Bt10 billion will be spent on four residential projects to be developed by TCC Capital Land, a joint venture between TCC Land and Singaporean firm CapitaLand.

The same amount will fund 10 hotels and resorts nationwide to be developed by TCC Land, which is owned by Charoen.

 TCC Land's CEO Wallapa Traisorat yesterday said the hotels and resorts would be under the Loft brand. Main locations in Bangkok include Silom, Sukhumvit and Sathorn. Projects elsewhere will be in tourist areas such as Cha-am, Koh Samui and Chiang Mai.

Last year, TCC Land invested Bt10 billion to develop two Bangkok office buildings - Athenee Tower and Cyber World Tower - and four hotels: Meridian Suravongse in Bangkok, Meridian Chiang Mai, Banyan Tree in Koh Samui and Luxury Collection Hotel in Cha-am. They will open in the second half of this year.

The company also has three new master plans for projects worth nearly Bt100 billion over the next five to 10 years.

The Sena Master Plan will develop 320 rai on Kaset-Navamin Road in Bangkok, the Cha-am Master Plan will encompass 10,000 rai in the resort town, and the Bang Sai Master Plan will cover more than 1,000 rai in Bang Sai, Ayutthaya.

The Sena plan will have eight phases. It will include a lifestyle village, Sena Avenue, to be developed by Siam Future Development, as well as an auto mall, premium outlet centre, lifestyle power centre, lakeside entertainment, commercial service and two residential areas.

Wallapa said construction of the first phase would start this year.

Yesterday, TCC Land signed a 30-year, Bt400-million contract to lease 16 rai at Sena Avenue to Siam Future Development, whose 25,000-square metre retail centre will be operational in the first quarter of next year.

TCC Land is also negotiating with investors from the United States, the Netherlands, Norway and Canada to form joint ventures to develop the first five phases at Sena. Deals may be concluded in the second half.

 "We need to join hands with foreign investors who have experience. This concept will also be applied to the developments in Cha-am and Bang Sai, as all represent our largest business expansion in the next five to 10 years," Wallapa said.

 Meanwhile, TCC Capital Land deputy CEO Soammaphat Traisorat outlined its plans to invest Bt10 billion on four new residential projects in Bangkok this year.

A luxury detached-housing project called the Royal Residence will be built on Kaset-Navamin Road, while three condominiums will be developed in Rajathevi, Thon Buri and North Park on Vibhavadi Road.

Soammaphat expects TCC Capital Land to generate revenue of Bt2 billion this year, double last year's figure.

Somluck Srimalee

The Nation