TCC Land Asset World announced that it has set aside THB10 billion to develop the second phase of Asiatique The Riverfront, according to local media. The next phase of the popular shopping complex includes a five-star hotel, a convention centre and additional shopping space.
Construction on the new areas of Asiatique will begin in 2018 with the developer hoping all work is finished some time in 2020. At the present time, Asiatique brings in 30,000 visitors on weekdays and more than 50,000 on Saturdays and Sundays.
The new parts of Asiatique will be situated close to the open-air shopping mall. The project is set on a 16-rai plot of land and will consist of an 800-key five-star hotel, convention facilities and a shopping arcade.
“This will help energies Asiatique The Riverfront to become a one-stop service retail and recreational destination in Bangkok,” Surasit Manawatanakij, asset manager 1 of TCC Land Asset World, told the newspaper.
The developer continues to look at ways to boost visitor traffic in the future and there are also plans to add a wharf as part of a THB300 million project that will help the facility accommodate more tourist boats and dining cruises.
Surasit added that the project will also include the construction of a floating fine-dining restaurant that features a design inspired by a royal vessel used during the reign of King Rama V along with an expanded space up to 1,000 sqm. for a street fashion zone. There are also plans in place to enhance Asiatique’s MICE capabilities in the future.
The massive complex has been a boon for the area along the banks of the Chao Phraya River with the retail and hospitality businesses helping increase traffic. The developer claimed hotel occupancy has risen 45 percent in the area since it has opened and is now at 80 percent.
