The owners of a property development representing the largest investment ever made by the private sector in a real estate endeavour in the country recently presented first details of the mega-development’s key components, and announced that the dramatic new riverside landmark being constructed in Bangkok is to be named ICONSIAM.
The 750,000 square metre gross floor area (GFA) development, for which piling has just begun, includes two glamorous retail complexes covering 525,000 square metres, two super-luxury waterfront residential condominium buildings of 70 and 40 floors, a riverside event plaza of over 10,000 square metres, as well as seven attractions that are the first of their kind in Thailand and which are called the ‘Seven Wonders at ICONSIAM.’ Among the attractions is Southeast Asia’s longest land-based multi-media water-and-fire feature at over 400 metres in length.
Chadatip Chutrakul, CEO of Siam Piwat Co., Ltd., (center), Tipaporn Chearavanont, CEO, Magnolia Quality Development Corporation Ltd.,(right) and Narong Chearavanont, Senior Executive Assistant to Chairman of Charoen Pokphand Group Co., Ltd., (left) pose for a photograph following a press meeting to announce the naming of ICONSIAM.
The developers also announced that they have raised their investment to US$1.54 billion (Bht 50 billion), up 40% from the time when the decision to develop the plot was first announced, in response to strong interest in the development’s concept and the expansion of the project’s land area from 16 acres to 20 acres.
ICONSIAM, due for completion in 2017, is being developed by three of Thailand’s most successful businesses including Siam Piwat – owner and operator of prestige retail developments such as Siam Paragon, Magnolia Quality Development Corporation – a top-end residential developer with projects such as Magnolias Ratchadamri Boulevard, and multi-national conglomerate Charoen Pokphand Group.
ICONSIAM will feature a spectacular 400m waterfront with Southeast Asia’s longest land-based multi-media water-and-fire attraction.
Chadatip Chutrakul, CEO of Siam Piwat Co., Ltd., commented: “We are creating the most sensational property development that this country has ever seen and one that will change the axis of activity within Bangkok as well as boost the city’s appeal as a top global destination. It combines the best of the world with the best of what Thailand has to offer. ICONSIAM is also pioneering revolutionary new ideas at the forefront of retail development.”
The site has 400 meters of river frontage, the longest of any property in central Bangkok, and is set to revitalize the city’s world-renown Chao Phraya River area.
This photo shows the location site for ICONSIAM. The development, situated in the heart of Bangkok, promises to revitalize the Chao Phraya River area of the city.
“More than 30 important establishments with riverfront sites along 10 kilometers of the river will collaborate with joint promotions, activities, and shared river boat services. They aim to make the river into a global-scale attraction to further boost Bangkok’s appeal as one of the world’s most desirable destinations as well as enhance its standing as a hub city in the new ASEAN Economic Community. The establishments include retailers, hoteliers, river transport operators and sites of historical and cultural significance,” said Narong Chearavanont, Senior Executive Assistant to Chairman of Charoen Pokphand Group Co., Ltd.