The banks of the Chao Phraya River in Bangkok are buzzing as property developers have been busy buying land on both banks.
According to recent research from property developer Raimon Land the unrelenting pace of urbanisation in the Thai capital has led to a surge in demand for prime waterfront locations for residential, commercial and hotel projects, transforming specific riverside areas into genuine 5-star neighbourhoods.
The Chao Phraya’s riverfront – especially along Charoen Krung and Charoen Nakhon roads – is where history and modernity meet.
Charoen Krung is Bangkok’s oldest road which runs roughly parallel to the Chao Phraya itself. First built in 1862 under King Rama IV, Charoen Krung was designed in response to requests from diplomats of the time, who sought the refreshing river breeze and required a street suitable for horses and carriages.
Today, the Charoen Krung neighbourhood is the site of many top-notch hotels and stretches to one of the city’s successful open-air malls, Asiatique. Its meteoric rise as a major shopping and entertainment landmark has triggered the development of a second Asiatique project on the ‘West’ (Thonburi) side of the Chao Phraya – complete with an ambitious cable car system that will eventually connect the two.
Joining Asiatique along the river’s path is a wave of exciting ventures. On the ‘West side’, a new mixed-use megaproject on 40 rai of freehold land will soon take shape next to the Millennium Hilton, co-developed by Siam Piwat (the company behind luxury retail giant Siam Paragon), and Magnolia Quality Development – the property arm of the CP Group.
Right beside The Peninsula Bangkok, the world’s first Peninsula branded residences are also said to be on the drawing board, and adjacent to the Anantara Riverside Hotel will emerge the first Avani hotel in Thailand to be built by the Minor Hotel Group.
On the ‘East’ (Bangkok) side of the river, listed developer The Country Group has recently announced plans for its flagship property, Landmark Waterfront, next to Chatrium Hotel. This ambitious development will comprise several projects: The Capella Bangkok – featuring a luxury hotel, a residential tower and a series of waterfront villas – plus the 5-star Jumeirah Hotel and Residences. It will be launched by the award-winning Dubai-based hotel chain, and will be joined by the Menam Riverside Compound, one of the first anchor developments in the area.
“We are in very good company,” said Simon Dervillé, Raimon Land’s Deputy Vice President of Business Development.
“With fantastic new developments in the offing, waterfront living has really taken off in Bangkok. As people are realising the uniqueness and intrinsic value of the Chao Phraya, commercial developers are investing heavily in substantial projects that will enhance not just lifestyle, but also convenience.”
Chic hotel brand klapsons will launch its first serviced residences at The River. klapsons The River Residences Bangkok will operate 92 units from the 23rd to the 31st floors of the North Tower, offering its residents refined luxury and quintessential service.
The River’s offerings also include Vue, a boutique fusion mall that completes the waterfront lifestyle with an outstanding mix of select neighbourhood stores and services, like a supermarket, coffee shops and banks. Both The River and Vue are complemented by open spaces and lush greenery to go along with the riverside atmosphere, creating a lively yet serene atmosphere for all residents.
So far, 90 percent of The River’s 838 units have been sold and 80 percent have been transferred leaving just 70 on the market.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate please email andrew@propertyguru.com.sg