Wed, 21 September 2016

Country Group Secures Financing for Luxury Chao Phraya Estate Project in Bangkok

Country Group Development, a Bangkok-based real estate development and investment company, has secured project financing through China Ping An Bank that enables it to continue on schedule with the development of the luxury mixed-use Chao Phraya Estate which will house the Four Seasons Private Residences, a Four Seasons Hotel and a Capella Hotel.

The agreement will effectively raise up to US$ 375 million to ensure the timely completion of the Chao Phraya Estate.

The financing will be managed through Landmark Holdings Company Limited, a joint venture between Country Group Development and BCEG Thai International Co., Ltd that was updated in May of this year.

"The financing agreement aligns perfectly with our business targets as we move ahead with the construction of all three phases of the Chao Phraya Estate. We are confident that our unique combination of Four Seasons Private Residences, Four Seasons Hotel and Capella Hotel will set a new quality benchmark for mixed use developments globally," said CEO and Director of Country Group Development, Ben Taechaubol.

Structural works on the main tower of The Four Seasons Private Residences at Chao Phraya River are already 100% completed from LG to L8, with the substructure and foundation works on the other key project components - Capella Hotel and Four Seasons Hotel - either finished or well on the way to completion.

"Sound institutional financing is crucial for a luxury residential project of this caliber," added Mr. Taechaubol. "We began construction of this project in Q3 2014, and with this financing package and the right partners in place we are on track to meet our completion target of Q4 2018."

The Four Seasons Private Residences Bangkok at Chao Phraya River is part of vision that includes the Four Seasons Hotel Bangkok at Chao Phraya River as well as Capella Hotel Bangkok, each set to take their place as iconic landmarks on the longest waterfront promenade in Bangkok, covering approximately 14.2 acres and 350 meters of river frontage.

Named in its entirety as The Chao Phraya Estate, the development is Country Group's largest project to date, valued at 32 billion Baht. 

See other recent news regarding: Chao Phraya, Capella, Bangkok, Four Seasons

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