The idea of transforming the Ratchaprasong retail and commercial district into the equivalent of its iconic regional counterpart “Orchard Road” (In Singapore) is not a novel initiative!
Interestingly, several of the Capital’s leading commercial developers notably The Central Group, The Erawan Group, Gaysorn Property Group and Platinum Group have expressed a common vision in regards to elevating the district into the leading shopping and office hub of Bangkok and South East Asia.
Ratchaprasong SEA’s Next Orchard Road?
This ambitious vision could be more than just pipedreams; the Ratchaprasong area already benefits from strong foundations and is already recognized as one of Bangkok’s premiere shopping, leisure and business hotspots. The four corners of the Ratchaprasong Intersection is already host to several luxury malls notably Central World and Gaysorn Plaza. As a result, the district is an ultra-popular tourist destination and several 5-Star hotels notably the Anantara Siam, Grand Hyatt Erawan and Renaissance Hotel are located in the area.
The area offers convenient access via either mass transit (BTS) or road to other commercial hotspots of Bangkok notably Siam, Chidlom/Ploenchit and Silom/Sathorn. As a result office space providers report strong and sustained demand from corporate tenants thus positioning Ratchaprasong as a vibrant and connected business center.
However, 2017/18 will see a dramatic transformation of the area which is currently experiencing a makeover. Here are some developments to watch:
Central World’s Upgrades and Extensions
Central World Undergoing Major Renovations and Extensions
It is important to note that The Central Group is proactively investing into its Central World Mall and The Offices at Central World. With a planned THB 7.5 Billion of investments, that will go towards an extension of its Zen and Isetan department stores as well a general upgrade and maintenance of the Groups’ Complex.
The Market by Platinum Group
The Market by the Platinum Group (Owners of the famous Platinum Mall)
The Platinum Group is reported to have invested THB 7.5 Billion into this mixed-used complex located right across the road from Central World. The expansive project is due to complete in 2018, and will offer a range of elements notably a hotel, shopping mall and office complex.
Gaysorn Village
Almost Completed Gaysorn Tower will be Part of the Gaysorn Village Complex
Gaysorn Property Group, is completely revamping its existing retail and commercial properties notably Gaysorn Shopping Mall, Amarin Plaza and Amarin Tower. On top of this the property group is currently developing Gaysorn Tower and hopes to combine its existing properties with its new project to create “Gaysorn Village”. These developments will be inter-connected via a series of entrances and skywalks thus creating a seamless visitor experience.
The highlight of this initiative will be “Gaysorn Tower” an impressive 30-Storey office tower that will offer a total of 63,000 sqm of lettable retail and commercial space. It is reported that over 60% of its lettable area is already occupied. With several high-profile future corporate tenants notably Facebook and Line Corporation. Once Gaysorn Tower is launched, the Gaysorn Village will span a total of over 180,000 sqm. of lettable retail, leisure and office space.
