New Rama III Mixed-Use Development To Be Launched

14 ก.พ. 2561

New Rama III Mixed-Use Development To Be Launched By Country Group

Country Group Development announced that it will launch a new mixed-use project in the Rama III area of Bangkok this year, reports local media. The new development is worth over THB15 billion and sits on a 23 rai plot of land along the Industrial Ring Road. The company acquired the land in 2017

This is the 1st project to be launched by Country Group Development since 2014 when the company unveiled the Four Seasons Private Residences Bangkok at Chao Phraya River. The luxury condo development is part of the Chao Phraya Estate along Bangkok’s riverfront area.

“We focused on the riverfront project during the past four years as it is huge and the luxury segment requires attention to detail. This luxury project will be a turning point in our financial potential,” says Country Group Development Chief Executive Ben Taechaubol to the Bangkok Post.

The 305-metre tower is one of the tallest buildings in Bangkok and will have a total of 355 residential units when completed. The company has sold 70 per cent of the units at the development and construction is expected to conclude later this year. The project will help the company earn THB5 billion by the end of 2018 which is up from around the THB900 million it made last year.

Country Group Development is also the leading investor in The Chao Phraya Estate project having worked with Beijing Construction Engineering Group on the THB31.9 billion development. The project will have the Four Seasons Hotel Bangkok and Capella Bangkok, an upscale hotel.

Capella Bangkok is projected to open in the 4th quarter of this year while the Four Seasons will open early in 2019. Country Group Development is also looking to launch a retail project in Chachoengsao as it looks to capture the growth of the Eastern Economic Corridor.

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