'Arab town' for Rama IX Road
The Rajthanee Group has announced plans to build a Bt10-billion complex near Piyavate Hospital on Rama IX Road that will be named Arab Town.
Company chairman Boon Vanasin said it would be a joint venture with strategic partners from Middle Eastern countries, including Saudi Arabia, Qatar and the United Arab Emirates, and will target an Arab clientele.The project will be developed as a luxury residential complex, consisting of a condominium, a hotel, an office building, a mini-shopping mall and a mosque, with total floor space of 200,000 square metres. Boon, who is also a director of Piyavate Hospital and owner of 20 hospitals under the Thonburi Hospital Group, said the project's architecture would be of an Arab style. The first phase should be launched this year. Meanwhile, Boon said Piyavate Hospital's spa and medical facility, which is under construction and expected to open early next year, will target clients from Europe and Japan. Arab Town is one of several projects in the group's five-year investment plan to 2010. Other projects are a residential complex on Rama IX Road near Channel 9, housing projects for elderly clients in Ratchaburi and Pathum Thani and long-stay projects in Phuket and on Koh Samui. "Following the group's five-year investment plan, there will be an average of Bt5 billion to Bt6 billion [to spend] for planned projects each year," Boon said, adding that most of the planned residential projects would be linked to hospitals. Some of them, for instance, may serve his hospital's foreign patients as they recover from surgery. Boon said Royal Executive Marina, a luxury 100-unit single-house project for elderly clients in Pathum Thani will have 4.8 hectares set aside for a 20-unit low-rise residential project to serve hospital patients. Accommodation there will cost about Bt20,000 per night. In Phuket, the group is developing three long-stay projects for sale to both local and foreign clients. One, located on Rawai Beach, is about to be launched, while the other two are already sold out. Boon said the single-house project in Ratchaburi would target elderly clients and have 100 units on 16 hectares of land on a block covering a total of 192 hectares. Each house will cost about Bt1 million. Boon said the development on the site near Channel 9 would consist of a condominium, a hotel, a shopping centre and home offices. The first phase will be a 32-storey condominium containing 100 residential units, each one costing about Bt50,000 per square metres. "Rama IX Road will be a main road linking [the city] to Suvarnabhumi Airport," said Boon. "It has the most potential for real-estate development." Sasithorn Ongdee, The Nation
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