Pent-up demand is expected to convert into supercharged activity throughout the Asia-Pacific real estate market this year, with the luxury end of the sector set to do especially well. While a general uptick is anticipated, industry sources have identified a number of individual country markets that are likely to particularly benefit from this improved sentiment.
In the case of Singapore, according to the latest Asia-Pacific Market Snapshot by global real estate brokerage Colliers, demand for bigger and better-quality spaces is expected to be particularly robust, with homeowners willing to pay a premium to secure such properties. The market is expected to be further bolstered by a growing influx of high-liquidity overseas buyers. Throughout the region, it is also expected that greener, more environmentally friendly spaces will be at a premium.
One development that is keen to burnish its green credentials is the Marina One Residences, one of Singapore’s most sought-after upscale living complexes. With its award-winning blend of luxury, spectacle, convenience and unmatched natural harmony, the Residences continue to be the preferred choice for both high-end family living and as a high-return real estate investment opportunity.
Of late, working from home and changed consumer preferences have seen the development’s three- and four-bedroom apartments emerge as its most in-demand spaces, while its penthouses also continue to attract particular attention. Its status as one of the city’s most award-winning green buildings has also proven a huge draw.
Over in the Philippines, according to Colliers, the completion of a number of major infrastructure projects is likely to spur demand. Inevitably, this will hugely reassure investors throughout the sector, while also acting to buoy rental values and reduce vacancy rates.
Benefitting from this renewed market confidence is the portfolio of new properties on offer from Ayala Land, one of the Philippines’ largest developers. Having built its reputation through the provision of superior sustainable developments, this year the company is focusing on a raft of new projects set far from the Metro Manila area.
Among its current flagship projects is Solinea, which offers city resort-style living at the heart of Cebu Business Park. Those in the know are also eyeing The Residences at Azuela Cove, a luxurious planned space enjoying panoramic views out over the Davao Gulf.
With its GDP expected to surge over the coming years, the Philippines is also set for a boom on the luxury residential front. Spearheading this is a canny example of brand extension on the part of Grand Hyatt, which has seen the 50-story Grand Hyatt Manila Residences (GHMR) South Residences acclaimed for its eclectic mix of upscale lifestyle, dining and shopping options, not to mention its 188 designer residential suites.
Set adjacent to the landmark Grand Hyatt Manila and developed by Federal Land, GHMR maintains the level of premium living the five-star hotel is renowned for, while allowing its affluent residents to enjoy it in an ongoing, uninterrupted fashion.
These and other landmark projects signal an exciting year ahead for the Asia-Pacific real estate sector.
For many years, the concept of the metaverse—a term used to describe the next evolution of the internet and a virtual world where people can socialize, work and play—has been merely a dream, or perhaps a vision, for technopreneurs.
This is understandable given that the development of a metaverse requires advancements in multiple technologies, including artificial intelligence (AI), virtual reality (VR), augmented reality (AR), wearables, blockchain and cloud computing. However, with the progress made by tech companies in recent years, metaverses are on course to become a reality sooner rather than later.
Creating Happiness with the Translucia Metaverse
Over the past year, many large global companies—from tech giants such as Alphabet and Meta (formerly known as Facebook) to consumer products like Coca-Cola and Nike—have shown growing interest in metaverses.
But interest in metaverses is not only being generated by US-based corporations. Bangkok-headquartered T&B Media Global has also announced ambitious plans to develop its own metaverse. T&B Media Global Founder and CEO Dr. Jwanwat Ahriyavraromp calls the company’s creation Translucia: a metaverse designed to contribute to the society and economy by “transforming the way we live and experience life.”
Unlike other metaverses, however, Ahriyavraromp sees Translucia serving a greater purpose. “Like other metaverses, Translucia is an integration of advanced technologies, imagination and creativity. Unlike other metaverses, Translucia focuses on creating happiness, not only from external sources but also internally from one’s mind and body,” he says.
A Four-level Metaverse
The Translucia Metaverse, into which T&B Media Global is investing US$300 million (10 billion baht), will comprise four key levels: Central Translucia, Pillars of Nature, Nature’s True Home and Beyond Boundless.
According to Ahriyavraromp, Central Translucia—also known as the Central Hub of Limitless Opportunities—is a place where you can pursue various interests, and where dreams can become real. The Pillars of Nature comprises various fascinating ecosystems, including flora and fauna, to be explored and discovered, while in Nature’s True Home, users have access to a “hidden realm of nature’s wonders and enchantments” that, Ahriyavraromp says, is “a special world where you can choose your destiny as nature’s guardian.”
