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Published on March 6, 2008

Beverage tycoon Charoen Sirivadhanabhakdi entered the real-estate business in 2001 by starting TCC Land. Since then, the company has grown into a veritable empire with property assets worth Bt100 billion in Thailand and abroad.

Over the next 10 years, the company plans to invest Bt100 billion to build up assets worth Bt200 billion by incremental capital injection of Bt10 billion a year.

The company has expanded beyond the luxury segment by offering the S&S Sukhumvit condominium project for the mid-market segment. The project is being developed by the company's subsidiary TCC Capital Land, which is a joint venture with Singapore-based CapitaLand. The condominiums in the project start at Bt1.29 million per unit.

TCC Land and its subsidiary own low-cost land nationwide and this is expected to give the firm a competitive advantage.

TCC Land's chief executive and Charoen's daughter, Wallapa Traisorat, said her idea is to transform the company into an integrated property developer.

With this view, the company will develop mixed-use properties which will integrate office buildings, residential developments, retail spaces, hotels and resorts, golf courses, serviced apartments, spas and convention centres.

"My strategy is to find experts to set up a joint venture," she said.

The company owns 51 properties, which include 24 hotels and resorts in Thailand and abroad comprising 5,000 guest rooms. Additionally, TCC Capital owns seven residential projects.

Four office buildings located in Bangkok's central business district occupying a space of 302,095 square metres, 13 shopping centres with a total space of 121,000 square metres and three-golf courses across the nation are some of the other assets of the company.

TCC Land also owns NCC Management and Development, which manages two convention centres - Queen Sirikit National Convention Centre and Kanchanaphisek Convention Hall in Khon Kaen University - as well as the Convention Hall of Thailand Science Park.

Wallapa said the company plans to develop five other properties, which include Sena Master Plan on Kaset-Nawamin Road in Bangkok, worth up to Bt10 billion and which will be developed into an integrated township.

North Park Master Plan on Bangkok's Vibhavadi-Rangsit Road will be developed under the theme of "The Ultimate Town". It will integrate an office building, a golf course and residential units.

With the EAC Warehouse Master Plan, located close to the Chao Phya River, the plan is to transform warehouses into world-class leisure facilities, a vibrant shopping area and a smart living alternative for city dwellers.

Cha-am Resort Town in Phetchaburi province will be developed as a beach resort worth Bt20 billion.

Lastly, the Bang Sai Master Plan in Ayutthaya province will be developed as "the Venice of the East". This project is under study for further development.

Somluck Srimalee

The Nation