New national landmark readies to rise in Thailand begins piling, boosts investment to Bht 50,000 million

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1 For Immediate Release 1 July 2014 New national landmark readies to rise in Thailand begins piling, boosts investment to Bht 50,000 million New property development the largest and grandest ever undertaken by the private sector in Thailand to be named ICONSIAM project details unveiled Creating an iconic new national landmark that will be a symbol national pride of Total investment boosted 40% to Bht 50,000 million (US$1,540 million) by joint developers Siam Piwat, Magnolia Quality Development, and Charoen Pokphand Group Spearheads first ever national-level collaboration to make Bangkok s riverfront an entirely new global attraction in Thailand, assembling massive public sector and private sector coalition of more than 30 hoteliers, retailers, river transport operators, historical destinations, and cultural attractions to activate 10 km of river frontage under ICONSIAM River Master Vision ICONSIAM mega-development to have two glamorous shopping complexes, two magnificent waterfront residential condominium buildings, multitude of stunning, world-class attractions that will bring global recognition to Thailand ICONSIAM to combine the best that Thailand has to offer with the best of the world to become a new paradigm of excellence Bangkok (1 July 2014) The owners of one of the world s great, new iconic developments that is also the largest investment ever made by the private sector in Thailand in a property endeavour, today, presented the first details of the mega-development s key components and announced that the sensational new riverside landmark being constructed in Bangkok is to be named ICONSIAM.

2 The iconic development, for which piling has begun, promises to be a new symbol of national pride for Thailand. It includes two of the world s most glamorous retail complexes, two magnificent, world-class waterfront residential condominium buildings, as well as seven precedent-setting attractions that will be the first of their kind in Thailand and which are called the Seven Wonders at ICONSIAM. The developers disclosed that, in response to very strong interest from customers in the project concept, the project s land area is expanded from the original size of 40 rai (16 acres) at the time when the decision to develop the riverside site was first announced, to 50 rai (20 acres) through the acquisition of surrounding properties. As a result of the expansion and enhancements, the total investment in the project is also raised more than 40% to Bht 50,000 million (US$ 1.54 billion) from the initial Bht 35,000 million (US$1.1 billion) that had been committed. ICONSIAM is being developed by a highly reputable partnership between three of Thailand s most successful businesses, assuring the project the national landmark status that it seeks. The development partners are Siam Piwat the owner and operator of globally reputed prestigious retail developments including Siam Paragon, Siam Center, and Siam Discovery Magnolia Quality Development Corporation, the high-profile developer behind a number of holistic innovations for top-end residential developments, including Magnolias Ratchadamri Boulevard and, the multi-national conglomerate Charoen Pokphand Group. Mrs. Chadatip Chutrakul, CEO of Siam Piwat Co., Ltd., said, We are creating the most sensational development that this country has ever seen that will change the axis of activity in Bangkok. It will be the most compelling, must-see destination of Thailand drawing visitors from around the world and from around Thailand because of the richness of its diversity of offerings and attractions many of which will be the first of their kind and because it will be at the centre of an grand-scale plan to revitalise Bangkok s world-renown Chao Phraya River as a global destination. She said, ICONSIAM is introducing to Thailand a completely new approach to property development. We are creating a new national destination that is comprehensive and integrated, like a city, and one that has a huge role to play in carrying forward the rich culture of our nation. It is a unique example of collaboration between multiple ministries, state and city agencies, and the private sector. ICONSIAM is also a hub for transportation infrastructure, with two existing bridges across

3 the Chao Phraya River in the vicinity, and three more new bridges to be built, as well as the city s Green and Red line rail mass transit systems. In addition, there is one private and two public piers at ICONSIAM, which link with 73 other piers on the Chao Phraya River, docking more than 650 trips daily. ICONSIAM also has six of its own shuttle boats and its own shuttle buses. Revitalising the Riverfront Biggest Initiative Ever Mrs. Chadatip said, ICONSIAM will act as a catalyst to a dramatic revitalization of the Chao Phraya River. Through a collaboration called the ICONSIAM River Master Vision, more than 30 major establishments, including retailers, hoteliers, river transport operators and sites of historical and cultural significance with important riverfront locations, will work together to make the river into an exciting global-scale attraction that will further boost the appeal of Bangkok as a memorable destination, and help to drive up local and international tourist visits to the city. This collaboration includes projects worth more than Bht 142,000 million which have or are being completed during the 2012 and 2020, and extends across a zone of more than 10 kilometers along the Chao Phraya River. It will enable local and international visitors to benefit from a rich and varied experience that includes enjoyment of the river s beauty as well as its valuable cultural heritage. They can explore the river in a way that was never before possible, and spend days journeying through the various partner establishments. It is the first time, ever, anything of such a spectacular scale has been put into motion to make this magnificent river into a global scale new destination for visitors and the single biggest tourism-related initiative ever undertaken right in the heart and soul of Bangkok, she said. Discussions on the plan have been held with the Ministry of Tourism and Sports, the Ministry of Culture, the Crown Property Bureau, and the Tourism Authority of Thailand. Among the riverside establishments that have joined forces for collaborative marketing and promotion programmes as well as other activities are the Mandarin Oriental hotel, the Royal Orchid Sheraton hotel, the Shangri La hotel, Chatrium Riverside, Millenium Hilton Bangkok hotel, and The Peninsula Bangkok hotel, the Chao Phraya Express Boat company, and Asiatique the Riverfront. The city administration is considering plans to create the longest riverside boardwalk in Bangkok, and ICONSIAM will participate and become a significant part of the dramatic

