Frasers Property Thailand sets to develop a new project in Silom,
Bangkok’s CBD, to be completed in 2022
Bangkok – 27 APRIL 2021
Frasers Property (Thailand) Public Company Limited or “FPT”, the first fully integrated real estate platform in Thailand, continues its growth momentum with a newly acquired building in Silom, Bangkok’s CBD, to strengthen the Commercial’s portfolio. This expansion is in line with the company’s growth strategy and its investment plan to secure sustainable revenue streams from recurring income business.
Pursuing a vision for sustainable growth of the Company, FPT is investing THB 1,800 million to acquire and develop a commercial property at Silom and Rama IV Junction on Silom Road, adjacent to Saladang BTS Station and Silom MRT station. The new leading mixed-use building will consist of office and retail space serving premium office location demands in the market. The Company plans to launch the project in Q4/2022.
This new mixed-used project offers 22 stories and 2 floors of basement parking totalling 49,602 sq.m. With additional assets under management (AUM), this investment will further strengthen the current commercial business’ portfolio of five leading commercial buildings (Mitrtown Office Tower, FYI Center, Goldenland, Sathorn Square and Park Venture Ecoplex) operated by Frasers Property Commercial (Thailand), Thailand’s leading commercial property developer and a wholly-owned subsidiary of FPT.
Mr. Thanapol Sirithanachai, Country Chief Executive Officer, Frasers Property Thailand, said: “With FPT’s vision to grow the Company sustainably, it enables us to seize this investment opportunity for the new project at the right time as a mean to enhance our commercial business’ portfolio. This expansion will further secure our source of recurring incomes which will give resilience to the company to thrive over any uncertainties in the future.”
Mr. Withawat Koottatep, First Executive Vice President of Commercial Development of Frasers Property Commercial (Thailand), said: “The new project will add 49,000 sq.m. AUM to the portfolio. Once completed, Frasers Property Commercial (Thailand) will have the total AUM of 260,000 sq.m. approximate, which will add more capabilities to generate recurring income for FPT. To ensure our continuing growth, we will remain our service-oriented property management with flexible solutions to serve our tenants and prospect demands.”
