Bangkok’s riverside area used to contain mostly ports and warehouses, but a growing number of residential projects and mixed-use developments are being built in this area. One of the 1st projects to kick off this trend was Magnolia Waterfront Residences Iconsiam which launched in 2014.
It was part of the Iconsiam mixed-use project on Charoen Nakhon Road that contains 2 luxury residences: Magnolia Waterfront Residences and The Residences at Mandarin Oriental. The project, which is under construction, also has shopping centres, a heritage museum, a sports complex, an auditorium, piers, and an outdoor event space. And while many projects like this are being developed by the river, progress in this location has been slow.
“One of Bangkok’s 1st generation condos, as well as the 1st located in the riverside area, River House was completed in the Charoen Nakhon area in 1983. Further development of this area has been slow but gradually changing over the last 25 years. It has emerged as a prime location for 5-star hotels along both sides of the river, with 2 hotels — The Peninsula and Millennium Hilton — on Charoen Nakhon Road and the Mandarin Oriental, Shangri-La, and Royal Orchid Sheraton on the other side of the river,” says CBRE Thailand Associate Director Chotika Tungsirisurp.
At the moment, 4 of the 20 condo projects priced above THB300,000 per square meters Bangkok are on the riverside. Of this total, 3 of them are in the Charoen Nakhon area while the other is on Charoen Krung Road. Bangkok is just one of many cites to start focusing on the revitalization of waterfront areas
“Many cities around the world are rediscovering their riverfront, from New York City to London and now Bangkok. The riverfront were historically ports and warehouses, which have now become obsolete as new ports have been built to accommodate much larger ships. It has taken time for developers, buyers, and occupiers to recognize the unique feature of riverside locations,” says Chotika.
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