4 project by creating at ICONSIAM the largest community space by the river, called the River Park, and connecting it to the city s boardwalk. The riverside event plaza and park of over 10,000 square metres will allow people to access and enjoy the beauty of the riverside atmosphere in a way that has never been possible before. It will host grand, national events as well as world-class performances at one of the most enchanting locations on the Chao Phraya River, and it will make ICONSIAM an essential fixture in the global tour circuit of the great performing artists of the world, Mrs. Chadatip said. She said the Chao Phraya River is one of Bangkok s natural assets with the greatest potential and that the ICONSIAM River Master Vision plan will help activate this asset to boost Bangkok s standing as a hub city in the new ASEAN Economic Community (AEC), as well as help increase tourism revenues for Thailand. ICONSIAM is in a strategic Bangkok location on a 50-rai (20-acre) plot of land with cultural significance and is situated on the Chao Phraya River. It has one of the longest river frontages in central Bangkok, and is also embraced to the left and right by water along a distance of more than 400 meters. Mrs. Chadatip said, ICONSIAM is in the heart of a broad catchment area for a large number of international and local customers, with 3 million residents, 200 upscale residential projects and more than 10,000 rooms in 50 world-renown hotels within a five kilometer radius. It is five minutes by car from the Silom and Sathorn central business districts and is the most convenient destination for those living in the western part of Bangkok. Visitors can access ICONSIAM by rail, car, or by boat from a combined 650 trips a day. And, in the next three to five years, several major transport infrastructure programmes in the vicinity are to be completed. She said that because ICONSIAM was such a grand-scale programme, it would also serve as a powerful force to realign people s transport preferences in the city and encourage people to consider river transportation as an attractive alternative to their cars. Mrs. Chadatip added, Our vision for ICONSIAM incorporates the world s most advanced thinking in the design of residential, commercial and community space, and it will put

5 Thailand into the rarefied list of countries that are the locations for the world s most iconic property developments. It combines the best of the world with the best of what Thailand has to offer and will be a major force in strengthening Bangkok s position as one of the world s most desirable destinations. She said, ICONSIAM has been designed for the future, while blending in all that is true to Thailand s cultural heritage. It will be the defining property development of its era and an iconic legacy for the country s property industry. ICONSIAM will be a paradigm of excellence that showcases Thailand s capabilities and inspires the confidence of the international business community. Project Components Ms. Tipaporn Chearavanont, CEO, Magnolia Quality Development Corporation Ltd., said, ICONSIAM will be Bangkok s most prestigious address. We are creating a complete and comprehensive lifestyle offering that is like a new city and embraces residential, retail, and cultural components. These components are at the highest international standards and they will have the world looking at Thailand in an entirely new way. ICONSIAM has a gross floor area (GFA) of 750,000 square metres, comprised of two retail complexes covering 525,000 sqm, two super-luxury waterfront residential buildings one at 70 floors, and the other at 40 floors as well as multiple, first-of-their-kind attractions, labeled the Seven Wonders at ICONSIAM. Together, they aim to give ICONSIAM the most diverse set of mega-attractions available anywhere in the country, and ensure it becomes the most desirable destination for all visitors to Thailand and from around Thailand, she said. Among the Seven Wonders at ICONSIAM, created with an investment of over Bht 10,000 million, are: Southeast Asia s longest, on-land multi-media water-and-fire feature at over 400 metres in length, and which will dazzle visitors with enthralling shows of water, fire, sound and light. a museum of treasures featuring Thailand s heritage and wisdom.