As for Beyond Boundless, Ahriyavraromp describes it as “a place where the mind and soul will find rest and be lifted by those we love and trust.”
At December’s Metaverse Unlimited, the first international forum organized by Translucia, metaverse experts from around the world agreed that there are endless possibilities in terms of how metaverses can benefit mankind.
Pat Pataranutaporn, Research Assistant and Ph.D. candidate at MIT Media Lab, believes technologies that enable the metaverse can help humans to stay healthier through closed-loop wearables. Humans are also able to make better decisions with human-AI symbiosis, and learn better with AI-generated characters, he adds.
Pataranutaporn also says that, by having wearables that are able to tap into the body’s biological information, visiting clinics and hospitals for health checkups may become a thing of the past, while wearable technologies capable of producing medicine within a person’s body are also a possibility. “Now, with the advancement in synthetic biology, we can have the capability to use bacteria cells in the body as a living medicine factory,” he says.
He also sees the metaverse playing another big role in Thailand, which is increasingly becoming an aging society. “With technologies that enable the metaverse, we can potentially live a healthier lifestyle, and even live longer. As you are aware, Thailand is becoming an aging society. So, we need to think of ways we can help those people and create society wisdom, so that we can empower the younger generation to create a better future,” he says.
Meanwhile, Cathy Hackl, Chief Metaverse Officer and CEO of the Futures Intelligence Group, says the fashion and entertainment industries have been showing interest in the metaverse, with Ariana Grande performing a concert on Fortnite, a popular multiplayer video game, and Nike acquiring RTFKT, a company that designs assets that are only available virtually.
“The metaverse presents itself as a realm of infinite possibilities and opportunities, like unexplored planets in outer space,” Hackl says.
Building a Better World
Although AI, which is a key building block for the metaverse, has its suites of benefits, including the advancement of healthcare, pharmaceuticals and education, Jeanne Lim, Co-Founder and CEO of Hong Kong-based beingAI, says humans are becoming “increasingly disconnected from the positive impacts of AI.”
She explains that the disconnection is partly due to fear of AI taking over from humanity and taking our jobs, as well as a distrust of the technology, for example deepfake videos.
“However, we do have a choice in how we design technology, and how we engage with technology,” says Lim. “If we want machines to understand us, understand our values, so that they can make better decisions for us, we have to engage with them. I believe that positive human-AI interactions can elevate the human experience.”
While technology is a key building block for the metaverse, Lim says she believes that the most important building block for the metaverse is human wisdom—after all, it is humans who will be designing the AIs.
“We have to start with human wisdom in order to put the rocks in the right place. Overall, this may be our last chance of building a better world. To me, the metaverse is not something we enter, it is something we build as a human race,” she says.
Creating Purpose and Legacy
Understanding that the metaverse and its related technologies can bring enormous benefits—and sometimes harm—to humankind, Ahriyavraromp believes it is vital for Translucia Metaverse to maintain its goal of creating happiness, both externally and from within.
“Translucia is driven by an engine that we envision will create goodness, prosperity, wellness and, ultimately, happiness. Translucia defines goodness as being good to others, to the world, and to yourself. By doing so, we at Translucia are changing the traditional definition of P&L—from profit and loss, to purpose and legacy.”
Despite the lingering impact of the Covid-19 pandemic, Singapore is taking center stage amid a resurgence in businesses, a calibrated resumption of travel, and upbeat consumer sentiment. The city-state has clearly regained its confidence as a global financial hub, with the growing number of wealthy entrepreneurs snapping up posh homes in prime residential districts, sending prices to record highs.
Adding to signs that the Singapore economy is returning to normalcy, the nation’s economic growth climbed a reassuring 7.1% in the third quarter compared to the previous year. This nascent recovery has boosted the country’s burgeoning fintech industry and the ever-resilient luxury real estate market. No doubt, the substantial economic stimulus measures announced by the government in the most recent budget has helped to further bolster economic activity across the board.
Peak of Luxury
While the restoration of international links has empowered certain sectors, it’s the legacy of the sundry local lockdowns that has brought added vitality to some businesses. With staying at home required for some people and the preferred choice for others over the past two years, the primacy of having access to truly resplendent residential spaces has never been greater.
