Dusit Thani links with CPN on Bt37 bn mixed-use project

Corporate March 02, 2017 01:00

By THE NATION

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DUSIT THANI, a hotel and property-development company, has partnered with Central Pattana (CPN) to renovate and develop a mixed-use project worth around Bt36.7 billion on land it leases in Bangkok from the Crown Property Bureau. The company has signed an agreement with the bureau to renew the lease on the plot at the intersection of Silo



The company has signed an agreement with the bureau to renew the lease on the plot at the intersection of Silom and Rama IV roads for a further 30 years.

The agreement includes the right to extend the lease for another 30 years with an additional plot of almost 24 rai (about 3.8 hectares). 

Chanin Donavanik, vice chairman of Dusit and chairman of its executive committee, said that together with its partner CPN, the company would further elevate Dusit Thani Bangkok’s standing as one of the world’s renowned hotels. As well, they will build a landmark mixed-use real-estate development that features a hotel, residences, retail areas and office space, with a large green space, worth up to Bt36.7 billion.

Suphajee Suthumpun, group chief executive officer of Dusit Thani, said this project would build on the company’s unique Thai heritage combined with international standards, while utilising space in the area to its full potential. It will be a new icon of Bangkok’s new era in the same way as the iconic Dusit Thani Bangkok made history 47 years ago.

“Our goal is to develop a project that benefits both tourists and the general public,” she said. 

“This land lies right at the epicentre of the metropolis, in the heart of the business and retail district, as well as at the intersection of multiple mass-transit systems such as the BTS and the MRT. The area also houses a number of high-end residences. It is also adjacent to Lumpini Park, one of Bangkok’s most significant and popular public parks.” 

Planning for the project is in progress and details of the development will be announced as soon as they are finalised before the middle of the year, she said.

Chanin added that Dusit Thani Bangkok, built in 1970, was the first iconic landmark of modern Bangkok. It has been a prominent feature of Bangkok’s skyline for almost half a century and symbolised the beginning of the city’s transformation into one of the world’s greatest metropolises in the era of globalisation. 

Building Thai brand

As a leading hotel in Thailand for almost 48 years, today Dusit Thani dedicates itself to bringing to life a world-class development that will strengthen its image as a renowned Thai brand that has been internationally recognised for more than 65 years, he said.

Dusit International was founded in 1948 by honorary chairwoman Thanpuying Chanut Piyaoui, whose first hotel was the Princess on Bangkok’s New Road. Today the company specialises in hotel management and education and comprises an international portfolio of hotels and resorts operating under four brands: Dusit Thani, dusitD2, Dusit Princess and Dusit Devarana.

The company currently operates 29 properties worldwide and has 45 confirmed projects in the pipeline in such countries as Australia, Bhutan, China, Indonesia, Kenya, Myanmar, Oman, the Philippines, Qatar, Saudi Arabia, Singapore, Turkey and the United Arab Emirates, as well as Thailand.