One Bangkok Secures Thailand’s Largest Green Loan of THB 50 Billion with Five Leading Financial Institutions
One Bangkok has announced the signing of a THB 50 billion long-term green loan agreement with five of Thailand’s leading financial institutions: Bangkok Bank, Bank of Ayudhya, KASIKORNBANK, Krungthai Bank, and Siam Commercial Bank.
This collaboration marks the first time five leading Thai financial institutions have jointly provided a green loan, representing the largest of its kind in Thailand. The loan will further reinforce the development and operation of One Bangkok, a new landmark in the heart of Bangkok, with a total investment value of THB 120 billion. Green loans are specifically designated to support environmentally friendly projects that contribute to economic and social sustainability. One Bangkok secured the loan based on its commitment to sustainability principles, encompassing design, construction, and management, with a focus on efficient resource and energy utilisation, minimising environmental impact, and creating value for the community and society.
Mr. Panote Sirivadhanabhakdi, Group Chief Executive Officer of Frasers Property Limited, said, “This landmark green loan agreement demonstrates the strong confidence held by these five leading financial institutions in One Bangkok’s potential. As a large-scale holistically integrated development, One Bangkok is poised to become a vibrant business and lifestyle destination, attracting significant investment and driving Thailand’s long-term economic growth. This agreement also reaffirms the commitment of TCC Assets and Frasers Property, as shareholders, to leverage their expertise and experience in developing this project as a model sustainable city, with a focus on efficient energy use, reducing greenhouse gas emissions, and promoting natural resource conservation to enhance the quality of life for people and society. This commitment is clearly demonstrated by the tangible and consistent achievement of project development milestones according to plan.”
This financial support underscores the confidence of the financial sector in the long-term potential of the Thai real estate market, particularly in high-quality green office buildings, retail, luxury residences, and the hospitality sector, driven by Thailand’s growth, both in the economy and in the tourism sector. This serves to reinforce investor confidence, both domestically and internationally. One Bangkok is poised to capitalize on this growth as a model green smart city in the heart of Bangkok, equipped with innovations to promote sustainable urban development. Recently, it became the first project in Thailand to achieve LEED for Neighborhood Development Platinum certification, as well as WiredScore and SmartScore Platinum certifications. It is also pursuing WELL Building Standard certification to promote the well-being, comfort, and safety of residents and occupants.
One Bangkok which opened its doors on October 25, 2024, features the retail spaces Parade and The Storeys, which are now both operational. POST 1928, will open in the next phase, whilst One Bangkok Forum, a world-class live entertainment arena, will open in December 2024. Two of the premium office towers, Tower 3 and 4, are currently operational and have attracted numerous leading Thai and international companies, with three more towers planned for subsequent phases. Luxury and lifestyle hotels include The Ritz-Carlton, Bangkok, opening in December 2024, Andaz One Bangkok, opening in 2025, and Fraser Suites Bangkok, expected to open in 2026, with another two hotels planned for later phases. The three luxury residential towers have received excellent responses from both Thai and international customers. Furthermore, the project features over 50 rai of green and open spaces, along with art and cultural programs, catering to diverse needs and enriching the overall lifestyle experience.
