Raimon Land partners with leading Japanese real estate developer,
Mitsubishi Estate, on the development of “One City Centre.”
Raimon Land Public Company Limited (“the Company”), Thailand’s leading luxury real estate developer, announced today its partnership with leading Japanese firm, Mitsubishi Estate Co., Ltd. (“Mitsubishi Estate”), to invest and develop the “One City Centre (OCC)”. 
Situated in a strategic location right in the heart of the Bangkok’s CBD on Ploenchit Road, the prime grade office building development is worth over 8.8 billion baht, comprising of 5.5 billion baht for construction and 3.3 billion baht for land lease. The development is targeted to be completed by the fourth quarter of 2022 and revenue is expected to be realised by early 2023.
Mr Lionel Lee, CEO of Raimon Land, said: “I am delighted with the opportunity to collaborate with Mitsubishi Estate, one of the most prestigious real estate companies in Japan, to jointly develop the One City Centre project in the heart of Bangkok’s CBD. Raimon Land has delivered many successful luxury residential developments through working with established industry partners – and I am confident that our partnership model can be successfully replicated with our commercial projects.”
The One City Centre Development will contain 61 floors with an estimated total rental area of 61,000 square meters, with about 92% marked out as office space and 8% as retail area. The building is to be constructed on a prominent land plot on Ploenchit Road covering a total of 6 rai and 28 square wah of space. It will be directly connected to the Ploenchit BTS Station, and surrounded by a host of amenities including a leading shopping mall and five-star hotels. The company has registered a 30-year lease term with the Land Department and the Environmental Impact Assessment (EIA) report has been approved by the Expert Committee on Environmental Impact Assessment, Office of Natural Resources and Environmental Policy and Planning.
Mr Lee added: “The One City Centre Development will be the perfect location and solution for both domestic and international tenants. It will cater to both large corporates seeking to relocate and consolidate their existing dispersed leases, as well as accommodate small and medium-sized enterprises, by subdividing the floor plates into optimal sizes ranging from 84 sqm to 512 sqm”.
Mr. Yutaro Yotsuzuka, Managing Director of Mitsubishi Estate Asia Pte. Ltd., the ASEAN property development and investment arm of Mitsubishi Estate Co., Ltd. (JAPAN) said: “We are both proud and privileged to be able to participate and to contribute our expertise cultivated through the engagement of various large scale development projects, such as the Marunouchi district, to the One City Centre Project, a leading prime grade office development, which is sure to provide the most efficient and comfortable environment for both occupiers and visitors alike”.
