Thailand’s TCC group plans $3.5b Bangkok development

Billionaire Charoen Sirivadhanabhakdi, chairman of Thai Beverage Pcl, speaks with guests as he attends a charity event in Bangkok, Thailand, on Wednesday, Oct. 15, 2014. Photographer: Dario Pignatelli/Bloomberg

Thailand’s richest man, Charoen Sirivadhanabhakdi, is planning a $3.5 billion property development in central Bangkok that will include offices, homes and shopping malls.

Charoen’s TCC Group and its Singapore unit Frasers Centrepoint Ltd. will develop the project, said Panote Sirivadhanabhakdi, group chief executive officer of Frasers Centrepoint. ‘One Bangkok,’ covering 16.7 hectares (41 acres), will be the largest mixed-use development in Thailand, he said.

“We aim to develop this project to be Thailand’s landmark,” Charoen Sirivadhanabhakdi said at a press conference in Bangkok on Monday. “I hope this project will house the headquarters of major global companies which will further expand growth to the country.”

The land has been leased from Crown Property Bureau and the first stage of the project is expected to open in 2021. TCC Assets (Thailand) Co. will hold an 80.1 percent stake in the development while Frasers Property Holdings (Thailand) will own the remainder, the statement said.

The 1.83 million square meter project, which is expected to be completed by 2025, will comprise five Grade-A office towers, five luxury and lifestyle hotels, three ultra-luxury residential towers and an array of retail outlets, according to the statement.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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