Residential spaces don’t come more resplendent than the Wallich Residence, a skyscraper at the heart of Singapore’s central business district. The occupants of one of Singapore’s loftiest living spaces can endure pandemic-enforced confinement in the utmost comfort.
Inevitably, demand has soared for the remaining units in this deluxe abode, which extends from the 39th to 64th floor of the Guoco Tower, the city’s tallest and most exclusive mixed use residential, office and hotel structure. Now that fine dining and cultural exploration are very much back on the menu, the ultra-connectivity of the residence’s city center location has only further enhanced its allure.
With trade rebounding, restrictions on travel being scaled down and supply chains surging back into life, the need for efficient and unfettered digital payments into China has become a priority for many international businesses. This bodes well for Aleta Planet, a Singapore fintech firm that processes cross-border digital payments.
Founded seven years ago, the successful rollout of its flagship AP-1 digital card has positioned Aleta Planet among the major players facilitating rapid and secure payments to China-based business partners and suppliers. AP-1 allows international users to make payments in China without the need for a local bank account.
This app-based system allows payments to be cleared into UnionPay personal accounts worldwide or to qualified WeChat users in China in an instant, much faster than the 2 to 4 business days it takes via telegraphic transfer. With its mainland system in place, the company is looking to replicate its services in other jurisdictions, making it ideally equipped to meet the needs of Singapore’s increasingly global businesses.
As the global economy begins to emerge from the depths of the pandemic, real estate markets across Asia-Pacific are poised for a strong recovery in 2021. In particular, the expected easing of border and travel restrictions this year should see investors return to key growth markets such as Hong Kong, Singapore and Sydney.
According to a recent report by global real estate services firm Cushman & Wakefield, total real estate investment volumes (excluding development sites) in Asia-Pacific are expected to bounce back in 2021 to around US$165 billion, or 90% of the level in 2019.
“This rebound in investment activity in the region is supported by greater investor confidence as Asia-Pacific leads the economic recovery across the world. The region is also riding on the positive momentum off the back of a surge in investments in the last quarter of 2020,” the report said.
In terms of asset classes, investors are expected to favor residential properties. Consultancy Knight Frank estimates 17 out of 22 prime markets in the residential segment will see stable to moderate price growth in 2021.
In Singapore, the residential market continues to be robust, with private condominium prices rising for the seventh straight month in February. Home buyers can look forward to high-profile luxury projects being launched in the city-state this year. One such development is the upcoming Park Nova in Singapore’s prime Orchard Road district.
The maiden project by Hong Kong-listed developer Shun Tak Holdings, Park Nova will include 51 luxurious units and three penthouses in a 21-story residential tower. The development, nestled amid a lush vertical garden, features a unique biophilic design.
In Hong Kong, the luxury development 8 Deep Water Bay Drive by Nan Fung Group also offers a premium green living experience to residents of the bustling metropolis. Nature is a key highlight of this development, with the surrounding greenery sculpted into multilevel green spaces within the grounds.
Meanwhile, office properties are another highly sought after asset class, especially those in prime locations. As companies adjust their office occupancy needs to take into account remote working arrangements, the office market should see some increase in momentum in the second half of this year, according to Cushman & Wakefield.
One upcoming prime office development that is catering to flexible working needs is CapitaSpring, located in the heart of Singapore’s Central Business District. The development features hybrid workplace solutions that offer fully integrated workspace options—including hot desks, meeting facilities, private offices and large enterprise suites—in one building. Tenants can maintain a core office for key operations and choose from a host of flexible workspace options when required.
After a subdued 2020, projects such as Park Nova, 8 Deep Water Bay and CapitaSpring are set to excite investors once again as real estate markets ride the global economic recovery in 2021.
Offering an exquisite blend of secluded refinement, bespoke services and contemporary design, Fuin Properties is raising the bar for luxury living in Tokyo with the much-anticipated launch of AMOMA Hiroo. Nestled along an idyllic street in a neighborhood known for its embassies and prestigious higher learning institutions, the development features seven elegant residences set within a self-enclosed sanctuary, providing unrivalled privacy within the city’s most cosmopolitan district.
