paris, London, Shanghai or Sydney.”
“This project can help Bangkok capture an historic opportunity — one that will make it a top regional hub for tourism and business, increasing the flow of people and businesses into Thailand and helping to propel our economy upwards,” she added.
Mrs. Tipaporn said that Magnolia has placed a lot of emphasis on integrating sustainability into any project in which it is involved, so that communities and the environment are enhanced by its projects, and, as an example, she cited discussions that were already underway with the BMA on preserving the natural beauty of the surroundings.
“Our project will closely follow those principles, and an important riverside project such as this provides an opportunity for us to sensitively conserve what has made this river so special,” she said.
The partners said that they expect the project to reinforce foreign investor confidence in Thailand by showing the confidence that Thais have in the future potential of Thailand through such a large investment commitment.
“The project is a milestone undertaking in our country that will further enhance the stature of commercial developments in Thailand and place it on a global stage,” she noted.
According to Mrs. Tipaporn, the project will create employment for around 350,000 people during the next four years.
Project details are scheduled to be finalized and bookings for retail space taken at the end of this year, with construction to be completed in 2015.
For further information, please contact:
Siam Piwat Co., Ltd.: Sireetorn Niyomsen — tel: 02-658 1000 ext 234
Bangkok Public Relations Ltd.: Pairoj Pachanapreeda — tel: 02-664 9500 ext 115