JUSTIFYING its billing as Bangkok’s new destination, Samyan Mitrtown, the first mixed-use project on Rama IV Road by Golden Land Property Development Plc, or Golden land, is setting out to meet the new generation’s lifestyle needs with retail, residential and office zones.
Occupying a gross floor space of 222,000 square metres, the Bt9-billion complex will officially open this month.
Thanapol Sirithanachai, president of Golden Land Property Development Plc, said that as a leading full-service property development company, the company specialises in residential and commercial property development with a portfolio made up of such large property projects as Park Venture, Sathorn Square, FYI Center and Golden Land towers, totaling 500 billion square meters of office space.
“Samyan Mitrtown is a major property project set on a location of high potential in the city center at the corner of Rama IV and Phya Thai roads. The project is in close proximity to key spots including Chulalongkorn University, Siam Square, and the Samyan community. The plus side is the easy mobility thanks to the project directly connecting to the next-door Samyan MRT station. The company invested Bt300 million to create a bridge that connects with the project with the MRT station in the basement. Getting around by car is highly convenient as the project is close to the entrances and exits of Srirach Expressway and Chalerm Maha Nakhon expressways,” he said.
The Rama IV Road area is set to be Bangkok’s next business hub thanks to the large-scale investments in the public transport system by the state private sectors. Samyan Mitrtown will be among the first projects that brighten up and reinvigorate the Rama IV area.
Samyan Mitrtown’s retail area accounts for 30 per cent of the project, an ideal size for a mixed-used development. The project has 36,000 square meters of leasable area including the retail area spanning B1 level to the 4th floor; a multi-purpose hall on the 5th floor; and a big rooftop garden.
While aligned with Retail 4.0, Samyan Mitrtown has been tailored to the lifestyle needs of the new generation. They are coming here not for shopping alone, but to live their lives thanks to the retail zone that’s open 24 hours a day and complete with restaurants, coffee shops, a fitness center and a learning center – open around the clock – for use by school students, university students and the general public taking time out to enjoy reading, do homework and join a meeting.
The retail area of Samyan Mitrtown stands out with the “Urban Life Library”, a repository of food and learning opportunities catering to different lifestyle choices: dining, relaxing and learning. Due to its close proximity to several education institutions, the project will be a new destination for school students and university students to explore new experiences.
The retail area is divided into three sections, which are the Eating Library (43 per cent) offering new experiences related to the art and science of dining with a wide variety of cuisine; the Learning Library (29 per cent), the area for creating new learning opportunities and for skills-sharpening classes; and the Living Library (28 per cent), tailored to the needs of modern urban lifestyles.
With the perfect combination of facilities and components, Samyan Mitrtown is an interesting project from the perspective of either consumers or tenants.
At present, space reservations account for 40 percent of the overall leasable space, with the spaces available for the main tenants already fully booked. Spaces for small-scale tenants’ reservations will be available for booking later this year,” said Mr. Thanapol.
The retail area of Samyan Mitrtown has been tailored to the needs of up to 7,000 users both in the office tower, condominium and hotel when fully leased. The area will be able to manage a crowd capacity of 700,000 per month.
The “Samyan Mitrtown” project was developed by Golden Land Property Development Plc under a partnership with TCC Assets (Thailand) Company Limited through the incorporation of a company named Kasemsubbhakdi Co Ltd in which Golden Land holds 49 per cent of its registered shares of Bt3 billion and TCC Assets holds the remaining 51 per cent.
This is a large commercial project with a capital investment of Bt9 billion with a 10 year breakeven period. Golden Land has been granted the right to develop the 13 rais site by Chulalongkorn University under a 30-year lease period.