Fuin Properties—cofounded by Hong Kong-based, luxury real estate trailblazers Luke Fehon and Amy Li—has a reputation for crafting residential spaces suffused with sophisticated design and a unique sense of place, and these are qualities that AMOMA Hiroo embodies throughout. From the modern Japanese-inspired lines of the lofty perimeter facade and understated entranceway, to the serene simplicity of the communal courtyard garden, to the intrinsically chic interior design of the residences themselves, the development is imbued with an aesthetic that is at once minimal and cozy.
This luxurious and authentic expression of Japanese modernist architecture has been achieved in collaboration with a team of world-leading talents, including renowned Tokyo-based firm Wonderwall, French interior styling specialist Liaigre and Japanese landscape design mastermind Seijun Nishihata. The result is a true sanctuary in which each element combines to create a sense of harmony and tranquility.
Each of the seven two-story residences has been designed to allow for the effortless flow of movement, energy and light, creating spaces that are open and airy yet warm and inviting. A palette of finishes, including natural woods, glass, stone and patinated bronze detailing, evokes a sense of calm reflection, while an individual private courtyard garden provides a meditative anchor point at the heart of each home.
The spacious kitchens, which can be customized to buyers’ specifications, are crafted from Italian marble and solid oak by Germany’s renowned Bulthaup, and are replete with the finest modern appliances from Miele, Gaggenau and Dornbracht. Other notable features include natural oak wood flooring, Japanese Hinoki wood bathtubs, and stone fireplaces, while there is also a fitness area lined with Japanese shoji screens and featuring state-of-the-art Technogym equipment.
AMOMA Hiroo is much more than just a physical space, and residents have access to a complete array of personalized services and tailored lifestyle experiences. These include key personnel such as concierge, housekeepers, private chefs and personal trainers, who are on hand round-the-clock to cater to any and every need. The developer has also partnered with Rolls-Royce Motor Cars and VistaJet to ensure that residents always arrive and depart in style: a fleet of bespoke Rolls-Royce Phantoms driven by a team of highly trained chauffeurs is available for use 24/7, while property owners also receive a complimentary one-year VistaJet Silver membership that provides preferred access to more than 70 private aircraft.
AMOMA Hiroo is the first of four such projects currently being developed under the AMOMA brand by Fuin Properties in Japan, with additional properties planned for Kyoto, Atami and Niseko.
The Philippine economy is expected to bounce back with a vengeance next year as businesses recover their momentum. This means now is an opportune time to consider new investments on the horizon.
Alveo Land, one of the country’s most respected and reliable names in real estate, is targeting visionary business investors with its extensive and strategic project portfolio. Banking on the heritage of its parent Ayala Land, the industry leader is forging ahead with innovative and exciting developments that are sure to make a lasting impact on the new business landscape.
In the middle of Metropolitan Manila, Alveo shines with its award-winning Stiles Enterprise Plaza. This 29-story building is Alveo’s flagship office-for-sale project in Circuit Makati, Ayala Land’s booming riverside district that is the city’s latest rising business address. Integrating eclectic office and lifestyle zones with dynamic workspaces, Stiles Enterprise Plaza is designed to provide an adaptable and inspirational environment for budding creatives, startups and entrepreneurs.
Ayala Land’s Arca South development in Taguig City is emerging as a cutting-edge, technology-charged urban hub. Strategically located at the convergence of major business districts and transport corridors in Metro Manila, the estate’s progressive urban design is complemented by verdant open spaces.
At the hub’s gateway rises Alveo’s Tryne Enterprise Plaza, another choice office-for-sale development offering flexible workspaces for future-focused businesses. With access to diverse retail destinations and lifestyle options, this master-planned estate is the next desirable business location for savvy urbanites.
Just outside Metro Manila, Alveo is contributing to the growth of emerging economic centers with Broadfield, Ayala Land’s newest estate in the Calabarzon region. Its location is highly accessible to the game-changing Cavite-Laguna Expressway, a key corridor of the Metro Luzon Urban Beltway.
Broadfield’s future-proof master plan upgrades the region to the next level, boasting green open spaces, pedestrian-friendly sidewalks, dedicated bike lanes and parks lined with shops and restaurants. This vibrant community will attract those seeking a healthy, invigorating environment to live, work and play in the south.
Multiple investment opportunities abound in the area—commercial land prices have quadrupled in the past 10 years. Leveraging the captive market of surrounding areas (including Laguna Technopark, multiple residential enclaves such as Alveo’s Aveia and Venido, and De La Salle University Laguna), Broadfield’s retail and commercial prospects are certain to take off as the estate progresses.
