Dusit’s flagship property in downtown Bangkok will be transformed under a new US$1 billion development plan.
The Thai hotel group has penned a new agreement with the Crown Property Bureau to extend its lease on the site of the Dusit Thani Bangkok for up to 60 more years.
This extension includes the right to develop an adjacent 3.8-hectare piece of land, and Dusit has now unveiled plans for a major new project on the expanded plot, with new facilities including a shopping mall, residences and a park.
According to the plan, Dusit and its partner, Central Pattana PCL, will build “a landmark mixed-use real estate development” on the city centre site.
“We plan to elevate the Dusit Thani Bangkok and, in partnership with Central Pattana PCL, create a mixed-use real estate development of international standard with an estimated project value of around THB36,700 million (US$1.05bn),” said Suphajee Suthumpun, Dusit’s group CEO.
“This project will build on our 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 the same way the iconic Dusit Thani Bangkok made history 47 years ago.”
Located in the Silom area of the city, opposite Lumphini Park and next to Sala Daeng BTS skytrain and Silom MRT stations, Dusit Thani Bangkok has been one of the Thai capital’s top hotels for almost half a century. Final plans for new project are still being drawn up, but the development is expected to include hotel, residences, retail space and offices, along with a “large green space”.
“This is a rare opportunity. Thanks to combined reputations and capabilities of our partnership with Central Pattana, we are determined to create an icon that [will]… ultimately make Bangkok a hub of high-end tourism and shopping, therefore enhancing Thailand’s reputation to the world,” Ms Suphajee concluded.