6 Retail and Entertainment Concepts Mrs. Chadatip said, ICONSIAM is creating a retail environment that is like no other in the world. We are pioneering revolutionary new ideas at the forefront of retail development. They will make ICONSIAM a unique destination that provides visitors an unparalleled diversity of inspirational and exciting experiences that blend in the essence of Thai culture and are so exceptional that they will make every Thai proud. ICONSIAM will have two retail complexes presenting the ultimate in international and local brands, with one being the Luxury complex and the other the Main Retail and Entertainment complex. They will have different atmospheres, as well as separate parking facilities, but will be conveniently connected to each other. The Luxury complex will be 25,000 square metres, with 300 metres of frontage and be along the river, and bring together the world s ultimate brands. ICONSIAM has an icons-within-an-icon concept that will be one of the first in the world. The world s and Thailand s most iconic brands will design and construct their own iconic structures inside our retail complexes. These Iconic Stores will be designed by each brand owner to represent the unique heritage and individual essence of each brand. She said, The flagship Iconic Stores at ICONSIAM are also among the first such buildings in the world, and they will become talk-of-town destinations in themselves. Visitors will be able to walk leisurely among these various Iconic Stores, as well as Michelin-star restaurants from various countries, which, collectively, will deliver a stunning, other-worldly experience. She added, The developer acts as a curator for the collaborative efforts of tenants and other participants in shaping the space at ICONSIAM and in bringing alive this entire, extraordinary venture. The Main Retail and Entertainment complex is adjacent to Charoen Nakhon Road, and will have its own distinct atmosphere that combines the indoors with the outdoors. There are more than 500 shops, 100 restaurants from 30 countries, Thai brand champions, many services and products that are going to be available for the first

7 time in Thailand, as well as a rooftop garden and a sports complex. ICONSIAM will also have a world-class auditorium with 3,500 seats that is capable of hosting top-level international conferences, important national meetings, trade exhibitions, as well shows from Broadway and London. She said that ICONSIAM will draw in the atmosphere and view of the surrounding Chao Phraya River, and that visitors will be inspired inside the buildings by the artworks of national artists of different genres as well as by the works of world-renowned artists. The visitor will delight in immersing themselves in experiencing the venue and the marvelous location, rather than just moving along corridors or just seeing rows of shops, she said. ICONSIAM is targeting customers that are both male and female and of all ages, from both sides of the river in Bangkok. It also aims to draw Thai customers from throughout the country who will come to see the amazing Seven Wonders at ICONSIAM. Beyond that, ICONSIAM will be a magnet to attract visitors from all corners of the world who will come to see and experience Thainess at its very best. Residential concepts Ms. Tipaporn said, The Magnolias Waterfront Residences at ICONSIAM are at the forefront of global residential development design and will be among the world s best residential properties. They are conceived to enable residents to be a part of a seamless global community that operates without national boundaries and whose expectations of quality, conveniences and services are at the highest levels, regardless of whether they are living in London, Tokyo, New York, or Bangkok. She said the residences will set new benchmarks in residential development in Thailand in terms of luxury, global connectivity, services and sustainability with special attention towards everything that enhances quality of life and respect for the environment. The buildings will have embedded the world s most advanced communications technology and fibre optics (FTTX Fiber-to-Home) to support a growing international community of people who operate globally and need to stay connected with the world. According to Ms. Tipaporn, The Magnolias Waterfront Residences at ICONSIAM provide a rare combination of superlative quality in design and execution, combining Thai elements with modern, restrained elegance in a location that is both beautiful, and yet is still central

8 and highly accessible through multi-modal transport systems. Residents are near shopping, entertainment, and meeting facilities and are still close to nature, similar to some of the latest developments on the Thames in London. She added that the buildings are carefully positioned and each unit is designed to enjoy natural shading, protection against the sun, and to benefit from natural ventilation, while at the same time drawing in the magnificent view from the site, giving the feeling of a resort home. Green areas are at around 70% of the site, and there are pocket gardens for a high degree of privacy. Units benefit from air purifiers, humidity control, and large verandahs that let one enjoy the river and breathe fresh air. Ms. Tipaporn said that the attention with which ICONSIAM has been designed, and the emphasis on sustainable practices, will also bring great value to the surrounding communities, further adding to the quality of life of those in the vicinity of the project. Mr. Narong Chearavanont, Senior Executive Assistant to Chairman of Charoen Pokphand Group Co., Ltd., said, Charoen Pokphand Group is confident that ICONSIAM will benefit Thailand because it is a world-class project that will become a new iconic landmark for Bangkok and help attract visitors from around the world to shop, tour, and reside in the country. The project will increase Bangkok s potential as a business and tourism hub in ASEAN and the world. He said, Charoen Pokphand Group is very proud to contribute to the development of ICONSIAM because the investment is in line with the group s Three Benefits operating principles which require all of the group s investments to serve the interests of the country first, its people, and then the company. We have a commitment to sustainability in all our operations, and believe that ICONSIAM will support Thailand s social and economic development needs as well as contribute to the country s reputation and prestige. ICONSIAM is currently accepting bookings for retail space as well as residences and can register through Completion of the project is scheduled within ICONSIAM The Icon of Eternal Prosperity For further information, please contact: Siam Piwat Co., Ltd.: Sireetorn Niyomsen tel: ext 2260 Bangkok Public Relations Ltd.: Pathara Kwantientong tel: ext 115