“On the road to recovery, we believe that we will see greater demand for developments that are greener, more spacious, adaptable and people-friendly,” says Robert Lao, Alveo Land President. “Thankfully, these sensibilities align with the values and principles that guide the master-planning of all our communities. Alveo is more than ready to fulfill these needs as we anticipate a brighter and healthier future for us all.”
As Thailand’s largest private-sector property development, One Bangkok is poised to break new ground in design, smart-city living and sustainability. When completed, the integrated district will become a global landmark, attracting leading businesses, tourists and locals by seamlessly connecting offices, retail, luxury hotels and residences as well as cultural and social spaces.
A joint venture between TCC Assets Co., Ltd. and Frasers Property Holdings (Thailand) Co., Ltd., the THB 120 billion (US$4 billion) project’s rich mix of uses will ensure the district is buzzing with energy around the clock. The development is expected to open in 2023, with full completion slated for 2026.
“One Bangkok will reshape and redefine Bangkok’s urban landscape in a positive and lasting way as the largest private sector property development initiative undertaken in Thailand,” says Panote Sirivadhanabhakdi, Group CEO, Frasers Property Limited.
One Bangkok’s masterplan proposes a set of four diverse precincts centered around a 10,000-square-meter, landscaped civic plaza. These precincts are connected on multiple levels, and each includes a retail and lifestyle element at lower levels to create a vibrant streetscape, with towers for working and living rising above. The integrated development will be easily accessible as it is directly connected to Bangkok’s MRT train network.
Five Concepts in One
With a combined office net lettable area of almost 500,000 square meters, One Bangkok is able to house more than 500 local and international organizations at what will be the city’s most prestigious corporate address.
Leading brands, meanwhile, will have a new and exciting platform to engage their customers with fresh concepts and spaces across four connected retail precincts, which will encompass about 450 stores over 180,000 square meters.
With five hotels, One Bangkok will also cater to all tastes of travelers, whether they are seeking a luxury experience or a boutique offering. The first luxury hotel, The Ritz-Carlton, Bangkok is scheduled to open in 2023.
Those seeking the finest residences in Bangkok, meanwhile, will have their pick of three luxury residential towers located at the north end of the district, offering unprecedented views of Lumphini Park and the city beyond. The first residence, located atop The Ritz-Carlton, Bangkok on levels 26-49, will comprise just 110 ultra-luxury units of two to four bedrooms that will launch in early 2020.
Crowning the sprawling One Bangkok integrated development will be the 430-meter Signature Tower, which will feature office spaces and a super luxury hotel. Set to become one of ASEAN’s 10 tallest buildings when completed, the Signature Tower will offer visitors panoramic views of the city and become a stunning addition to the city’s skyline. One Bangkok will also be a hub of culture, featuring public art and learning spaces as well as performing arts events and concerts all year round.
Says Sirivadhanabhakdi, “We believe One Bangkok is an offering worthy of what Thailand’s capital can deliver on the world stage, and our goal is to see the country become the very epicenter of ASEAN.”
Developers continue to redefine the Singapore city skyline.
Despite global economic headwinds, there is value to be found in Asia’s real estate sector if one knows where to look.
In terms of individual markets, Singapore’s residential market continues to be a safe haven for foreign buyers seeking not just profits, but also capital preservation. Looking to capitalize on this trend, developers are rolling out ultraluxury developments that cater to the region’s wealthy in some of Singapore’s most prestigious neighborhoods.
For instance, the upcoming 3 Orchard By-The-Park is a short stroll away from the UNESCO World Heritage site, Singapore Botanic Gardens, while luxury boutiques, five-star hotels, embassies and Michelin-starred eateries of the premier Orchard Road belt are just minutes away. Launched by the YTL Group, the development features the signature touch of world-renowned architect Antonio Citterio.
Meanwhile, Frasers Property is offering homebuyers a rare riverfront living experience along the historical Singapore River. When completed, the Rivière will form part of a highly attractive cluster of waterfront developments as well as food and beverage and lifestyle outlets.
Innovative players such as Guocoland are transforming the city-state’s central business district. The developer is behind iconic properties such as Singapore’s tallest building, Guoco Tower, a unique 5-in-1 integrated development located in the heart of the CBD.
