Dusit Thani has signed an agreement with the
Crown Property Bureau to continue leasing the plot of land at the
intersection of Silom Road and Rama 4 on which the Dusit Thani
Bangkok is located.
The lease will be extended by 30 years, with the
right to extend for another 30.
Dusit Thani, together
with its partner, Central Pattana (CPN), also plan to use an
additional plot of almost 24 rai
to build a mixed-use
real estate development that will feature an hotel, residences, retail
areas, office space and what has been described as a “large green space”.
Chanin Donavanik, Vice Chairman & Chairman of the Executive
Committee, Dusit PCL, said, “Built in 1970,
Dusit Thani Bangkok was the very first iconic landmark of modern
Bangkok. It has been a prominent feature of Bangkok’s skyline for
almost half a century and symbolised the beginning of the city’s
transformation into one of the world’s greatest metropolises in
the era of globalization. As a leading hotel in Thailand for
almost 48 years, today Dusit Thani dedicates itself to bringing to
life a world-class development which will strengthen its image as
a renowned Thai brand that has been internationally recognised for more than 65 years.”
the project is currently being undertaken and details of the
development are expected to be announced before
the middle of the year.
Mrs. Suphajee Suthumpun (pictured), Group Chief
Executive Officer, Dusit Thani PCL, said “Dusit Thani has been granted the rights to extend the lease agreement
with an additional plot of almost 24 rai. We plan to elevate the
Dusit Thani Bangkok and, in partnership with Central Pattana PCL,
create a mixed-use real estate development of international
standard with an estimated project value of around Baht 36.7 billion (approximately US$1.05 billion).
“Our goal is to develop a project that benefits both tourists and
the general public. This land lies right at the epicentre of the
metropolis in the heart of the business and retail district, as
well as at the intersection of multiple mass transit systems such
as the BTS and the MRT. The area also houses a number of high-end
residences. It is also adjacent to Lumpini Park, one of Bangkok’s
most significant and popular public parks.
“This is a rare
opportunity. Thanks to combined reputations and capabilities of
our partnership with Central Pattana, we are determined to create
an icon that embodies gracious Thai heritage with international
standards at the epicentre of Bangkok. We hope that this project
will exemplify the talents of Thai people and the strength of
Thailand’s hospitality business, as well as real estate
development and retail industries, and ultimately make Bangkok a
hub of high-end tourism and shopping, therefore enhancing
Thailand’s reputation to the world,” added Mrs. Suphajee Suthumpun.
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