Dusit Thani to Redevelop Bangkok CBD Holding

Thai hotelier Dusit Thani and shopping mall operator Central Pattana have announced plans to jointly invest US$1.16 billion in a mixed-use property development in Bangkok’s high-end central business district.

The ‘Dusit Central Park’ is situated in the prime business area on the corner of Silom-Rama IV road where the flagship Dusit Thani Bangkok Hotel was built almost 50 years ago.

Dusit Thani received approval for the mixed-use project from its shareholders in May 2017 and had to close its Dusit Thani Bangkok Hotel earlier in 2019 to in preparation for development of the Central Park project.

Dusit Central Park will house a hotel, a condominium, a shopping mall and an office building spread across 440,000 square metres. according to a joint statement issued by the companies. The project is expected to be completed by 2024.

- Video Advertisement -

Related Post

Japanese Companies Pull Out of China as Vietnam Becomes Next Destination

Japanese companies are becoming increasingly cautious about operating in China, as supply chain risks, anti-espionage legislation, and rising geopolitical tensions create an uncertain environment. A recent survey by Teikoku Databank reveals that the number of Japanese companies in China has decreased by 9.4% since its peak in 2012, with 13,034 businesses currently operating in the […]

Foreign Investors Turn Cautious as China’s Real Estate Market Faces Challenges

Amid growing uncertainty in China’s real estate market, foreign investors are becoming increasingly selective, with many shying away from commercial properties, according to Asia.nikkei dated 05 August 2024. In the first half of 2024, cross-border deals in China’s commercial real estate sector dropped by 13% year-on-year, totalling US$3.3 billion. This downturn reflects broader concerns about […]

Asia Real Estate Investments Drop 13% Amid Delayed Rate Cuts & Market Repricing

The recent decline in real estate investments across the Asia Pacific can be attributed to several factors, including delayed interest rate cuts and economic volatility. The US$22.9 billion investment volume in Q2 2024 marks a significant retreat as investors await clearer signals from central banks regarding monetary policy adjustments. This wait-and-see approach has tempered investment […]

Cambodia’s Mid-2024 Economic Update: Sharp Decline in Credit Growth Signals Business Slowdown, Rising NPL Ratios Across Sectors

A significant decline in credit growth indicates a slowdown in business activities nationwide. This trend is accompanied by rising non-performing loan ratios (NPLRs) across all major sectors, including commercial banks, mortgages, construction, and real estate activities, according to recent data from the National Bank of Cambodia for Q1 2024 ​and updated by CBRE Cambodia on […]

Surge in Foreign Investment Bolsters Vietnam’s Real Estate Market

Vietnam’s property market is witnessing a significant surge in foreign investment, fuelled by favourable economic conditions, legal reforms, and strategic infrastructure development. In the first five months of 2024, foreign investors poured nearly US$1.98 billion into the property sector, marking a 70% year-on-year increase, according to VnExpress International. This influx of capital underscores the growing […]

Experts Predict Recovery for Phnom Penh Real Estate Market with Strategic Adjustments

The Phnom Penh real estate market is currently undergoing a necessary correction phase, which is painful yet vital for moving forward to the next cycle. This correction is seen as a necessary step to stabilize the market and prepare it for future growth, according to Ms. Kim KinKesa, Managing Director of CBRE Cambodia in a […]