Reflecting their global ambitions, Singapore’s real estate developers are extending their footprint abroad as well. For instance, Pontiac Land Group is part of the development team behind the upcoming 53 West 53 skyscraper in Midtown Manhattan in New York City. The 82-story building is designed by famed French architect Jean Nouvel.
Malaysia is also well-positioned for growth. The residential property market in the country recorded a higher value of transactions in the first nine months of the year for the primary market compared with the whole of 2018, according to international real estate federation FIABCI. Malaysia’s National Housing Policy 2.0, which was launched by the Housing and Local Government Ministry at the start of the year, has helped address affordability issues and boost demand in the housing market.
One company that has capitalized on this potential is UEM Sunrise Berhad, a leading property developer in Malaysia. UEM Sunrise has posted an uptick in revenue over the past few years and appears to be on track for another year of growth in 2019.
In the face of an uncertain and evolving landscape, there are bright spots to be found in the region’s real estate market for discerning buyers with an eye for value and quality.
ICONSIAM Superlux Residence is proud to announce the launch of The Residences at Mandarin Oriental, Bangkok. This project marks the hotel group’s seventh residence project worldwide and its first in Southeast Asia. The newly unveiled project offers unparalleled luxury accommodation coupled with the renowned style, service and excellence for which Mandarin Oriental is known.
With the opening of The Residences at Mandarin Oriental, Bangkok, located diagonally across the Chao Phraya River from the hotel, you can enjoy a more permanent stay under this iconic brand. As the most recent addition to the innovative ICONSIAM megacomplex—a new landmark addition to Thailand’s capital, which plays host to The Residences— Magnolia Development Corporation provides everything required for a new standard of luxury living realized through its pioneering vision.
A Harmony of Modern and Traditional
The Residences are comprised of 146 exclusive units and amenities across 52 floors, designed by renowned Joyce Wang Studio, which has put its unique stamp on landmark luxury hotels, residences and restaurants in major cities, including Las Vegas, Vancouver, Shanghai and Hong Kong. This latest project, the studio’s first in Bangkok, secured the South East Asia Property Awards 2016 for best residential interior design.
The building itself—one of the tallest in the city—with its grand entrance and lobby, was inspired by traditional Bangkok architecture as well as the form of the Chao Phraya River, which teems with traditional and modern life beside the Residences. Great attention to detail has been paid throughout the property, with top-quality wood, stone and metal structures designed and built in concert with space and light.
The lavishly designed structure is tastefully decorated with selected antiques, custom artworks and the finest local artisanal crafts, all handpicked to blend harmoniously with the building’s architectural style.
Much more than an architectural and artistic showpiece, the Residences were carefully conceived to foster a sense of community with social spaces and other beautiful communal areas open to all residents, including more than 1,600 square meters of gardens.
It all starts on the ground floor, with the impressive Grand Residential Lobby, the Chao Phraya Lounge (also available for private functions) and the Mandarin Gallery lounge area.
The 4th and 5th floors are dedicated to the River Clubhouse facilities, featuring the River Terrace with an outdoor lawn area and sunbathing deck, an outdoor infinity pool, jacuzzi, sauna and steam room, and barbecue terrace, as well as the Garden Loft dining area and kitchen. For the kids, a children’s pool and an indoor and outdoor playroom are on offer.
Other facilities to keep the family pleasantly engaged include a golf simulator and a game room, as well as a private fitness and wellness studio and a fully equipped gym.
On the 36th floor is the Sky Pavilion, which includes the Oriental Salon, a formal lounge and the Siam Salon function room (also available for private functions).
Luxury Residences to Suit Your Lifestyle
Each freehold condominium unit has been designed to enhance its inhabitants’ lifestyle and privacy. There is a selection of varying dimensions and layouts, all featuring uninterrupted views of the Chao Phraya “River of Kings.” All units are available fully furnished.
The 2-bedroom units range from 128 to 165 square meters, while 3-bedroom units are of 222 to 228 square meters. Both configurations include generously sized bedrooms and central living areas.
Ultra-luxury penthouses range from 385-square-meter residences to two-story, 710-square-meter units, featuring private lifts and spectacularly large living spaces, with ceilings more than three meters high, natural light and incredible views of the river and the Thai capital far below.
A range of amenities are available to residents, such as around-the-clock concierge services provided by trained Mandarin Oriental staff. Owners are invited to join the Residences Elite Programme to enjoy bespoke benefits while at home, and VIP recognition and benefits while staying at any Mandarin Oriental property around the world.
