Video: Bangkok waterside project targets Middle East buyers

Affluent Middle East buyers are firmly in the sights of the developer behind an ultra-luxurious riverside project in Bangkok.

Country Group Development (CGD) is on schedule with the development of the 14.2-acre luxury mixed-use Chao Phraya Estate comprising the Four Seasons Private Residences Bangkok at Chao Phraya River, Four Seasons Hotel Bangkok at Chao Phraya River and Capella Hotel Bangkok, which aims to open Q4 2018. The development is Country Group’s largest project to date, valued at around THB32bn.

CGD recently secured project financing through China Ping An Bank which raises up to $375m and the financing is managed through Landmark Holdings Company Limited, a joint venture between CGD and Beijing Construction Engineering Group (whose portfolio includes Al Reem Island Phase 1 in Abu Dhabi).

Featuring “modern contemporary design and timeless elegance”, the 355 all-corner residences start from 115sqm for a two-bedroom residence (priced around $950,000-$1m) and go up to 1,050sqm for a penthouse ($20m).

After achieving sales of THB700m during a two-day exhibition in Hong Kong last year, its next step is to target the Gulf to accommodate the rise in Arabic travellers who travel to the country for business, leisure or medical facilities. Small functions targeting HNWIs in Dubai are planned in Q1 2017.

Ben Taechaubol, CEO and director of CGD, says work on the main tower comprising the 73-storey Four Seasons residences is up to level 11 and substructure and foundation works on the two hotels are well on the way to completion. “What makes it unique is this area is historic – the road outside was the first paved road in Thailand, and making new developments of a scalable size is very rare,” says Taechaubol, recalling when the opportunity emerged six years ago. “So we grabbed it with open arms.”

He added that it wants to “redefine” waterfront living. “Bangkok has some fantastic hotels and we wanted to tie up with the best operators to offer the best in Thai hospitality – it wasn’t just about who is popular now, but who we think will be quality operators here 20 years in the future.”

Complementing the soaring residences will be a discreet 101-key, all-suite Capella Hotel which will have an “intimate eclectic residential feel” with private waterfront villas and Presidential Villa – likely to be finished first – and 312-room, low-rise Four Seasons Hotel, positioned as an urban resort. The Capella will be Bangkok’s first all-suites riverside hotel and contain private river villas, grand ballroom, Capella living room and Auriga spa. The Four Seasons Hotel will have a Grand Ballroom spanning 1,400sqm inclusive of pre-function spa, speciality conservatory concept for meetings and functions and sky terrace garden.

The estate’s overall design has been conceptualised by Hamiltons International with interior designs from BAMO and PIA Interior Co., complemented by architects Dhevanand Architects Co. and P Landscape (landscape designer).