Piling work has begun on what is touted as being the largest private property development to ever take place in Thailand, and one that will bring a world-class iconic development to central Bangkok.
Work on the THB50 billion Iconsiam project, a joint-venture between developers Siam Piwat, Magnolia Quality Development, and Charoen Pokphand Group, will spearhead plans to make 10 kilometres of Bangkok’s riverfront a new global attraction.
The Iconsiam mega-development will have two hopping complexes, two waterfront residential condominium buildings, and what the developers describe as a multitude of world-class attractions that will bring global recognition to Thailand
In response to strong demand, the developers have already expanded the planned initial development area by 20 percent to some 20 acres since the plans were first discussed.
Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Co, said: “We are creating the most sensational development that this country has ever seen. It will be the most compelling, must-see destination of Thailand drawing visitors from around the world and from around Thailand.
“We are creating a new national destination that is comprehensive and integrated, like a city, and one that has a huge role to play in carrying forward the rich culture of our nation.”
Iconsiam is in a strategic Bangkok location on a 50-rai (20-acre) plot of land with cultural significance, and is situated on the Chao Phraya River. It has one of the longest river frontages in central Bangkok, and is also embraced to the left and right by water along a distance of more than 400 meters.
Discussing the residential component of the development, Tipaporn Chearavanont, Chief Executive Officer of Magnolia Quality Development Corporation, said: “The Magnolias Waterfront Residences at ICONSIAM are at the forefront of global residential development design, and will be among the world’s best residential properties.”
She said the residences will set new benchmarks in residential development in Thailand in terms of luxury, global connectivity, services and sustainability with special attention towards everything that enhances quality of life and respect for the environment.
She added that each unit is designed to benefit from natural ventilation as well as draw in the magnificent view from the site, giving the feeling of a resort home. Green areas are at around 70 percent of the site, and there are pocket gardens for a high degree of privacy. Units benefit from air purifiers, humidity control, and large verandahs that let one enjoy the river and breathe fresh air.
Completion of the project is scheduled within 2017.
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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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