Located on the banks of the Chao Phraya River, the THB54 billion (US$1.8 billion) ICONSIAM megacomplex has broken new ground with its dining, entertainment, leisure, cultural and shopping opportunities.
Since its opening, ICONSIAM has changed perceptions of what constitutes the city center of present-day Bangkok, by bringing vibrant life back to the banks of the river where the city was originally founded. While being easily accessible by road, river and rail, the upcoming gold line monorail link, scheduled to open next year, also offers an alternative route to the location.
The 20-acre site features spectacular water and fire installations along 400 meters of parkland riverfront, where the public can relax and watch the river flow. Here, modern international lifestyle joins hands with Thai tradition. This pioneering 10-story space provides the best the country has to offer, and since its opening late last year has been attracting countless local and international visitors to shop and enjoy Thai culture.
Offerings include movie and live theaters, a full range of international brand shops across 525,000 square meters of retail floor space, an indoor floating market, a mind-boggling selection of local and international cuisine, and the River Museum, a joint venture with the Ministry of Culture’s Fine Arts Department. The enormous complex includes the Magnolia Residences as well as a Hilton hotel.
And now, with The Residences at Mandarin Oriental, Bangkok, the ICONSIAM project is complete; a comprehensive luxury lifestyle is available entirely onsite that caters to residents’ needs and desires.
Over the years, Frasers Property has evolved into a multinational real estate company that owns, develops and manages a diverse, integrated portfolio of properties covering five asset classes and six REITs. Listed on the Singapore Exchange, the group’s S$33.6 billion (US$24.5 billion) in assets range from residential, retail, commercial and business parks, to industrial and logistics in Southeast Asia, Australia, Europe and China. It is also well-established in the hospitality business, where it owns and operates serviced apartments and hotels in over 70 cities.
This year, Frasers Property has focused its efforts on building a resilient and sustainable business, specifically by building up some of its key platforms.
An Integrated Industrial and Logistics Platform
In October, the group formed an integrated industrial and logistics platform, Frasers Property Industrial, combining its industrial and logistics operations in Australia and Europe that represent about S$5.4 billion (US$3.9 billion) in assets under management. Frasers Property Industrial offers modern, sustainable industrial real estate including logistics facilities, warehouses and production facilities in strategic locations across Europe and Australia. The integrated unit is also actively leveraging its strong connection with the group’s operations in Thailand, where Frasers Property Thailand is one of the nation’s largest industrial and logistics operators.
Creating Scale in Thailand
In recent months, Frasers Property Thailand completed its acquisition of 94.5% of shares in Golden Land Property Development Plc. This acquisition is an important milestone in its journey in Thailand as the two leading real estate developers come together to become a leading integrated real estate platform in Thailand, giving Frasers Property a balanced and diversified property portfolio spanning across industrial and logistics, residential, commercial and hospitality.
Frasers Property Holdings Thailand is the development manager for One Bangkok. When completed, One Bangkok is anticipated to be Thailand’s largest fully integrated district, and the group sees it becoming a new global landmark.
The group’s capabilities in mixed-use developments are not limited only to Thailand. In Singapore, its mixed-used development portfolio includes Northpoint City, which is the group’s first suburban mall as well as the largest integrated development in the north of Singapore.
In Sydney, its Central Park development’s iconic and globally award-winning architecture with public green spaces have transformed the city’s downtown since the complex’s launch in 2014.
A Leading Retail Operator in Singapore
Its retail business has also been growing rapidly. A recent move to develop a retail focused platform to realize its aspirations in Singapore demonstrates its intent to build meaningful scale in a fast-evolving local retail landscape. Frasers Property Retail has assets valued at more than S$8 billion (US$5.8 billion), which includes its retail assets across Frasers Property Singapore, its REIT, Frasers Centrepoint Trust, and the group’s strategic investments in PGIM Real Estate AsiaRetail Fund. Its retail properties are located in populous residential areas that enjoy good connectivity to Singapore’s public transportation system, giving its properties a stable footfall and healthy mall occupancy.
“Frasers Property aspires to be a world-class, multinational owner-operator-developer of real estate products in resilient markets and a provider of real estate services, complementary to our investments. As we continue to strengthen our platforms in a rapidly evolving real estate industry, we will seek ways to redefine experiences for our customers,” says Panote Sirivadhanabhakdi, Group Chief Executive Officer of Frasers Property Limited.